ski-hog's Obamacare info-----

[1NEMESIS]

Ok, ski, there is no mandate for small business to purchase healthcare for their employees. You do not have to provide insurance for them.

Good news?

If you do decide to offer healthcare to your employees, The Affordable Care Act right now will give you a 35% tax credit until 2014 and then it will increase to 50%.


Small Business Health Care Tax Credit

Health reform legislation signed by President Obama includes a Small Business Health Care Tax Credit to help small businesses afford the cost of covering their workers. See how the Small Business Health Care Tax Credit might affect four hypothetical small businesses.

Key Facts about the Small Business Health Care Tax Credit

The tax credit, which is effective immediately, can cover up to 35 percent of the premiums a small business pays to cover its workers. In 2014, the rate will increase to 50 percent.

The Congressional Budget Office estimates that the tax credit will save small businesses $40 billion by 2019.

Both small for-profit businesses and small not-for-profit organizations are eligible.

Key Elements


-Available Immediately. The credit is effective January 1, 2010. As a result, small businesses that provide health care for their workers will receive immediate help with their premium costs, and additional firms that initiate coverage this year will get a tax cut as well.

-Broad Eligibility. The Council of Economic Advisors estimates that 4 million small businesses are eligible for the credit if they provide health care to their workers. Qualifying firms must have less than the equivalent of 25 full-time workers (e.g., a firm with fewer than 50 half-time workers would be eligible), pay average annual wages below $50,000, and cover at least 50 percent of the cost of health care coverage for their workers.

-Substantial Benefit. The credit is worth up to 35 percent of a small business’s premium costs in 2010. On January 1, 2014, this rate increases to 50 percent.
Non-Profits Eligible. Tax-exempt organizations are eligible for a 25 percent tax credit in 2010. In 2014, this rate increases to 35 percent. (The credit rates are lower for non-profits to ensure that the value of the credit is approximately equal to that provided to for-profit firms that cannot claim a tax deduction for the amount of the credit claimed.)

-Gradual Phase-Outs. The credit phases out gradually for firms with average wages between $25,000 and $50,000 and for firms with the equivalent of between 10 and 25 full-time workers.

-Premium Cost Eligibility. To avoid an incentive to choose a high-cost plan, an employer’s eligible contribution is limited to the average cost of health insurance in that state.

[/I]


These are the links you need to keep track of what's going on with The Affordable Care Act for small business.

http://answers.healthcare.gov/categories/1701

http://www.healthcare.gov/law/timeline/index.html

http://www.whitehouse.gov/healthreform/small-business

[ski-hog]

Alright thank you very much, you didn't have to do all that

[1NEMESIS]

Originally Posted by ski-hog

Alright thank you very much, you didn't have to do all that

No problem, your a small business owner and that's important to the economy.
Anytime, just holler…...

[satexasguy]

BS 1Nemesis. The NOBama health care act is so full of political BS jargon that it is nearly impossible to say what impact it will have on small businesses.

Here is a section (from Title IV) on penalties for small business directly from the healtcare bill.

"b) EXCISE TAX WITH RESPECT TO FAILURE TO
5 MEET HEALTH COVERAGE PARTICIPATION REQUIREMENTS.—
7 ‘‘(1) IN GENERAL.—In the case of any employer
8 who fails (during any period with respect to which
9 the election under subsection (a) is in effect) to satisfy the health coverage participation requirements
11 with respect to any employee to whom such election
12 applies, there is hereby imposed on each such failure
13 with respect to each such employee a tax of $100 for
14 each day in the period beginning on the date such
15 failure first occurs and ending on the date such failure is corrected."

AND

"‘(c) EMPLOYERS ELECTING NOT TO PROVIDE
4 HEALTH BENEFITS.—
5 ‘‘(1) IN GENERAL.—In addition to other taxes,
6 there is hereby imposed on every nonelecting employer an excise tax, with respect to having individuals in his employ, equal to 8 percent of the compensation paid during any calendar year by such employer for services rendered to such employer."

Pelosi and her goons pushed through a half baked piece of legislative crap that has soo many loopholes and gotcha's that it will become a financial and legal mess to comply with. The ONLY people who seem to benefit from this bill is those that do not otherwise qualify for medical insurance or those that cannot afford it.

And as you stated in previous posts, there are so many exclusions that one can apply for that it basically makes the affordable health care bill a joke. The end result is that middle class americans WILL be burdened with paying more taxes (or IRS penalties for not purchasing health care insurance) to provide coverage for the poor.

This legislation needs to be revoked.

[1NEMESIS]

ski, if you want to check to see if satexasguy is telling the truth, just highlight what he posted like this:

b) EXCISE TAX WITH RESPECT TO FAILURE TO
5 MEET HEALTH COVERAGE PARTICIPATION REQUIREMENTS.—
7 ‘‘(1) IN GENERAL.—In the case of any employer
8 who fails (during any period with respect to which
9 the election under subsection (a) is in effect) to satisfy the health coverage participation requirements
11 with respect to any employee to whom such election
12 applies, there is hereby imposed on each such failure
13 with respect to each such employee a tax of $100 for
14 each day in the period beginning on the date such
15 failure first occurs and ending on the date such failure is corrected."

and then just enter the full text in your search field for google or whatever search engine you use and hit enter and read what comes up. Also, the links I gave you will let you see the bill in its entirety and Title IV.

If you need help to find them just ask….

[RobbThrobb]

There should be a mandate on ECCIE that posters who pass 50 posts need to post AN ACTUAL REVIEW, If not hit the road. I think that would slow down all the b.s. brainwashing being spewed by various types of MOONBATS.

[satexasguy]

1Nemesis - what i posted was a cut and paste from the official bill downloaded from the official government website.

You made my point pretty clear by your last post. The bill is a poorly written POS that if one were to try and create a flowchart to visually see what exceptions, rules, etc are in the bill, one would go crazy trying to follow it. Old time IT guys would call that spaghetti code because it goes all over the place.

[Mokoa]

As an Old Time IT guy myself, I have to say...

You really should not insult spaghetti code like that.

[satexasguy]

My apologies Mokoa. You could at least kinda follow spaghetti code. The NObama care bill is much worse ... more like a crock pot full of stirred shit.