JUNE 2010 NEWSLETTER
Summer seems to be settling in, bringing with it the scent of barbeque, 3 D movie
sequels, ice cream cravings and vacation dreams. The end of this month will start the
second half of "twenty ten." Expect to hear some new buzz words/phrases now that the
recently passed health care reform bill, The Patient Protection and Affordable Care
Act, starts coming into focus. Here are just a few to watch for:
Small Employer Health Insurance Credit
400% of the federal poverty level
Minimal essential coverage
Reinsurance program
Free choice voucher
Assessable payment
3.8% Medicare surtax
Hire Act
We have a booklet, “What Health Care Reform Means for Your Business”, regarding the
new bill available for pick up in our office and on our website: www.jwtcpa.com. We
strongly suggest that you review the booklet, as many of these new provisions will
influence your personal and business planning. Some highlights of the health care bill
that are effective for 2010 are:
Small Employer Health Insurance Tax Credit
Reinsurance program for age 55 or older retiree health coverage
Dependent coverage through age 26
No lifetime caps on dollar value of health benefits
No preexisting condition exclusions for children
No rescissions unless fraud involved
Increase in exclusion for employer-provided adoption assistance
As with all tax legislation, the intricacies of this new bill are many, with effective dates
ranging from immediately to 2018. Please don’t hesitate to call us for guidance, and if
you would like a booklet mailed to you, give us a call. Taxes are what we do so that you
can do more of that fun summer stuff!
Sincerely,
John W. Trudell, CPA
May 2010 Newsletter
Christmas 2009 Newsletter