MN Digital Sales Tax and Affordable Health Care Act

MSAE's Financial & Accounting Networking Group met last November to discuss the MN Digital Sales Tax and Affordable Health Care Act.  Here are the top takeaways from the meeting:

• Health care is a moving target, no firm plans to change.
• It was not legislative intent to tax on demand education, dealing with how to handle it now.
• Can't have tax that is discriminatory (some taxed) - in-state vs. out-state.
• To change the MN Digital Sales Tax, we need a coordinated effort - stay tuned for updates and contact your congressperson.

These issues are sure to come up again, we'll keep you posted as we learn more.  

Health Insurance and Benefits

At the October Financial & Accounting Networking Group meeting, we discussed health insurance and benefits.  Some of the items covered were HSA's, self-insured portion, Obamacare, public/private exchanges, small business health insurance credit, tax provisions for 2014 and more.  Here are the top takeaways:

• Be more aware of what you are offering (programs, etc.) and look at it annually.  Individuals being insured need to be aware of plan - communicate costs to association with your employees.
• There are a wide variety of options out there - not one size fits all, you will pay if not aware. 
• Stay on top of new changes to the law.  

Health Lobby's Big War Chest

Reported in the Star/Trib (by Drew Armstrong-Bloomberg News 11/18/10)
Health insurers last year gave the U.S. Chamber of Commerce $86.2 million that was used to oppose the health care overhaul law, according to tax records and people familiar with the donation.

By funneling the money through the chamber,  (laws don't require identifying funding sources) insurers were able to remain at the table negotiating.

Really? And we wonder why our health insurance premiums are so sky high!

My rant for the day - indulge me

Everyday when I get home there is a message on my machine - a computer generated message from my health insurance company - they want to be my health advisor and coach. PLEASE! I thought that was what my Doctors were doing? It must be in conjunction with the very expensive, very unnecessary brochure that they recently mailed to my home. Is this where my very expensive health insurance premiums are being allocated? Just one more reason to lose my land line and to support health care reform. Of course this particular issue will probably not be addressed. But I can hope.