A Q&A with top executives of Top 100 privately held companies.
President and CEO
AmeriQuest Business Services, Cherry Hill
We have definitely seen an increase in our costs as a result of Obamacare. While our plan structure and benefits did not have to change to be in compliance, we were subject to additional premiums as a result of the insurance carrier’s compliance. This resulted in additional cost for the company and our employees.
Artech Information Systems, Cedar Knolls
We’ve always offered health care to our employees. We will have to modify some of the offerings. It is obviously going to increase our costs, and we’re working very actively right now to solidify what those cost increases are going to be and understand how we’re going to pay for them. As a country, we’ll all see how it plays out in 2015 when the employer mandate is in effect.
Lawn Doctor, Holmdel
In our case, the number of people we directly employ is below the (50-person) threshold for the employer mandate. The same is true for our franchisees. While the impact for us is limited, we are watching the changing landscape of health care and how things may evolve. There are a lot of question marks.
The employer mandate and associated penalties are what we have an issue with. We’re still assessing the potential impact, but we are looking at from $400,000 to $1.2 million in additional costs. Because we can’t deduct these as business expenses, the tax effect is really almost double that.
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