Changes

/tThe The Patient Protection and Affordable Care Act was passed by Congress and signed into law by President Obama on March 23, 2010. Together, the Health Care and Education Reconciliation Act of 2010 and the Affordable Care Act (ACA) transformed the existing health care system in the United States and expanded Medicaid and Medicare services, while mandating all individuals to sign up for health insurance coverage. Since its passage, the ACA has taken on a decisive, divisive, and defining role in American politics, markets, and everyday life, and an estimated 17 million Americans gaining coverage as a result of the mandate. The controversy surrounding “Obamacare”, healthcare reform has understandably thrusted healthcare to the center stage of the discussion table in the 2016 U.S. presidential election, with both candidates taking strong stances on either side of the aisle.

/tThe The magnitude of the effect of Obamacare regulations and mandates on small businesses depends heavily on the size of the firm, as well as the composition, of its workforce (i.e. number of full time employees, average wages, state of operation). In determining which businesses may qualify as a “small business” and thus be exempt from the employer mandate, the ACA relies on a criterion of “full-time equivalent” (FTE) employees.