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Obamacareâs Impact a Question Mark
January 31,
2013 by in UnCategorized 
By Home Furnishings Business in on February 2013
The jurys still out on the impact of the Patient Protection and Affordable Care Act, better known as Obamacare, on businesses.
Jill Benson, an attorney specializing in employment issues in the Greensboro, N.C., office of Womble Carlyle, noted that employers will have to provide coverage in companies with 50 or more full-time employees. The next big deadline is March this year to give notice to employees, but that could be pushed back.
Its not clear yet what minimal essential coverage will be, Benson said.
Taylor Ganz, vice president of finance, planning & administration at Profitability Consulting Group, said hes spoken to a number of retailers who are reducing some full-time positions to part-time; and all part-time positions to 28 hours a week or less in order to reduce the number of employees they must cover in a health insurance program under the law.
Some are raising prices, but they should be raising prices anyway, Ganz said. Up to now, a healthy benefit package has been a useful retention and recruitment tool, but because of the uncertainty around the new regulations its unclear how many retailers can offer the full level of benefits. ¦ Its the uncertainty about the laws mechanics.
With a huge number of retail associates spread over its Thomasville store network, Furniture Brands International has stayed abreast of health-care reform developments, said Beth Sweetman, senior senior vice president of human resources.
Weve been on top of health care reform for a couple of years, and we already comply with the legislationwe know whats coming, she said. For us I think it will be an attraction and retention tool. Benefits are a significant spend for Furniture Brands, so we watch that carefully.
Susan Brashears, at Brashears Furniture in Berryville, Ark., doesnt expect much impact from Obamacare on the retailers benefit packages.
We were already providing insurance for our people, and we have under 50 people, she said. We actually got a small rebate back from our health insurance company last year.