Workshop on Health Care Act for Small Business Employers

Chamber member Integrated Financial Services is having a very timely, free workshop about the new national health plan. The event takes place Thursday, May 13 from 10:30 to 11:30 a.m. here at the Chamber building. While the event is cost-free, RSVP's are required at (260) 436-2001 or agents@i-fsi.com.

The workshop will feature Dave Racer, author of "Your Health Matters: What You Need to Know About U.S. Health Care," live via the Web. The workshop is designed specifically to provide information on health care compliance for small business owners (50 employees or less). Compliance begins June 23, 2010. Here's a few tidbits on the new health care law:

-Dependent care on all plans (after September 23, 2010) will be extended to age 26.
-After September 23, 2010 all plans must have no lifetime limit on coverage.
-After September 23, 2010 there can be no pre-existing condition waivers on children under age 19.
-For employees over age 55 and not eligible for Medicare, employer-provided health plans may be reimbursed for 80% of certain costs of providing health insurance to early retirees. Reimburesments may apply to claims exceeding $15,000 but not over $90,000.
-Small businesses may qualify for tax credits which are for companies with the equivalent of 25 full-time employees (firms with 50 half-time employees are eligible). The tax credit is up to 35% (25% for non-profits). Full credit is for firms with an average wage base under $25,000 with a phase out with average wages up to $50,000.

Integrated Financial Services will be discussing the issues listed above and the strategies that the small business owner may wish to implement before year end.