Paducah Chamber hosts symposium on health care
PADUCAH, KY- "It's coming," Jill Chambers a presenter at the Paducah Area Chamber of Commerce's Health Care Symposium promised a group Thursday morning of the Affordable Care Act.
The Chamber hosted the event to educate area business leaders on what will be law in a matter of months and what it means for them and their employees.
Business owner Helen Sims spent 3 hours taking notes, trying to prepare and better understand the changes. She has about one year before a mandate will require employers like her to insure all full time employees. She owns Superior Care and has 120 employees.
Not everyone is insured, she says, because not everyone wants to pay. Now, even the lowest level plan called the 'Bronze Plan' would require her to pay 60 percent of insurance costs.
She says that will hurt her bottom line, "You have to think what you can do without that you are providing now."
Presenter Jill Chambers, with Kemper CPA tackled the major question: what is required of employees and individuals? She says whether it is a business with that magic number of '50' full time employees or one with fewer employees, classified as a 'small business' the answer is insurance.
"All small business that has employees employ individuals and there is an individual mandate," she said, explaining everyone will need to be insured or face a penalty.
Helen Sims says it is not so black and white, but after the symposium she said she was optimistic.
"We'll figure it out," she said.
A second symposium is scheduled for sometime in October, to focus on tax implementations.