Local business discusses impact of Affordable Care Act

A local business is taking a new approach when it comes to the way Idahoans view health care policy.

Since the Supreme Court ruled in favor of the Affordable Care Act, also known as Obamacare, there isn’t much room left for debate when it comes to the way the law will be implemented.

The Rudd and Company accounting firm in Idaho Falls hopes to educate the public, and show people how to make the most of this new law.

“Our seminar is not designed to — nor is the purpose of it to generate any sort of support opposing, or in favor of, the law,” said Kevin Oakey, a partner at Rudd and Company. “It’s really just to explain to business people and individuals alike what the provisions of the law are.”

When the Supreme Court handed down its ruling in June, upholding the Affordable Care Act many Idahoans were caught off guard.

“I think there’s been a lot of hesitancy on the part of individuals and business people alike as to whether or not this law was going to be in effect,” Oakey said.

Oakey and his colleagues invited the public to a seminar to get them up to speed and answer the ever-important question: “Now what?”

“Several thousand pages of law? Who can deal with that?” asked Gary Tyger, a concerned business owner attending the seminar.

“My major concern is how is this going to affect my taxes?” asked Dennis Youngerman, a retiree also at the event.

Oakey and his colleagues talked about tax credits many businesses can receive through the health care law, while agents from Anderson Insurance focused on the individual.

Still, there was concern in the packed conference room.

“It gives the government too much control over too many things,” said Tyger of the Affordable Care Act.

But there was also optimism, and a hint of hope.

“I’m hoping that it will be very informative,” said attendee Lori Steele. “Not only for the individuals who need health care, but for the businesses as well.”

“There are other reasons that a business provides health insurance to employees, besides just money out of their pocket,” Oakey said.

Several aspects of the Affordable Care Act are already in effect, including health insurance companies inability to turn down individuals based on pre-existing conditions.

Other provisions, including penalties for not being insured or not providing insurance to employees, will be phased in over the next couple of years.

Specific provisions of the Affordable Care Act can be found at http://www.healthcare.gov/.