Chamber prepares businesses for Affordable Care Act requirements

Local business leaders face compliance deadlines

SAN ANTONIO – The San Antonio Chamber of Commerce held a symposium on Wednesday to help business leaders prepare for the new requirements of the Affordable Care Act.

Dozens of area business leaders like David McGee, president and CEO of Amegy Bank of Texas, attended the event at the La Quinta Inn Suites on Horizon Hill Blvd.

"We've never been down a road like this before and so we are going to have to kind of help each other figure this out," said McGee.

With a multitude of new rules -- and exceptions to those rules -- experts say there's a lot to learn.

"This is complex. It's difficult and it's hard to understand," said Richard Perez, president & CEO of the San Antonio Chamber of Commerce

Guest speaker Joanna Antongiovanni, past president of the Texas Association of Health Underwriters, said the law is extensive.

"There are 2,600 pages of legislation and about 18,000 pages of guidance, so it's quite a bit of confusion," she said.

The clock is ticking to figure it out

Starting Jan. 1, 2014, almost all Americans will need to have insurance or face tax penalties in 2015..

For businesses, compliance deadlines are even closer.

"On Oct. 1, we've got a notice deadline that we need to comply with and as I looked around the room earlier, Im not sure that everybody was aware of that," said McGee.

While there's an overwhelming amount of confusion, McGee said it's staring to make sense.

"I think today gives us a better framework of where we need to go and ask questions and things that we need to be aware of," he said.

The Chamber has information from the event available on their website

Antongiovanni said insurance brokers are excellent resources of information for businesses and individuals with questions about the Affordable Care Act.

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