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SUNY BEST Discusses Affordable Care Act and Small Businesses

What small businesses don't know about the Affordable Care Act could hurt them.

Thursday in Binghamton a small business adviser went over the tax credits, legal mandates, and updated information associated with Obamacare. She said that many sole proprietors and small business still don't know how many of the details associated with the law could affect their bottom line.

"They're still learning. A lot of them are still surprised to learn that the tax credit goes back to 2010. It's retro. They can do an amendment on their tax returns if they have been offering health insurance to their employees up to this time. And they meet the requirements," said Michelle Catan, a certified business adviser with the New York State Small Business Development Center.

Catan said the best way for businesses and individuals to learn about the ins and outs of Obamacare is to go on the state's health exchange, nystateofhealth.gov. On that site you can find a certified navigator to help take you through the process.

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