Tuesday, July 31, 2012

One of those tweaks will likely center on the tax breaks the bill provides for the smallest business




The small business owner from New Albany, Ohio thinks the Affordable Care Act the U.S. Supreme Court upheld Thursday will help lower the cost of providing health care to the 160 employees at her corporate travel agency, TS24.
Not so, says Krings. She said her company s health insurance premiums will rise much more slowly than the 30 percent a year increases she s been paying in recent years. By prodding younger, healthier workers to sign up for coverage, she said, the law will help offset the cost of covering older workers who consume disney world travel packages more care.
Small-business owners are going to face an onslaught of taxes and mandates, resulting in job loss and closed businesses, according to Dan Danner, President and CEO of the National Federation of Independent Business, one of the plaintiffs in the suit, which sought to strike down the law.
Left unchanged, (the law) will cost many Americans their employer-based health insurance, disney world travel packages undermine job creation, and raise health care costs for all," said U.S. Chamber of Commerce disney world travel packages President and CEO Thomas J. Donohue.
This law will have a dramatic, negative impact on every employer and employee in the United States and further constrain job creation and economic disney world travel packages growth, according to Matthew Shay, CEO of the National Retail Federation.
With Thursday s ruling, the 2010 health care law will continue to be phased in over the next five years. When fully implemented, it s expected to provide health coverage to about 30 million currently uninsured people, extending coverage to more than 9 in 10 eligible Americans.
Some provisions are already in effect. Young adults can stay on their parents' insurance up to age 26. Insurers can't limit how much a policy pays to each person over a lifetime. Co-payments disney world travel packages for preventive care have been eliminated.
disney world travel packages For months, small business groups have complained that uncertainty about the health care law had produced a chilling effect on job growth, as employers postponed hiring decisions until the law s legal foundation disney world travel packages was settled.
GOP vows to press for repeal Republicans have vowed to continue to press for the law s repeal, a prospect that will depend disney world travel packages heavily on the outcome of the November election. Even if they fail in that effort, disney world travel packages the sweeping scope of the law makes it likely that Congress will make changes in the next few years as its wider impact is felt.
"There have to be some tweaks, said Mike McAllister, CEO of Humana, one of the country s largest health insurers. This is a big bill and in these cases there are things disney world travel packages that have to be done in the next handful of years to make it better.
One of those tweaks will likely center on the tax breaks the bill provides for the smallest businesses, who have complained loudly about the $2,000 per worker penalty that the law imposes on companies that don t provide health coverage. That fee is partially offset by a tax credit for companies with 25 or fewer workers.
Krings said that argument doesn t make much sense. Maybe I m just not as smart as these other guys, she said. But the fact is when I need people I hire them regardless of a tax credit or a tax break. A tax itself does not dictate how I manage my business.
The law also includes provisions disney world travel packages to shift some of the cost of health care from employers to their employees, who will spend more of their own money when they seek medical care. The goal is to prompt patients to shop around for care rather than consume health products and services without regard for cost.
People will have cost sharing, which they will manage out-of-pocket, said Robert Kocher, a guest scholar at the Brookings Institution. That s going to lead to market-based competition disney world travel packages and tools coming on the market that show you the price that you'll pay for different providers. Those will vary by as much as 300 to 400 percent. That allows consumers to move towards the lower-priced, better-quality providers.
Once you create that kind of transparency, that s going to cause the consumer to take pause and say 'Wow: why is this so expensive?' she said. That s part of what is broken. There hasn t been this transparency. There hasn t been the personal responsibility to care so much about it."
"We need to move beyond politics and get on with trying to make the health care system work and make it cost-competitive," says Bill George, former Medtronic chairman & CEO, weighing in on the high court's health care ruling and what companies must do ...
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