From Reform, to Law, to Implementation – Last Friday, I received two very informative updates that include some very easy to follow briefs on the new health care reform laws. Please view the detailed timeline and simplified format as well as the short new issue brief on the Small Business Tax Credit program. These briefs were prepared by NAHU. For more information on NAHU and all these issues, please visit nahu.org/leg and/or I can fill you in when we meet. Basically, it is our association that supports us so that we can support you the consumer.
With that said, I have taken only the main paragraphs out with a couple links. These links will provide you with what you need to know; one detailed and one simplified. The two links in the NAHU Update are their for your reference however, and I would recommend that you just stick with those two links for now as they will provide you with the timelines and how the law will affect us all. Two quick news flash paragraphs as they are definitely interesting.
Health Action Network Reported
Approved over unanimous Republican opposition in both chambers of Congress, this reconciliation bill increases the overall cost of the health care reform legislation by $65 billion, bringing the new total to $940 billion over the next 10 years.
NAHU Washington Update Reported
On Tuesday, President Obama signed into law the Health Care and Education Affordability Reconciliation Act of 2010, a companion package of “fixes” to the comprehensive Patient Protection and Affordable Care Act that was enacted last week. Taken together, the two measures make the most profound changes to our country’s private-market health care system in 50 years and levy nearly $438 billion over 10 years in new taxes targeted at high-income individuals, selected health care-related industries and corporate taxpayers.
At first read, I thought the number from above ($940 Billion) and the number from below ($438 Billion) were a contradiction until I realized that the $438 Billion they were referring to was that portion of the $940 billion that would be raised from new taxes.
Here is What You Need to Know!
During the past week, NAHU has updated our detailed timeline on reform provisions as well as our simplified timeline. NAHU has also prepared a new issue brief on the Small Business Tax Credit program. These two briefs along with the new issue brief on tax credits should be very helpful as a resource and will provide you with an outline of what is to come.
I plan on meeting with each of you over the next month to review these changes and discuss how they will affect you and your business. Also, I think this can provide a solid foundation upon which we can build as these updates come in and implementation deadlines are reached. As always, if you have any questions, please contact me at 310-414-9524 or by e-mail at [email protected].
