The Affordable Care Act, otherwise known as Obamacare, was set 
movement has changed several times since its adoption in 2010. Therefore, business owners and employees are wondering what left the best options for health insurance.
The Act entered into force on 1 January 2014, but since then, many changes have been made and more will come in 2016. It can be confusing for business owners to identify which select health plan to avoid inadequate health insurance-related fines for employees. The following information on Obamacare will help business owners navigate these uncertain waters.
Three important changes coming in 2016
There are three major changes coming to health insurance in 2016 as a result of the ACA
First, the minimum sentence for those who choose to remain uninsured is rising significantly over the next year. Although the amount has increased from 2014 to 2015, Americans can expect to climb even higher boom in 2016. Consumers can expect to pay either $ 695 or 2.5 percent of their adjusted gross income modified if they choose to go without health insurance. For a small family, this could amount to over $ 2,000. After 2016, the penalty will increase each year with inflation. This highlights the importance of companies offering affordable health insurance for their employees.
Second, companies can expect the full employer mandate to take effect. This is the part of the law centered on companies and their obligation to provide health insurance for employees. Companies with more than 49 full-time employees must provide some type of insurance plan for employees and their dependents (up to age 26 years) or pay a $ 2,000 fine -. $ 3,000 per employee
Third, the insurance companies are willing to raise rates in the largest rate hike since the law came into force in 2014 under the law, companies insurance planning to increase rates must report to the Office of the Commissioner of insurance, and statistics show that at least 12 insurance companies are planning to increase the rate of 50 percent. Many others are looking at 20, 30 and even 40 percent hikes in costs over the next year.
Conclusion
While the ACA was designed to make it more affordable insurance coverage for all Americans, 2016 may be a difficult year for those who trying to work insurance options. That is why it is more important than ever for employers to support their employees with a benefit for sustainable and affordable health.
How Obamacare has changed the way you look at health insurance?
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