I will not discuss the politics of the recent Health Care Bill just signed into law. However, you need to be aware of how it will effect your business.Depending on the size of your business, you will be compelled to provide health insurance to your employees or pay a fine to the federal government. The fine can be as high as $2,000 per employee per year, enforced by the Internal Revenue Service.
The government will form pools where small businesses can join together to negotiate favorable rates with insurance company as a group. The Federal government will offer tax credits to help small businesses pay for the compulsive insurance coverages.
If it survives constitutional challenges, most of the provisions will not kick in for a number of years. As a business owner, you need to start preparations now.
For more information on the new law, please go to an article at CNN Money: http://money.cnn.com/2010/03/22/smallbusiness/small_business_health_reform/index.htm?source=cnn_bin&hpt=Sbin
...
No comments:
Post a Comment