Stark & Stark Shareholder Allen M. Silk, Chair of the Firm’s Business & Corporate Group, was featured in the article “Ready or Not, Here Comes … Obamacare” published in Mid Jersey Business in July 2013. The article discusses how businesses can prepare for the new insurance laws. For some companies, the issue is a competitive matter. “We have 500 people on our plan, and to pay $2,000 not to have any insurance would be a bargain, but then we wouldn’t have any employees,” Silk stated. If a company employs fewer than 25 workers and opts to provide insurance anyway, the law offers a tax credit to offset the expense. Companies also face penalties of $3,000 for each worker if they do not offer affordable healthcare coverage.
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