I was reading one of my favorite “popular” (non-technical) magazines the other day. In particular, the 27 November 2017 issue of Business Week.
One of the biggest problems with Obamacare is the the inability to determine what next year’s costs are really going to be. From the big insurers’ point of view, they feel that their inability to know who is (and how many who’s are) going to sign on to the program before they list their proposed premiums. From the small (and newly formed coops) insurers’ point of view it has been the changing rules as to who is responsible for the transfer payments from the lower cost insurance pool to the higher ones.
If you were a client of mine, you would have received a notice last December. Just when I was writing about the amazing fact that Congress finally passed a bill- a real authorization bill- for the Department of Transportation, one that funded bare-bones transportaton neds for five years, my notice informed clients that the bill included a slew of unrelated items. In particular, items that changed the way our taxes are computed, the way the IRS acts, etc.
There is a penalty that can be imposed as of 1 July 2015 to small business employers who reimburse employees for premiums paid for individual health insurance policies under Obamacare (PPACA). Yes, that means if you don’t offer insurance because your state does not offer plans for small employers and the various insurance companies charge rates that are outrageous, you can still be penalized. But, there are ways to fix this. Read on…