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Maintaining Compliance Under the Patient Protection and Affordable Care Act

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Maintaining Compliance under the Patient Protection and Affordable Care Act
The passage of the Patient Protection and Affordable Care Act and its recent implementation into the market is transforming not only the health insurance industry, but also employers that offer health insurance. Businesses across the United States now find themselves being legally compelled to offer a larger portion of their workforce health insurance. The effects of this change leave these businesses attempting maintaining compliance under the new law and at times limit the increased costs. One of the most aspects of the Patient Protection and Affordability Care Act is what is being referred to as the Employer Mandate, the regulation that most employers must now provide health insurance to all full time employees. This mandate has greatly increased the number of individuals that are now eligible to purchase health insurance through their employer. But the Employer Mandate is not as simple as just allowing the employee to purchase health insurance from their employer, the employer must also share a portion of the cost which adds thousands sometimes millions in extra costs depending on the size of the business. Harrison (2014) states: according to the estimates, which the agency says are based on industry research and conversations with insurance experts, roughly 11 million of the 17 million individuals who have health care plans through a small employer will see their premiums increase as a result of the new rules on insurers in the law…If accurate, it would continue a steady climb in insurance costs for many small businesses. Compliance with the Patient Protection and Affordable Care Act is no easy feat. The law itself is long and utilizes technical language that is difficult to understand. In addition, the law is now “supplemented by hundreds of pages of bulletins and notices that the

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