BTerrell Group Blog

The Impact of the Healthcare Reform Bill on Employers

Posted by Meredith Gooch on Fri, Oct 15, 2010

We wanted to share a couple main points from the healthcare reform bill for anyone who hasn't been able to make it to the recent round table luncheons we've been hosting. These bullets came straight from the presenters, Jack and Jonathan Reaves of The Reaves Agency. Keep in mind that timelines and qualifications applicable to many areas of the bill. This is just a snippet.

  • Everyone must buy insurance and get it either on their own or through their employer. 
  • Employers with 50 or more employees who do not offer coverage will be fined $2,000 per employee, but exempts the first 30 from the fine. (For example, if you have 51 employees you pay the fine on 21 employees.)
  • All individuals must have qualified health insurance in place by January 1, 2014. Failure to have insurance will result in a tax up to 2.5% of household income with a minimum of $695.
  • The definition of qualified medical expenses has changed so that over the counter medications are no longer eligible expenses for HSA’s, FSA’s, and HRA’s. FSA’s will have an annual maximum limit of $2,500. The penalty tax for use of HSA money for non-qualified medical expenses doubles from 10% to 20%.
  • Small businesses with fewer than 25 employees and average annual wages of less than $50,000 that purchase health insurance for employees may be eligible for tax credits for up to two years.

There is still time to sign up for one of the round table luncheons! Contact Meredith Gooch for more information or to sign up now!

Tags: jonathan reaves, impact of healthcare reform bill on employers, Jack Reaves

How Will The Healthcare Reform Bill Affect Your Company

Posted by Meredith Gooch on Thu, Sep 16, 2010

The Healthcare Reform bill that passed in March 2010 will directly impact every person in America for the foreseeable future. If you have been curious as to the specifics of how your business will be impacted, please join us for this round table luncheon on September 30, 2010 at Lawry's The Prime Rib.

We've brought in a guest moderator, Jonathan Reaves of The Reaves Agency, to facilitate the discussion. Jonathan spent many hours studying the bill and the impact it will have on businesses moving forward. In his business, he sees firsthand how this is already affecting companies of all sizes.

What's in it for you?

  • Learn key points of the healthcare bill that will have the most impact on employers
  • A great Lawry's lunch
  • 1 CPE credit for those who need it
  • A chance to win a $25 Starbuck's gift card

Who should attend?

  • Business Owners
  • Human Resources professionals
  • Anyone in an advisory role for other companies
  • Others in your business who work with your company's insurance plans

What: Round Table Luncheon
When: September 30, 2010 at 11:30 a.m.
Where: Lawry's The Prime Rib
Cost: $25 per person

Contact Meredith Gooch to learn more or to RSVP.

About the Moderator:
Jonathan Reaves began his insurance career working as a sales rep with two large, well-known employee benefit insurance carriers. This allowed him to gain an insider perspective and edge in working with his clients. After some successful years as a sales rep, he decided to combine forces with this father, Jack Reaves (founder of The Reaves Agency), to help companies with their insurance needs. Jonathan's goal is to provide the very best solutions to his clients' needs in practical, ethical, and well though ways.

Tags: healthcare reform, healthcare bill affect on employers, the reaves agency, jonathan reaves