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Decoding Healthcare Reform: A Small Business Perspective Presented by & This presentation is provided with the understanding that the authors are not engaged in rendering legal, accounting, tax or other advice.  Any information contained herein is not intended to be used, and cannot be used, by you or any other person, for the purpose of avoiding penalties that may be imposed under federal laws.
Welcome ,[object Object],Pheasant Run Hotel and Resort in St. Charles
The Alternative Board
Helping Businesses Achieve Greater Success ,[object Object],[object Object],[object Object],[object Object]
What Is TAB? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
How to Learn More ,[object Object],[object Object],[object Object]
Rules For Today ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Dave Gotsch Bill Finestone Gene Levin Presenters Lead Benefit Consultant Joseph M. Wiedemann & Sons Managing Partner Lipschultz, Levin & Gray, L.L.C. Senior Tax Manager Lipschultz, Levin & Gray, L.L.C. Panel
 
March 23, 2010 President Obama Signs the Patient Protection and Affordable Care Act (Healthcare Reform Bill) into law. March 23, 2010
Full Time Equivalent 2,080 hours earned per year Full Time Employee 30 or more hours earned per week Healthcare Reform: 101
Healthcare Reform: 101 Full Time Equivalent ,[object Object],[object Object],Bob - 2,080 /yr Mary - 3,080 /yr Sue - 1,000 /yr Bruce - 880 /yr Hours Worked 2,080 /yr 2,080 /yr 1,000 /yr 880 /yr Hours Counted 6,040 / 2,080 = 2.90
Timeline 2010 2018 Taxes 2010 Benefits 2010
Timeline ,[object Object],[object Object],Jan 2010
Timeline For the 2010 tax year , a qualified employer has 9 FTEs, with average annual wages of $23,000 per FTE.  The employer pays $72,000 in health care premiums for those employees.  The credit for 2010 equals $25,200 (35% x 72,000). Example Jan 2010
[object Object],[object Object],[object Object],[object Object],Timeline March 2010
[object Object],[object Object],[object Object],[object Object],Timeline October 2010
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Timeline October 2010
[object Object],[object Object],Timeline Estimated Medical Services Cost* *Center for Medicare and Medicaid Services October 2010
Timeline ,[object Object],[object Object],[object Object],[object Object],Jan 2011
Timeline ,[object Object],[object Object],[object Object],[object Object],[object Object],Jan 2011
Timeline ,[object Object],[object Object],[object Object],[object Object],[object Object],Jan 2012
Timeline ,[object Object],[object Object],[object Object],March 2012
Timeline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 2013
Timeline Additional .9% Medicare tax on wages/self- employment income of high earners Jan 2013
Timeline Linda works for ACME.  She earns $100,000  and her husband Ted earns $210,000 at his  job.  Their combined wages of $310,000 are  $60,000 over the $250,000 threshold for joint  filers.  However, ACME is not required to  withhold any portion of the additional  Medicare tax from Linda’s salary, since it is  under $200,000.  And Ted’s employer  withholds the additional .9% tax only on $10,000 the earnings in excess of $200,000.  Since their employers don’t withhold enough to cover all their additional Medicare tax liability, Linda and Ted should take the shortfall into account for estimated tax payment purposes. Jan 2013
Timeline 3.8% Medicare surtax on unearned income of higher income tax payers. Jan 2013
Timeline David is single and has a modified AGI of $230,000.  Of that amount, $100,000 is net investment income.  His liability for the unearned income Medicare contribution tax is $1,140 - 3.8% of $30,000, the amount of his modified AGI in excess of $200,000. Example 1 Jan 2013
[object Object],Example 2
Timeline ,[object Object],[object Object],[object Object],Jan 2013
Timeline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Jan 2014
Timeline Out of Pocket Limits For HSA health plans - $5,950 for individuals - $11,900 for families Coverage for Clinical Trials  Employers must provide coverage for clinical trials for life-threatening diseases. Jan 2014
Timeline ,[object Object],[object Object],[object Object],[object Object],[object Object],Jan 2014
Timeline ,[object Object],Example 1 (No Coverage Offered) Jan 2014
Timeline ,[object Object],Example 2 (Unaffordable Coverage Offered) Jan 2014
Timeline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Jan 2018
Tax Recap ,[object Object],[object Object],[object Object],[object Object]
Benefits Recap ,[object Object],[object Object],[object Object]
    BCBS Monthly Rates Employee Monthly Contribution Annual Salary at 7.99%           PPO   Plan 72323 Plan 72323   Single   $600 $150 $22,528 EE/Spouse   $1,165 $350 $52,565 EE/Child(ren)   $1,157 $347 $52,115 Family   $1,720 $516 $77,496
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Ask Yourself…
Questions? This presentation is provided with the understanding that the authors are not engaged in rendering legal, accounting, tax or other advice.  Any information contained herein is not intended to be used, and cannot be used, by you or any other person, for the purpose of avoiding penalties that may be imposed under federal laws.
This presentation is provided with the understanding that the authors are not engaged in rendering legal, accounting, tax or other advice.  Any information contained herein is not intended to be used, and cannot be used, by you or any other person, for the purpose of avoiding penalties that may be imposed under federal laws.

