Health Care Bill & Small Business

[Diane Kennedy]

I've been quiet about the proposed health care bill and its impact on small businesses because there have been so many versions floating around.

But it looks like the House, Senate and President could all be in alignment on the bill, with something passing as soon as this weekend.

For a long time, the bill costs for small business have focussed on business that have more than 50 (or maybe 500) employees and only for full-time employees.

A week ago, the bill was revised to require employers to cover part-time employees as well. That doesn't make sense to me. I know a lot of people who work more than one part-time job. Is every employer required to cover them?

Besides the logistical nightmare, I worry about the costs that small businesses are going to have to face. The industries that will be most hit are those with lower paid employees - generally the businesses with the lowest margin. Companies that hire professionals and other higher paid employees already offer insurance.

So the people who will get hurt in the backlash (can't afford to keep them because employer can't afford the med ins cost) will be the people who can least afford to lose their jobs.

I'm also tracking down a rumour that this now applies to anyone who has more than 5 employees.

[john_b]

Just curious if this has been talked about on our forum here, regarding the requirement that all expenditures > 600/year trigger a 1099? Are they reading the bill correctly?

http://thefinancebuff.com/2010/05/1099- ... e-law.html

John B

[Diane Kennedy]

Currently we have to prepare Form 1099-MISC for individuals and partnerships that receive >$600 in payments. We're now required to also report payments made to corporations.

Suggestion: Get a Form W-9 on every vendor you pay for services. Do it now!

[brandmartha]

Health and physical activity tips including information on men's and women's health and wellness including advanced nutritional products for the immune system, joint health, weight loss and general health.


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