Hobby Lobby may have won in the U.S. Supreme Court’s ruling in the birth control mandate, but it won’t actually impact small businesses. (Source: KFOR/CNN)
(CNN) – The U.S. Supreme Court’s decision to exempt some closely-held companies, like Hobby Lobby, from certain contraceptive coverage under President Barack Obama’s healthcare law will not directly impact small businesses.
Here’s why – “closely-held” companies are those that are majority owned by five or fewer people.
Seventy-eight percent of small businesses are family-owned, according to Limra, an insurance trade research firm, but only 2 percent of small businesses have 50 or more employees.
Any business with fewer than 50 employees is already exempt from the health insurance mandate under the Affordable Care Act.
Hobby Lobby has nearly 600 stores and almost 13,000 employees.
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