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Trading Rights for Protections; Corporations protect fortunes
Topic Started: Mar 26 2014, 09:10 AM (399 Views)
colo_crawdad
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Once again, as usual, Berton ignores the facts that have been presented by others than him. Nothing here has changed. NOTHING!
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Berton
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Once again colo_crawdad makes the subject about Berton rather than admit he was wrong.

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colo_crawdad
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No,
Berton made the thread be about him and now he wants to make it about me. What's new?
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Berton
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colo_crawdad
Mar 27 2014, 05:04 AM
Berton
Mar 27 2014, 04:55 AM
No, I think you will find that the law requires for the company to provided insurance, not money to buy insurance, or be fined $2000 per person per year.

I take it that Berton believes that there is only one way for "a company to provided insurance." I have already demonstrated another method for a company to provide insurance. It is not an uncommon practice.

How the Employer Mandate Works:

The health care law doesn't "require" larger employers to provide health care to employees, but beginning in 2014 the law imposes penalties on businesses with over 50 employees that don't provide "affordable" health care to employees. Here are the details of this portion of the law:

Starting January 1, 2015, large businesses (those with 50 or more full-time workers) that must provide health coverage and do not provide adequate health insurance will be required to pay an assessment if their employees receive premium tax credits to buy their own insurance. These assessments will offset part of the cost of these tax credits. The assessment for a large employer that does not offer coverage will be $2,000 per full-time employee beyond the company's first 30 workers.

To be deemed "affordable," the health care insurance provided by the employer must pay for at least 60 percent of covered health care expenses, and employees may not be forced to pay more than 9.5 percent of their family income (before deductions and adjustments) for coverage offered by employers. The question of how an employer is supposed to know the amount of "family income" is not yet addressed.

If a business fails to provide any coverage or the coverage is deemed not to be affordable, the amount of the penalty is $2,000 per worker, but the first 30 workers are excluded from the calculation.


Minimum acceptable health care plan

To avoid the penalty imposed on larger businesses, the health plan they offer their employees must meet a minimum acceptable requirement. The U.S. Department of Health and Human Services (HHS), on its healthcare.gov site (https://www.healthcare.gov/), describes a "comprehensive package of items and services, known as “essential health benefits.” Essential health benefits must include items and services within at least the following 10 categories: ambulatory patient services, emergency services, hospitalization, maternity and newborn care, mental health and substance use disorder services, including behavioral health treatment, prescription drugs, rehabilitative and habilitative services and devices, laboratory services, preventive and wellness services and chronic disease management, and pediatric services, including oral and vision care."

http://biztaxlaw.about.com/od/healthcarebusinesstax/f/How-Does-Health-Care-Law-Affect-Business.htm

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