Health Care

The pro­posed Health Care leg­is­la­tion will affect new busi­ness own­ers in two ways. As a small busi­ness owner, we face new require­ments so the first excerpt we offer you sum­ma­rizes these and pro­vides a link to down­load the entire report. The sec­ond impact is how it will affect us as indi­vid­u­als, and that is the last seg­ment below.

How will the new health care bill affect my small business?

from White House Exec­u­tive Summary

• Health care reform as envi­sioned in cur­rent draft leg­is­la­tion would reduce the cur­rent bur­dens on small firms and their workers.
• Small busi­nesses that meet cer­tain cri­te­ria would be able to pur­chase health insur­ance through an “insur­ance exchange” – allowing them to choose among a mul­ti­tude of plans that would pro­vide bet­ter cov­er­age at lower costs than they could find in the cur­rent small group market.
• Many small busi­nesses that pro­vide health insur­ance for their employ­ees would receive a small busi­ness tax credit to alle­vi­ate their dis­pro­por­tion­ately higher costs and encour­age cov­er­age. The tax credit would be tar­geted to those firms with employ­ees whose aver­age wages fall below a cer­tain thresh­old. [Read More]

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