Navigation Links
Health Care Reform Details Emerge with 'Play or Pay' Requirements, Leaving Some Wondering about Small Business Owner Insurance
Date:7/3/2009

As the health care reform details emerge, more entrepreneurs are wondering about health insurance for small groups and business insurance premiums. Now, they are getting some answers and are turning to websites such as the Small Business Health Insurance Network to find coverage.

Minneapolis, Minn. (PRWEB) July 3, 2009 -- The health care reform bills in being considered by the House, which has entrepreneurs worried about how this will affect health insurance for small groups and business insurance premiums. This latest development is prompting entrepreneurs to shop around for lower rates and more complete coverage by using sources such as Small Business Health Insurance Network.

Currently the plan proposes that employers need to pick up at least 72.5 percent of the cost of health insurance premiums for full-time employees. If a business chooses not to provide the minimum coverage required by the federal government, they will need to pay a fee based on 8 percent of their payroll.

There has not been a threshold determined for the size of a business. However, some are concerned about small business owner insurance. Rising rates of business insurance premiums and health insurance for small groups have been difficult for many entrepreneurs to manage.

According to PricewaterhouseCoopers, health insurance premiums increased by 9.2 percent for US businesses this year alone. The same increase is expected for next year, with small businesses typically taking on much higher increases.

On June 19, the chairmen of three House committees with jurisdiction over health care introduced their draft legislation that gave information about how the new plan would affect small business owner insurance.

Under the proposed bill, small businesses could choose insurance plans from a national exchange that would include a government run plan and private insurers. In addition, small business owners would be able to utilize tax credits to help make the coverage more affordable.

To sort out the major details of the plan, there are some bullets that may be helpful to note.

-   Small businesses and individual can choose to be insured from either private or public plans listed among a national health insurance exchange.
-   If a small business cannot afford coverage, tax credits are available.
-   The "play or pay" fee refers to the line item that states employers that offer coverage would pay for 72.5 percent of the premium costs for full-time employees or pay a fee based on 8 percent of their payroll to the government.
-   The size threshold for businesses to be exempt from the "play or pay" fee has yet to be determined.

About the Small Business Health Insurance Network:
The Small Business Health Insurance Network is your premier choice for small business health insurance and self employed health insurance throughout the United States. Serving business owners nationwide; we access and provide insurance quotes from multiple healthcare providers.

Contact:
Marlene Brown   
Public Relations Specialist
612-385-1331

# # #

Read the full story at http://www.prweb.com/releases/small_business/health_care/prweb2602674.htm.


'/>"/>
Source: PRWeb
Copyright©2009 Vocus, Inc.
All rights reserved

Related medicine news :

1. 4 out of 5 CA Voters Demand Health Insurer "Code of Conduct"
2. Texas Health Resources Recognized by National Business Group on Health as Leading Employer Promoting Healthy Lifestyles for Employees
3. Cardinal Health Appoints Bruce Downey to Board of Directors; John McCoy Retires From Board After 22 Years
4. Health Care Reform and Chronic Disease
5. iMedExchange Launches Health Policy Resource Center
6. CDCs National Center for Environmental Health Works with Thomson Reuters to Help Identify and Track Illnesses Related to Harmful Algal Blooms
7. American Society of Medical Doctors Established to Protect the Bond Between Physicians and Patients; Organizing Doctors to Oppose Government-Run Health Care
8. Extreme Heat Causes Major Health Problems for Older Adults
9. Liverpool to strengthen health research in Africa
10. Connectyx Technologies Holdings Group, Inc. Signs an Agreement with Healthy Directions, LLC, Americas Largest Publisher of Alternative and Complementary Health Newsletters to Distribute its MedFlash EPHR
11. Its Time to Clean Up This Mess: Texas Surgeon Points Out Numerous Flaws in American Health Care Industry
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/24/2017)... Santa Rosa, California (PRWEB) , ... January 24, 2017 , ... ... named Cary McNamara as chief financial officer. , “Cary’s broad financial ... individual who possesses both the strategic planning and day-to-day financial operations skills we need ...
(Date:1/24/2017)... (PRWEB) , ... January 24, 2017 , ... ... advance to the semi-final round of the 2017 Cupid's Cup Entrepreneurship Competition. Chaired ... its 12th year in 2017. The entrepreneurs will showcase their businesses on February ...
(Date:1/24/2017)... ... January 24, 2017 , ... His message has been heard by ... organization End Distracted Driving , Joel Feldman, has reached his biggest national audience ... in one of the top newspapers in circulation in the country, and he hopes ...
(Date:1/24/2017)... Hill, N.C. (PRWEB) , ... January 24, 2017 ... ... Trump Administration is the focus of a new report from the Frank ... Kenan-Flagler Business School. , Influential business leaders, academics and policy makers identified concrete ...
(Date:1/24/2017)... ... , ... The NewKILO JRP, a three-year project of the European Metrology Research ... (EU), was completed in May 2015. The future definition will require the unit of ... which presents some challenges to establishing traceability to the mass scale. , This ...
Breaking Medicine News(10 mins):
(Date:1/24/2017)... -- Trifecta Clinical , a leading global provider ... Ward to Vice President of Commercial Operations.  Rick ... the promotion of Ericka Atkinson to Vice ... joins Trifecta from Greenphire where he was Vice President ... positions within the healthcare industry throughout his career.  "Rick ...
(Date:1/24/2017)... Results show Gamma Knife spares normal brain tissue ... Elekta (EKTA-B.ST) today announced new data demonstrating ... a higher radiation dose compared to linear accelerator (linac)-based delivery ... complex brain tumors, were published in the Journal ... ...
(Date:1/24/2017)... , January 24, 2017 www.Financialbuzz.com ... growing industries in the United States ... in 2016. In addition, Proposition 64, the California Cannabis Legalization ... 42.87% against on November 8, 2016. This outcome means that ... use and to grow a certain amount of cannabis for ...
Breaking Medicine Technology: