Working Out Your L
2015 Issue 2 | GearedUp
Requirements
24
ike staying
in shape,
truly understanding how the
Affordable Care
Act (ACA) impacts
a business requires
strong coaching,
by Kevin Kuhlman
a solid but flexible
plan, and periodic
monitoring of results. Depending on the
size of a business, number of locations
and makeup of workforce, the ACA will
affect Planet Fitness owners in many
different ways.
Find Great Coaching
First, it may be helpful to start with
the ground rules, which can change over
time. After all, proper technique and form
are key for any exercise to be effective.
As the ACA implementation continues,
new regulations are being issued more
than five years after passage. These new
rules are a challenge for business owners,
most of whom do not have the time or
resources to keep up with the changing
regulatory landscape. For example, the
employer mandate (the requirement that
businesses with 50 or more full-time or
full-time equivalent [FTE] employees offer
affordable health insurance to full-time
employees working 130 hours or more per
month) only spanned four pages in the
actual ACA law, but generated a 144-page
final regulation with more than 40 new
definitions in the Internal Revenue Code.
Therefore, it is best to utilize all available
resources as a coaching guide to the law’s
implementation.
The National Federation of Independent Business (NFIB) Research
Foundation has found that the general
news media is the number one source of
information for small-business owners.
The general news media can be informative for major changes, but better tools
exist. It is important to develop a coaching