Implementation of the National Health Care Law. forum: First installment of health care implementation requirements
Views: 46, Replies: 5 » Jump to the end |
|
|||
| I will add a few events at a time so that we can all read and try to understand them before we're hit with the full implementation of this law. Health Law Implementation Timeline (H.R. 3590 as Revised by H.R. 4872) DISCLAIMER: This document describes the substantive provisions and effective dates of the legislation. Because of the lack of clarity, internal inconsistencies, and ambiguity in the text, many provisions will inevitably be subject to dispute or alternative interpretations. 2009 Events Prior to Date of Enactment • Medicaid: State Medicaid programs must offer premium assistance for the purchase of employer-sponsored health insurance and must also provide wrap-around benefits to such coverage (i.e., Medicaid-covered services not included in such employer-sponsored plans) when the cost to Medicaid for such coverage is less than the expected cost of providing full Medicaid benefits directly through the traditional Medicaid program. The statute’s effective date for this provision is February 4, 2009. (Sec. 2203) • Medicare: Effective starting July 1, 2009, the Secretary of Health and Human Services (the Secretary) must reduce the annual inflation update to Medicare payments for inpatient psychiatric facilities by 0.25 percentage points for rate year 2010. (Sec. 3401) • Medicare: Effective starting October 1, 2009, Medicare’s payments for certain outpatient department facility costs and ambulance services provided by critical access hospitals are increased from 100 percent of “reasonable costs” to 101 percent of “reasonable costs.” (Sec. 3128) • Indian Health: Extends the Indian Health Service authorization indefinitely by authorizing such sums as necessary to carry out the act for Fiscal Year 2010 and each fiscal year thereafter. (Sec. 10221; Sec. 825 of the Indian Health Care Improvement Reauthorization and Extension Act of 2009) |
|
|||
| Thanks for posting this Randy. |
|
|||
| I assume "Indian Health" refers to native americans? "Be who you are and say what you feel because those who mind don't matter and those who matter don't mind." - Dr. Seuss |
|
|||
| You would assume correctly Jeannie. The politically correct term "Native American" has not made it into the Federal Govt. lexicon as yet. |
|
|||
| what is the significance of medicare going from 100 to 101 percent on paying for "reasonable" services? and medicaid and medicare will be adminstered separately? will there still be a medicare/medicaid? or will it just be one entity? |
|
|||
| TAXES TAXES TAXES!!!!! Many of the tax increases we will see in just five short months won't have anything to do with the "health care" law. But most of the following are in that law. Brace yourself folks, it's a lot more that "one thin dime"!!! In just six months, the largest tax hikes in the history of America will take effect. They will hit families & small businesses in 3 great waves on Jan. 1, 2011: First Wave: Expiration of 2001 and 2003 Tax Relief In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011: Personal income tax rateswill rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below: - The 10% bracket rises to an expanded 15% - The 25% bracket rises to 28% - The 28% bracket rises to 31% - The 33% bracket rises to 36% - The 35% bracket rises to 39.6% Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut. The return of the Death Tax . This year, there is no death tax. For those dying on or after January 1, 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones. Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013. Second Wave: Obamacare There are over 20 new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include: The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). The “Special Needs Kids Tax” This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children! There are thousands of families with special needs children in the United States and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can not be used to pay for this type of special needs education. The HSA Withdrawal Tax Hike. This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10% to 20 %, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Third Wave: The Alternative Minimum Tax and Employer Tax Hikes When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. The major items include: The AMT will ensnare over 28 million families, up from 4 million last year! According to the left-leaning Tax Policy Center, Congress’ failure to index the AMT will lead to an explosion of AMT taxpaying families—rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers. Small businessexpensing will be slashed and 50% expensing will disappear! Small businesses can normally expense (rather than slowly-deduct, or “depreciate”) equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can expense half of their purchases of equipment. In January of 2011, all of it will have to be “depreciated.” Taxes will be raised on all types of businesses! There are literally scores of tax hikes on business that will take place. The biggest is the loss of the “research and experimentation tax credit,” but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs. Tax Benefits for Education and Teaching Reduced! The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Coverdell Education Savings Accounts will be cut. Employer-provided educational assistance is curtailed. The student loan interest deduction will be disallowed for hundreds of thousands of families. Charitable Contributions from IRAs no longer allowed. Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual “required minimum distribution.” This ability will no longer be there. PDF Version Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-a517... Now your insurance is INCOME on your W2's...... One of the surprises we'll find come next year, is what follows - - a little "surprise" that 99% of us had no idea was included in the "new and improved" healthcare legislation . . . the dupes, er, dopes, who backed this administration will be astonished! Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort. If you're retired? So what; your gross will go up by the amount of insurance you get. You will be required to pay taxes on a large sum of money that you have never seen! Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you will pay next year. For many, it also puts you into a new higher bracket so it's even worse. This is how the Obama government is going to buy insurance for the15% who do not buy health insurance and it's only part of the tax increases. Not believing this??? Here is a research of the summaries..... On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS- (sec. 9001, as modified by sec. 10901) Sec.9002 "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employees gross income." |
| « Back to the top « Cubits.org homepage « Tea Party Etc. cubit homepage « Implementation of the National Health Care Law. forum |
You must first create a username and login before you can reply to this thread.
