PRESTONSBURG — Business executives gathered Tuesday at May Lodge in Jenny Wiley State Resort Park to get a breakdown on how the Patient Protection and Affordable Care Act will affect them personally, as well as their business.
The message of the day? Be prepared.
BB&T spokesperson Daryl Carlson said what effect the new law has on a business will depend largely on whether or not that business takes a proactive approach in preparing for the changes.
The event was hosted and sponsored by BB&T bank and offered some insight into the decisions businesses and individuals will be faced as the act, labeled “Obamacare” by both those in favor and opposed to the new law, rolls into implementation over the next two years.
Jim Dingus, with BB&T, opened the session saying that the PPACA act has “changed the entire landscape of employer provided health-care.”
Carlson outlined how the PPACA is designed to decrease the number of uninsured Americans and reduce the overall costs of health care.
Carlson said there has been a lot of apprehension over the act and that people look at it and see either a trai, or the light at the end of the tunnel. “It may be a train, and it may be a light at the end of the tunnel. Frankly, I think it can be both,” Carlson said.
Carlson said during the Supreme Court case, business owners and executives were content to hide their heads in the sand and hope that it just went away. Carlson said, speaking specifically to business owners and executives, in the wake of the decision, “If you continue to ignore it any longer, I promise you it’s a train. If you pay attention to the provisions of the plan and how to deal with it, then it can be a light at the end of a tunnel.”
Carlson highlighted the health care reform timeline, noting when different aspects of the PPACA will go into effect and how individuals and businesses can be ready for the changes.
According to Carlson, while President Barack Obama is clearly supportive of the health care act, Romney has said he will repeal it if elected. But Carlson also added that Romney has stated he would keep the parts of the act he felt worked best for the American people.
For more information on how the Patient Protection and Affordable Care Act will affect you and your business, visit http://www.healthcare.gov/law/index.html.