Tag Archives: Healthcare

43% of H1N1 Vaccine supply getting incinerated

The inevitable consequence of central planning.

About a quarter of the swine flu vaccine produced for the U.S. public has expired — meaning that a whopping 40 million doses worth about $260 million is being written off as trash.

“It’s a lot, by historical standards,” said Jerry Weir, who oversees vaccine research and review for the U.S. Food and Drug Administration.

The outdated vaccine, some of which expired Wednesday, will be incinerated. The amount, more than twice the usual leftovers, likely sets a record. And that’s not even all of it.

About 30 million more doses will expire later and may go unused, according to one government estimate. If all that vaccine expires, more than 43 percent of the supply for the U.S. public will have gone to waste. (Read more from theintelhub.com)

Insane IRS Mandate Slipped into Health Bill

Most people know about the individual mandate in the new health care bill, but the bill contained another mandate that could be far more costly.

A few wording changes to the tax code’s section 6041 regarding 1099 reporting were slipped into the 2000-page health legislation. The changes will force millions of businesses to issue hundreds of millions, perhaps billions, of additional IRS Form 1099s every year. It appears to be a costly, anti-business nightmare.

Under current law, businesses are required to issue 1099s in a limited set of situations, such as when paying outside consultants.

. . . .

Basically, businesses will have to issue 1099s whenever they do more than $600 of business with another entity in a year. For the $14 trillion U.S. economy, that’s a hell of a lot of 1099s. When a business buys a $1,000 used car, it will have to gather information on the seller and mail 1099s to the seller and the IRS. When a small shop owner pays her rent, she will have to send a 1099 to the landlord and IRS. Recipients of the vast flood of these forms will have to match them with existing accounting records. There will be huge numbers of errors and mismatches, which will probably generate many costly battles with the IRS. (Read more from cato-at-liberty.org)

Small business lobby joins challenge to health law

The nation’s most influential small business lobby is joining a court challenge to President Barack Obama’s health care overhaul, arguing that Americans cannot be required under the Constitution to obtain insurance coverage.

The National Federation of Independent Business will announce Friday it is joining a federal lawsuit filed in Florida by 20 state attorneys general and governors, NFIB President Dan Danner said in an interview.

. . . .

A groundswell of opposition to the law from small business owners prompted NFIB’s decision to join the court challenge, said Karen Harned, a senior lawyer for the group. “The second the law was signed, NFIB was hearing from its members: ‘What are you all going to do about this?’,” said Harned. “So we hunkered down. We looked around. This state attorneys general lawsuit made the most sense for us. It’s the only one that has a national presence.”

Fluoride to stay in Iowa City water

Iowa City residents will continue to drink fluoride along with their tap water.

After considering concerns raised by some residents, City Council members said at this evening’s work session they’ve found no reason to drop the practice.

“Not seeing in my mind enough significant statistical data to imply harm, I’m not prepared” to end the practice, Councilmember Sue Mims said. (Read more from infowars.com)

Health Reform will cause some companies to STOP offering coverage

The new law seeks to limit those kinds of increases, while giving businesses incentives to cover more workers.

Here’s how:

• Businesses with fewer than 25 employees that pay an average of no more than $40,000 will get a tax credit – up to 35 percent of the company’s share of their total health care premium.

• Companies with 26-49 workers are unaffected.

• Businesses with 50 or more workers must offer coverage or pay $750 per worker. That penalty applies for every employee if even one signs up for government-subsidized insurance.

But there are potential problems. Case in point: It would be much cheaper for Dick Bus to drop the generous coverage he now offers and take the hit at $750 a head for his 120 workers. The penalty would be $90,000 a year. He’s currently spending $480,000.

Bus would save $390,000, but canceling his plan would force his workers to the health plan exchange and could cost more than they’re paying now. The Senate is considering an increase in the $750 penalty to prevent that scenario.

The law’s benefits are clearer for Fank Hesch and the four employees at his auto shop. He provides insurance for two, and pays $4,800 a year. Under the new law, he would get a tax credit of $1,680 and he says he would roll the money into health insurance for new workers as his business grows.

At the Lehigh Valley Zoo, CEO Rick Molchany pays $189,000 to insure 21 workers.

“Our health care is in excess of 10 percent of our annual operating expense,” he said.

As a non-profit, the zoo gets a smaller credit for insurance than other businesses. The savings – about $9,000.

When you add it all up, most small businesses could save up to 4 percent on what they pay for employee health insurance.

Nationally, that savings could exceed $10 billion. (Read more from cbsnews.com)

Obamacare by the numbers

Americans for Tax Reform today released the following “By the Numbers” breakdown of ObamaCare:

The number of new tax increases in the healthcare bill: 19

The number of tax increases that unquestionably violate President Obama’s “firm pledge” not to raise “any form” of taxes on families making less than $250,000: 7

The tax increase over the first decade if the healthcare bill becomes law: $497 billion

The top federal tax rate on wages and self-employment earnings under this bill: 43.4%

The annual tax hike for every man, woman, and child in America: $165

The top federal tax rate on early distributions from HSAs under this bill: 59.6%

The most parents of special-needs kids can save tax-free for tuition in FSAs (currently, the amount is unlimited): $2500 (Read more from atr.org)