425 G. Street, Suite 405 Anchorage, Alaska 99501
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The material provided on this site is informational only and is not intended to provided legal or tax advice.
For detailed information please contact our office for a client specific review.
For detailed information please contact our office for a client specific review.
Alaska Employee Benefit Specialists
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Copyright AEBS 2010
Health Care Reform Timeline for Small Businesses
LITA EPSTEIN
March 25, 2010
Under the new health care reform law, small businesses will find major changes to how they must provide health coverage
and how much they must pay for it. Small businesses with more than 50 employees who don't offer health insurance may
have to pay a tax penalty. Here's a breakdown of when and how the new health care law will affect you as a small business
owner:
TIMELINE OF HEALTH CARE REFORM
Health care reform starting immediately:
-- A tax of 10% is imposed on the amount paid for indoor tanning services.
-- For tax years 2010 through 2013, small businesses with 25 or fewer employees that pay average annual wages of less
than $50,000 and purchase health insurance for their employees will be eligible for a tax credit of up to 35% of the
employer's contribution toward the employee's health insurance premium, as long as the employer contributes at least 50%
of a benchmark premium.
Small businesses with 10 or fewer employees who have annual wages of less than $25,000 will be eligible for full credit.
The tax credits phase out as firm size and average wage increases.
Tax-exempt small businesses that meet the above requirements are eligible for up to 25% of the employer's contribution
toward the employee's health insurance premium.
LITA EPSTEIN
March 25, 2010
Under the new health care reform law, small businesses will find major changes to how they must provide health coverage
and how much they must pay for it. Small businesses with more than 50 employees who don't offer health insurance may
have to pay a tax penalty. Here's a breakdown of when and how the new health care law will affect you as a small business
owner:
TIMELINE OF HEALTH CARE REFORM
Health care reform starting immediately:
-- A tax of 10% is imposed on the amount paid for indoor tanning services.
-- For tax years 2010 through 2013, small businesses with 25 or fewer employees that pay average annual wages of less
than $50,000 and purchase health insurance for their employees will be eligible for a tax credit of up to 35% of the
employer's contribution toward the employee's health insurance premium, as long as the employer contributes at least 50%
of a benchmark premium.
Small businesses with 10 or fewer employees who have annual wages of less than $25,000 will be eligible for full credit.
The tax credits phase out as firm size and average wage increases.
Tax-exempt small businesses that meet the above requirements are eligible for up to 25% of the employer's contribution
toward the employee's health insurance premium.
July 14, 2010
New Proposed Rule Would Modify HIPAA
A notice of proposed rulemaking (NPRM) was issued to modify the Health Insurance Portability and Accountability Act
(HIPAA) Privacy, Security, and Enforcement Rules.
New Proposed Rule Would Modify HIPAA
A notice of proposed rulemaking (NPRM) was issued to modify the Health Insurance Portability and Accountability Act
(HIPAA) Privacy, Security, and Enforcement Rules.