Businesses begin bracing for Obamacare costs
(CBS News) NEW YORK CITY - Most parts of Obamacare will work next year, however a great deal of small businesses are currently making strategies. At the Five Guys dining establishment in New York City, burgers and fries are the specialties, however owner John Rigos worries he'll have to formulate some cost savings when the affordable care act is fully executed. "It'll likely affect the number of people we can hire," Rigos stated. Rigos, who has 10 New York franchises and 250 workers, was waiting until after the election to confront the new health care legislation -- formally called the Affordable Care Act-- which will force him to provide insurance for all his full-time workers, or face substantial fines.
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new york city Rigos affordable care act health care owner John Rigos CBS News Guys owner Rigos businesses new health care New York franchises Dr. Ezekiel Emanuel affordable health care health policy advisor York City market hefty fines employees Guys restaurant new jobs small businesses new legislation new stores cost savings new plan time workers costs companies White House real concern big deal surplus profits health coverage buy insurance small companies percent blip burgers fries penalty parts Obamacare plans number people staff election degree accountant effect term specialtiesPeople:
John Rigos
Overall Sentiment: 0.152606
Relevance: 0.921963
| Sentiment | Quote |
|---|---|
| 0 | "It'll likely affect the number of people we can hire," Rigos said. ... |
| 0.0445384 | "It'll probably have to reduce the staff to some degree, and again, focus on building smaller stronger team rather than being as aggressive in opening up new stores and creating new jobs," Rigos said. ... |
| 0.16516 | Rigos said he's not opposed to everyone having health care, adding: "I absolutely support it. I want to be clear about that, it's a big deal. It's still very challenging. There's 25,000 restaurants within the New York City market we're competing against, so it's not like we have surplus profits that we could just earmark a portion of them to go toward these types of initiatives." |
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Dr. Ezekiel Emanuel
Overall Sentiment: 0.420552
Relevance: 0.321978
| Sentiment | Quote |
|---|---|
| 0.104843 | "Near term we're going to see some blip in some costs. But I think actually when we rearrange costs and make it more efficient, we're actually going to see costs moderate," Emanuel said. ... |
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Disambiguation: Physician | AcademicReferences:
Obamacare
Overall Sentiment: 0.0970934
Relevance: 0.221138
Key:
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Additional Info:
City: New York City
Overall Sentiment: 0
Relevance: 0.595936
Disambiguation: PoliticalDistrict | GovernmentalJurisdiction | PlaceWithNeighborhoods | WineRegion | FilmScreeningVenueReferences:
Facility: Five Guys restaurant
Overall Sentiment: 0.17561
Relevance: 0.319288
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Source : Businesses begin bracing for Obamacare costs
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Provided Title:
Businesses begin bracing for Obamacare costs
Webpage Provided Desc:
While full Obamacare effects are a year off, businesses with more than 50 employees must start planning health coverage for everyone
Webpage Provided Keywords:
- affordable care act
- businesses
- obamacare
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