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:8/18/2017)... ... August 18, 2017 , ... Radabaugh & Associates, a ... communities in North-Central West Virginia, is embarking on a cooperative charity effort with ... area. , The Chestnut Mountain Ranch (CMR) is a Christ-centered boarding school for ...
(Date:8/18/2017)... ... 2017 , ... The Brian Gifford Agency, an Indiana-based firm providing asset protection ... Campagna Academy in a charity drive to provide for at-risk children and teens in ... Academy is a nonprofit organization that has offered critical programs to at-risk and foster ...
(Date:8/18/2017)... ... 2017 , ... “Emotions are sacred, valid, honored, encouraged. This is the memo ... Generation Mindful. To help change the mindset of parents and educators from punitive to ... the Time-In Toolkit, which launched on Kickstarter 3 weeks ago and fully funded in ...
(Date:8/18/2017)... ... 18, 2017 , ... Alcovit, a lime-flavored beverage that rids the body of ... its product now available through Jet.com. , After 25 years of development, the ... is designed to quickly detox the body thereby avoiding alcohol-induced hangovers. Whether you’re having ...
(Date:8/18/2017)... ... ... “Our Mountains to Climb: A Journey of Love and Faith Through Trials”: ... faith they shared to overcome struggles in life. “Our Mountains to Climb: A Journey ... Corcoran, a retired teacher and happily married since 1999; the author’s personal experiences drive ...
Breaking Medicine News(10 mins):
(Date:8/17/2017)... , August 17, 2017 DarioHealth ... Company with mobile health and big data solutions, ... agreements with domestic and non-U.S. investors for the ... and shares of the Company,s newly designated Series ... offerings. The Company expects to conduct a closing ...
(Date:8/15/2017)... HOUSTON , Aug. 15, 2017   Mostyn Law ... in Houston, Texas . The Mostyn Law ... the past 2 years. That is why Mostyn Law ... Texas to show its appreciation. Blood supplies ... to fall 5% short of hospital needs in August. That is ...
(Date:8/15/2017)... Aug. 15, 2017  Axium Pharmaceuticals Inc., the creator of the drug ... in the beginning stages of an IPO. The ... with the average cost of a prescription epilepsy drug being $450.00-$1200.00 for ... AXIUM PHARMACEUTICALS, INC ... Another staggering figure is the fact that Americans spent ...
Breaking Medicine Technology: