MOUNTAIN VIEW (KCBS) – The controversy over the Affordable Care Act landed in Silicon Valley Thursday as small businesses questioned a panel of experts about whether they could afford the costs associated with the new health insurance requirements.
Even as the Senate debated whether to defund Obamacare, the panel convened by the Silicon Valley Leadership Group fielded questions from entrepreneurs uncertain how to manage employee costs when the mandatory health insurance requirements take effect.
Bicycle shops, for example, would probably have to cut workers hours in order to remain profitable, said panelist Mike Sinyard, CEO of Specialized Bicycles.
“They’re concerned that it’s going to cost more,” he said. “I think some of the outcomes will be, they will have probably less employees. And maybe they won’t have as many full-time employees.”