According to the nonpartisan Congressional Joint Committee on Taxation, 96% of small businesses would see no tax increases under this proposal. Furthermore, all small businesses will greatly benefit from the insurance market reforms in the bill.Small businesses face many obstacles in achieving health care that other larger companies and organizations are able to overcome.
The bill includes key insurance reforms, which are of particular benefit to small businesses. The legislation prohibits insurers from excluding coverage based on pre-existing coverage, from selectively refusing to renew coverage, and from charging people different premiums based on their gender,occupation or pre-existing condition. Finally, the bill requires replica rolex datejust a standardized annual out-of-pocket limit so that no small business owner or employeeï¿½ï¿½s family face bankruptcy due to medical expenses.
The bill also includes a permanent tax credit to help small, low-wage businesses in offering coverage. The smallest firms with average wages below $20,000 would receive a tax credit equal to 50 percent of the employerï¿½ï¿½s share of the premium.The credit would phase out for employers with between 10 and 25 employees and average wages between $20,000 and $40,000.
From Business week: For one, as a business owner, a national insurance plan would be cheaper for me. Way cheaper. Yes, those critics are probably rightï¿½ï¿½socialized medicine will probably lead to higher replica horloges kopen individual taxes, longer wait times for treatment,lower-quality health care, and a strong urge to have tea and biscuits at 4 o'clock. But take a look at these numbers from a client of mineï¿½ï¿½a 50-person manufacturer in Pennsylvania. In 2008 it paid $375,000 net health insurance on a payroll totaling $2.086 million designer fashion jewelry. (This included the owners.) And this is for a pretty basic Blue Cross plan. That works out to 18% of its payroll cost. If we go with the President's 8% plan, the company would save about $208,000. If we opt for Kennedy's proposal, it would save $337,500 per year.