July 25, 2013. The one-year reprieve from the “pay or play” requirements of the Affordable Care Act announced earlier this month gave businesses a sigh of relief. However, industries are still scrambling to position themselves when the requirements kick in. The restaurant industry, which employs a combination of full- and part-time employees to handle their unique and fluctuating business, is one such industry.
http://www.npr.org/2013/07/24/205123907/full-time-vs-part-time-workers-restaurants-weigh-obamacare
For an industry with slim margins, the cost of providing health insurance to employees working 30 hours a week or more can be prohibitively expensive. Many restaurants, both franchise and independent, are considering cutting hours, terminating full-time employees, or simply freezing the hiring of full-time employees. One of the consequences of the Affordable Care Act will be seen in fluctuations in the U.S. labor market as employers are preparing and will react to the Act’s implementation beginning January 1, 2015.
The Goosmann Law Firm will be co-presenting with Cain Ellsworth tax experts about healthcare reform on August 26, 2013. Click here to learn more about this free seminar.