Health Care Reform Updates, Part 4 | When is the Right Time to Discipline? | Prepare Your Trucking Business Against Wildfires | Reacquaint Yourself with the CGL Damage to Property Exclusion | CSA 2010 Cargo BASIC

Dependent Coverage
Now that June is behind us we are beginning to see some of the impact of the Patient Protection and Affordable Care Act, more commonly called the Health Care Reform.  The most visible change that will now take place is the coverage extension for dependents up to the age of 26.  The new guidelines say that the dependent does not need to be a fulltime student nor live in their parents’ home.  The change became effective June 1, 2010 but does not need to be implemented until September 23, 2010.  Each insurance company has their own way of implementing the change.  You either have received or will be receiving specific information from your insurance company. 

Tax Credit
Tax credits for small employers are available in 2010 and will extend into the near future.  There are advantages and disadvantages to this tax credit opportunity.  To determine if it is to your advantage to take this tax credit it is strongly recommended that you consult your tax specialist.  By clicking on this link you can use the Tax Credit Calculator to get an estimate as to what type of benefit you may receive.  The Q&A document may also be of help to you in making your decision as to whether or not the tax credit will be of benefit to you.

Reform Timeline
As you continue to hear the Health Care Reform has a very lengthy timeline for implementing the proposed changes.  Some speculate that this is done so the details of the reform can be worked out.  There is no doubt that you as employers, insurance companies, support business and the Government are experiencing many challenges to achieve the goals of the Reform.  The attached timeline might be a helpful tool for you to keep in tracking the benchmarks of the Health Care Reform.