S. Florida Businesses Ponder Impact Of Supreme Court Decision
SOUTH BEACH (CBSMiami) – 75 people at Deco International Security Corporation in South Beach are lucky to have a job. What they don't have is health insurance, because their boss didn't think he could afford it. Now, that's about to change.
With the Supreme Court's decision to uphold the Affordable Health Care Act owner Thomas Sanon Jules will have to make sure he provides health insurance for his workers.
He says he will have to plan for this tough financial challenge.
"We have to…see what we're gonna do for the employees of this company…we'll be spending more money on employees," Jones said.
For companies like his, the clock is ticking, and 2014 is zero hour.
By that time, employers with more than 50 full-time employees must either provide health insurance or face stiff penalties.
For Bill Diggs, President of Miami-Dade's Chamber of Commerce, the health care decision gives South Florida companies more choices in providing health care.
"There's been a tremendous difficulty getting affordable health care (for companies). Now it won't just be one size fits all. It's gonna be a cafeteria type of menu," said Diggs.
He believes the new law is a big benefit to the small business community.
Adds Diggs: "Sometimes small businesses make a decision…where they choose not to hire somebody because of a pre-existing medical condition. Those abilities are now removed."
The law will deliver tax credits to businesses to help them pay for insurance.
Read what these tax credits and the decision in general mean for Florida.
