Some small business owners fear impact of Affordable Care Act
While many are pleased with the Supreme Court's ruling to uphold the bulk of the president's health care bill, many small business owners are concerned the ruling could hurt them.
Small businesses are responsible for more than half the new jobs created in this country each year. Many of them say the ruling will make an already tough situation even worse:
Snider's Super Foods in Silver Spring has been family owned and operated for 66 years.
But David Snider says health insurance for his 80 employees is already prohibitive.
"They just went up another nine percent this year on us," Snider says. "Our health insurance is more than our rent."
Many small businesses fear yesterday's Supreme Court ruling will mean higher premiums, more regulations and less chance of survival in a still-depressed economy:
Under the Affordable Care Act, employers with at least 50 workers who do not provide health insurance will be fined $2,000 per employee per year, minus the first 30 workers.
And implementing the ACA will amount to a $500 per employee tax regardless of company size.
But there are small-business tax credits and other incentives--and supporters say guaranteed health insurance will make it easier to attract and retain satisfied workers.
And unless Congress repeals it, some say it's time to move on.
Many businesses didn't want to talk on camera, but they did say mandated insurance will mean not hiring new workers, not growing their business, and some say they'll just pay the penalty, rather than having to cover all of their workers.
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