How shortsighted is this?
JULY 15, 2009
Small Business Faces Big Bite
House Health Bill Penalizes All but Tiniest Employers for Not Providing Insurance
WASHINGTON -- House Democrats on Tuesday unveiled sweeping health-care legislation that would hit all but the smallest businesses with a penalty equal to 8% of payroll if they fail to provide health insurance to workers.
Under the House measure, employers with payrolls exceeding $400,000 a year would have to provide health insurance or pay the 8% penalty. Employers with payrolls between $250,000 and $400,000 a year would pay a smaller penalty, and those less than $250,000 would be exempt. Certain small firms would get tax credits to help buy coverage.
According to 2006 data from the federation, businesses with between five and nine workers, representing about one million employers, had an average payroll of around $375,000 a year. A report from the Kaiser Family Foundation found that only about half of firms with three to nine workers offered health benefits in 2008.
No mention here of number of employees involved to be exempt.........................
Answer by mustbeGRACE at 2:26 PM on Jul. 17, 2009
Answer by itsmesteph11 at 2:31 PM on Jul. 17, 2009
Answer by mancosmomma at 2:58 PM on Jul. 17, 2009
Answer by yourspecialkid at 4:25 PM on Jul. 17, 2009