There is little doubt that Obamacare, more commonly known as the Affordable Care Act (ACA), is going to be weakened significantly if not completely done away with by the new administration. This could be a disaster for millions of Americans, and not just the 20 million who found healthcare under the ACA. Many small businesses could also be adversely impacted, in more ways than one. The severity of this impact will remain a matter of speculation until action is taken by the new president and Congress.
ACA tax breaks and credits help most small businesses
Tax credits and tax breaks of Obamacare help businesses with 25 or fewer full-time employees provide health care to their workers, which include over 90 percent of American companies. If those are reduced or done away with, those companies will either have to make up the difference or cut benefits to their employees. Under the ACA, the smaller the business the larger the tax break, which gives smaller businesses the most to lose if Obamacare is cut. The ACA also helps small business owners offer health insurance to their employees, and obtain better plans at a more affordable rate. Employees need health care, and if an employer does not offer it, they are more than likely to look for companies which do.
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