Health Care Affects on Business
Feb 2nd, 2012
Generally speaking, all businesses in the United States will be affected by the hidden or not so hidden taxes in the health care reform bill as the clock ticks forward. Of course, all things being as they are, these hidden taxes will creep up incrementally so that it gives all businesses time to find creative ways to absorb the cost.
What is really interesting is that the entire health care reform bill is to mandate that every individual acquire some type of affordable health insurance over the next few years. Before the health care reform bill came into being there were on average, thirty million individuals who remained uninsured.
This could be because even a low cost health insurance is too expensive for some, or individuals made the decision they were equipped to pay for their health care needs out of pocket. Yet, even with the passage of the health care reform bill, the government estimates providing affordable health insurance for sixty percent of the fifty-four million citizens. Does this mean we will be facing the same difficulties in the future that we have been facing in the past?
Now we the people have a new health care system that will soon be in full force, costing everyone, especially all the businesses, more money than we were paying in the past. This also equates to each individual receiving less than quality health care because all health care will be rationed because of demand. How this will affect all business is the following.
1. Individuals with an annual gross income of two hundred thousand dollars will be paying an additional nine percent Medicare health care tax
2. Households with an annual gross income of two hundred fifty thousand dollars will be paying an additional nine percent Medicare health care tax
3. All taxpayers will pay a 3.8% tax in addition to the 35% tax currently paid on unearned income of an adjusted gross income over two hundred fifty thousand dollars
4. The health care taxes will grow even higher when the individual state taxes increase at the same time
How will all these new health care taxes affect you when you plan to shop for an appliance, an automobile, and groceries? Understandably, all business have what is called a turnkey factor to consider before they open their business up to the public. The cost of an affordable health insurance policy to cover all employees will cost more than it has ever cost before and the health insurance policy rates will continue to rise.
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