My experience with the Affordable Care Act, posted to my FB page this morning:
So I'm going to write a completely political post, something I rarely do. It's about the Affordable Care Act, otherwise known as Obamacare. I understand that it's first on Trump's agenda to repeal. As a CPA and fiscal conservative, I also understand why. It's large, hard to understand, and expanded our social safety net.
However, as a CPA who works with small businesses and individuals exclusively, I can tell you that the ACA has been a godsend, particularly for those small businesses who are owned by a single owner, just starting out, or struggling to rebuild their businesses after the recession. I can't tell you how many people, pre-ACA, I knew who either could not afford health insurance or who were forced to redirect funds that could have/should have gone to building their businesses spent disproportionately large sums of money on health insurance.
There were/are definitely some aspects of this law that had to go - for instance, the early requirement for expansion of 1099 reporting. Small businesses were up in arms about this provision, and rightly so. It was taken out of the law before it ever went into effect.
So my caution is this. If this law is repealed, what will it be replaced with? and please, please think of your neighbor, the small business owner, looking to grow their business. For many repeal of this law will have long term, negative consequences