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Small Business Employee Benefits and HR Blog

Employer Buzz Words for Healthcare Reform

Business owners around the country are actively researching the best way to continue growing their business while meeting the requirements of the Affordable Care Act (or "ObamaCare").  The Federal Government is quickly releasing new regulations regarding the Affordable Care Act that healthcare professionals and business owners should familiarize themselves with.Buzzwords

Within these regulations are many terms that can be considered "new" for readers unfamiliar with the healthcare industry. For example, below is a list of terms that are related to the Affordable Care Act. Read through and see if you know the business impact of each one. 

 Affordable Care Act

 Employee Benefits

 Federal Subsidy

 Penalty

 Tax

 Deductions

 Health Exchange

 I.R.S.

 Section 105 Plan

 IRS

 Salary

 Expense

 Deductible

 Rate Increase

 Defined Contribution

 PCIP

Having a solid understanding of these terms, and many more, will greatly assist you and other's over the next 2-3 years. As an additional resource, bookmarking a Small Business Health Insurance Glossary will always help.  This way if there is ever a term that you don’t know the meaning of, you can simply look it up.