Washington Watch - June 13, 2012


Washington Watch - June 13, 2012

NASE Survey: Self-Employed Believe Health Costs Will Rise Under ACA 

As the country waits to hear from the Supreme Court for a decision on the constitutionality of the Affordable Care Act, the self-employed are weighing in on the impact of the law on their business. According to a national survey by the National Association for the Self-Employed (NASE), the greatest opposition to the new law among the self-employed is seen among those who are the most familiar with it. Unlike most Americans, the more the self-employed and micro-businesses (10 or less employees) learn about the law, the less likely they are to support it.

“Our new data shows that even if the Affordable Care Act lowers coverage costs, over 65% of the self-employed and micro-businesses are unlikely or unsure if they will provide and pay for a portion of health coverage for their employees in the future,” commented NASE President Kristie L. Arslan. “This insight comes on the heels of a Government Accountability Office report that shows utilization of the Small Business Health Care Tax Credit is sadly low, especially under the country’s Main Street businesses, most of which do not even qualify for the credit because their business is deemed too small.”

Among the self-employed, the survey reveals the general opinion of the Affordable Care Act is fairly evenly divided, but one thing that nearly one in four believe is that the cost of their health coverage will increase after the law’s implementation. As was first indicated in both the NASE’s 2005 and 2008 surveys on health care, satisfaction levels among the self-employed continue to be low when talking about insurance cost and affordability. These concerns show little signs of abating in 2014, when the individual mandate in the law is scheduled to kick in. At that point, the self-employed will be required to purchase both more expansive and more expensive coverage.

Click here to read more about the survey. 

Supreme Court Decision On Health Care

The Supreme Court will adjourn its session on June 29th and most experts expect the Court’s decision on the Affordable Health Care Act on June 28th. However, early this morning rumbling started across Capitol Hill that the Court’s decision could be released as early as tomorrow, June 14th.  

At the heart of the ruling will be the decision by the high court to decide if the individual mandate, which would require all individuals to secure health insurance or face financial penalties, is constitutional.

The Court’s ruling has the potential to upend those reforms that have already been initiated by the law and/or are in progress. Of interest, UnitedHealthcare, one of the largest health insurance companies, announced on Monday that regardless of the Supreme Court’s decision, they will continue to implement popular aspects of the health care reform act, including coverage of preventive health care services, coverage of dependents up to age 26, lifetime policy limits, rescissions and appeals.

NASE Expert Blogs: Cash Flow

A basic management tool to keep your finger on the pulse of cash flow is a cash position report. While every business needs to be producing monthly profit and lost statements along with cash flow statements, these reports are monthly pictures while the cash flow report can be created every week or even every day to give you a flash picture of your cash position.

Read more on the NASE blog Self Made

Washington Watch Online

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Courtesy of NASE.org