CBS "Evening News" Report: Is ObamaCare Bad For Business?
Thursday, January 3, 2013
The new legislation will require businesses with 50 or more workers to provide affordable health care for their employees or pay a penalty of up $2,000 per worker
(CBS News) Most parts of Obamacare will take effect next year, but a lot of small businesses are already making plans.
At the Five Guys restaurant in New York City, burgers and fries are the specialties, but owner John Rigos worries he'll have to cook up some cost savings when the affordable care act is fully implemented.
"It'll likely affect the number of people we can hire," Rigos said.
Rigos, who has 10 New York franchises and 250 employees, was waiting until after the election to confront the new health care legislation -- officially called the Affordable Care Act -- which will force him to provide insurance for all his full time workers, or face hefty fines.