PACE Act signed into law
From Tim Scott’s Facebook page:
A quick, non flood-related note: The President signed my PACE Act into law last night. We have taken a great step forward in protecting small and mid-sized businesses from the harmful effects of Obamacare. I want to thank my House colleague Congressman Brett Guthrie for his important work on the PACE Act, and all of our cosponsors for their support.
I am pleased we were able to stop the growth of Obamacare and block implementation of this harmful rule. I remain committed to a full repeal of the health care law, and will keep working to find solutions that put doctors and patients in charge – not the federal government.
Here’s the scoop…
As currently written, the Affordable Care Act defines a small employer as employing one to 50 employees. In 2016 the definition of a small employer is set to change to employers with one to 100 employees.
As currently written, this provision forces businesses with 51 to 100 employees into the small group insurance market in 2016, where they would face new coverage requirements. For many businesses, the new coverage requirements would lead to higher premiums and plan changes.
The PACE Act preserves the traditional definition of “small group,” but allows states to expand it to include employers with 51 to 100 employees, if they wish to do so.
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