LIMA — The Lima Civic Center hosted a Healthcare Reform forum Wednesday sponsored by Lima Memorial Health System and St. Rita’s Medical Center.
The event, titled “What you need to do today...What you need to know for tomorrow,” focused on small-business compliance, tax credits, the healthcare reform timeline, summary of benefits and coverage, comparative effectiveness research fees, W-2 reporting requirements, exchanges, community rating and community wellness.
A panel of speakers, including Connie Miller, Bob Armstrong (Lima Memorial Health System) and John Renner (St. Rita’s Health Partners), addressed key requirements of the act that are currently enforced or will affect small businesses in the near future.
There is good news for small businesses. Under the healthcare reform law enacted in 2010, many small businesses and tax-exempt organizations proving health insurance coverage for their employees now qualify for a special tax credit.
“This credit specifically targets small businesses employing up to 25 employees, paying average wages of less than $50,000 per employee per year and maintains eligibility,” Miller explained. “Eligible employers can earn a tax credit of up to 35 percent.”
Benefit changes. Coverage requirements. Tax credits. Exchanges. When it comes to healthcare reform, there’s a lot to know – and a lot to do. Here are some key provisions that will affect citizens through 2018:
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