President Obama will sign the Health Care Reform Reconciliation Bill on Tuesday, March 30. The U.S. House of Representatives voted on March 25 to approve a “reconciliation” bill containing major amendments to the Senate-passed health care reform bill that was signed by President Obama last week. The Senate approved the bill earlier that day but made minor changes that required that it be sent back to the House for a final vote.
Among other things, the reconciliation bill dramatically increases the excise taxes that will be imposed on large employers (those with more than 50 full-time employees) that do not offer a qualified health insurance plan to their employees and dependents-from an annual maximum of $750 to $2,000 per full-time employee if the employer has even one employee who receives a government tax credit.
The employer excise tax does not become effective until Jan. 1, 2014, which gives employers time to assess their options and plan strategies.
Healthcare Reform Bill to be Signed on Tuesday
President Obama will sign the Health Care Reform Reconciliation Bill on Tuesday, March 30. The U.S. House of Representatives voted on March 25 to approve a “reconciliation” bill containing major amendments to the Senate-passed health care reform bill that was signed by President Obama last week. The Senate approved the bill earlier that day but made minor changes that required that it be sent back to the House for a final vote.
Among other things, the reconciliation bill dramatically increases the excise taxes that will be imposed on large employers (those with more than 50 full-time employees) that do not offer a qualified health insurance plan to their employees and dependents-from an annual maximum of $750 to $2,000 per full-time employee if the employer has even one employee who receives a government tax credit.