Two pieces of health care legislation passed by the U.S. Congress and signed into law by President Obama earlier this year have sparked much interest and many questions. The Patient Protection and Affordable Care Act along with the Health Care and Education Reconciliation Act of 2010 contain many provisions, some of which aren’t effective until as late as 2018.
There are a few key provisions, however, that are effective beginning in 2010 including a small business tax credit and allowance of coverage through parents’ medical insurance for individuals up to age 26.
Here are several website links that may be helpful when looking for answers to specific questions or just to get general information:
- Health Care Credit information for businesses
- 2010 Health Insurance Reform Tax Credit Calculator for Small Business
- A government website for health insurance shoppers
- Summary of the health care reform legislation
Keep in mind that changes to these laws can still happen. Already the IRS has delayed mandatory Form W-2 reporting of medical plan coverage costs by employers to employees that would have been effective in 2011. And with elections coming up in November, there is no guarantee that these provisions will remain untouched in years to come.