All people in the US will soon have to have some form of health insurance because of the Affordable Care Act. One financial group in Rapid City wants to make sure local businesses are prepared for what's to come.
Thursday morning, accounting firm Ketel Thorstenson, LLP hosted an informational session about health insurance options to businesses. Plans must be implemented by January 1, 2014. Larger businesses, 50 or more full-time employees, will have to decide whether to offer health insurance to full-time employees, or not and face a penalty.
Financial experts say it's important to know all of the options.
"It's a significant business choice and business decision whether or not to offer insurance so you should go out and make some considerations not just based on the cost but on the workforce and your employees," said Nina Braun, a partner at Ketel Thorstenson.
Ketel Thorstenson will host more sessions for businesses. The next one is Tuesday, June 25th at 5:30pm at the Holiday Inn in Rapid City.