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HealthCareReformReport Seminar

  • 1. Decoding Healthcare Reform: A Small Business Perspective Presented by & This presentation is provided with the understanding that the authors are not engaged in rendering legal, accounting, tax or other advice.  Any information contained herein is not intended to be used, and cannot be used, by you or any other person, for the purpose of avoiding penalties that may be imposed under federal laws.
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  • 8. Dave Gotsch Bill Finestone Gene Levin Presenters Lead Benefit Consultant Joseph M. Wiedemann & Sons Managing Partner Lipschultz, Levin & Gray, L.L.C. Senior Tax Manager Lipschultz, Levin & Gray, L.L.C. Panel
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  • 10. March 23, 2010 President Obama Signs the Patient Protection and Affordable Care Act (Healthcare Reform Bill) into law. March 23, 2010
  • 11. Full Time Equivalent 2,080 hours earned per year Full Time Employee 30 or more hours earned per week Healthcare Reform: 101
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  • 13. Timeline 2010 2018 Taxes 2010 Benefits 2010
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  • 15. Timeline For the 2010 tax year , a qualified employer has 9 FTEs, with average annual wages of $23,000 per FTE. The employer pays $72,000 in health care premiums for those employees. The credit for 2010 equals $25,200 (35% x 72,000). Example Jan 2010
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  • 25. Timeline Additional .9% Medicare tax on wages/self- employment income of high earners Jan 2013
  • 26. Timeline Linda works for ACME. She earns $100,000 and her husband Ted earns $210,000 at his job. Their combined wages of $310,000 are $60,000 over the $250,000 threshold for joint filers. However, ACME is not required to withhold any portion of the additional Medicare tax from Linda’s salary, since it is under $200,000. And Ted’s employer withholds the additional .9% tax only on $10,000 the earnings in excess of $200,000. Since their employers don’t withhold enough to cover all their additional Medicare tax liability, Linda and Ted should take the shortfall into account for estimated tax payment purposes. Jan 2013
  • 27. Timeline 3.8% Medicare surtax on unearned income of higher income tax payers. Jan 2013
  • 28. Timeline David is single and has a modified AGI of $230,000. Of that amount, $100,000 is net investment income. His liability for the unearned income Medicare contribution tax is $1,140 - 3.8% of $30,000, the amount of his modified AGI in excess of $200,000. Example 1 Jan 2013
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  • 32. Timeline Out of Pocket Limits For HSA health plans - $5,950 for individuals - $11,900 for families Coverage for Clinical Trials Employers must provide coverage for clinical trials for life-threatening diseases. Jan 2014
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  • 39.     BCBS Monthly Rates Employee Monthly Contribution Annual Salary at 7.99%           PPO   Plan 72323 Plan 72323   Single   $600 $150 $22,528 EE/Spouse   $1,165 $350 $52,565 EE/Child(ren)   $1,157 $347 $52,115 Family   $1,720 $516 $77,496
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  • 41. Questions? This presentation is provided with the understanding that the authors are not engaged in rendering legal, accounting, tax or other advice.  Any information contained herein is not intended to be used, and cannot be used, by you or any other person, for the purpose of avoiding penalties that may be imposed under federal laws.
  • 42. This presentation is provided with the understanding that the authors are not engaged in rendering legal, accounting, tax or other advice.  Any information contained herein is not intended to be used, and cannot be used, by you or any other person, for the purpose of avoiding penalties that may be imposed under federal laws.

Notas del editor

  1. I’m _______________ with the Alternative Board. We are your hosts today for this event – we truly hope you find the content stimulating and valuable. We are very pleased to have with us (bla bla from Samarai – you would have words for this) We have with us today a group of our current members and their employees, and we welcome them to the forum. We also have with us quite a number of you that are business owners, or service providers, who may or may not be very familiar with The Alternative Board. As such, I’d like to take a moment and share a bit of information about our organization.
  2. In a nutshell, we are an organization dedicated to helping privately held business owners, CEOs, and general managers achieve higher levels of business and personal success. We promise our members three things: You will make better decisions You will take focused action Your situation will improve. We make a difference in the bottom line performance of over a hundred companies here in Chicago, and thousands across the US.
  3. How do we do this? The core of our offering is the TAB board meeting – a group of non competing peer company leaders that meet monthly to work on, not in, their businesses. We also conduct monthly private coaching sessions, to ensure what gets discussed in the board meeting gets implemented. We bring to bear a number of proprietary tools to help owners. We hold educational sessions – today being a prime example And, our members are part of a broader resource network
  4. We know this process works. It might be a great fit for you, or someone you know or work with. We are very open to having a conversation where we can both learn more. There is a one page flyer on the table with our contact information, or you can find one of our facilitators here. We do know that you came today because you want to improve your business, and that is what we are all about. With that in mind, we will get to our program shortly. But first, one thing you probably can’t get too much of is networking. So, lets take about 5 minutes, and I’d like you to find and introduce yourself and your business to a few people around you that you don’t know.
  5. Change the math so it equals 2.90, add another ee.
  6. Add example for tax credit vs deduct
  7. Add example for tax credit vs deduct
  8. Title, estimated medical services cost Source is the center for medicare and medicade services
  9. Bill to give us an example of this.
  10. Bill to give us an example of this.
  11. Bill to give us an example of this.
  12. Add sl
  13. Add sl