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Forrestall CPAs, LLC
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Some Small Businesses Opt to Drop Health Plans and Pay Penalty Instead
The Wall Street Journal; subscription may be required Link to more items from this source
Apr. 7, 2013
"Mr. Levi currently spends about $140,000 a year on insurance premiums to cover 25 managerial staff at his business ... Under the new law, he will have to offer insurance to all of his 102 full-time employees starting in January. Assuming all of them take the coverage, Mr. Levi says the cost of premiums could exceed $500,000. 'I've never made a profit in any year of the company that has surpassed that amount,' says Mr. Levi, 62 years old. 'I don't make enough money.' He says it makes more sense to drop insurance entirely and pay a penalty of about $144,000."

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