President Signs 1099 Repeal Bill

April 15, 2011

First rollback of healthcare law

As expected, President Obama signed the 1099 repeal bill that passed both the House and the Senate. The "Affordable Care Act" (ACA) required businesses to report to the Internal Revenue Service all payments for goods and services to other businesses of $600 or more annually. It was argued that this created an undue hardship for small businesses.

Also reported in the April 15, 2011 NAHU Newswire is a story about the deductibles for the minimum health coverage that some people will be required to buy under the new healthcare reform law. Deductibles are estimated for 2014 to be at least $2,750 for the least comprehensive single plan in the individual and small group market. Health and Human Services has yet to release what benefits must be included in the plans.

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