Tuesday, March 23, 2010

Bail Bonds: How the New Healthcare Plan Will Impact a Bail Agent's Small Business

With all the recent press on government sponsored pretrial release programs and the legislative battles bail bond agents are fighting across the country, it is easy to forget about other national legislative issues. Issues that much like Pretrial Service Agencies could have serious negative impacts on a bail agents’ business just the same, if not worse. If you haven’t guessed it yet, I am talking about the historic healthcare vote that occurred yesterday on Capital Hill. No matter what side of the fence you are on when it comes to healthcare, one thing is certain, things will never be the same again.

So, it is now done. The United States House and Senate have finally passed a Universal Healthcare Bill (or Obamacare as some refer to it). So what is next? As a small business owner, like most bail bond agents are, the passing of this bill will have significant impact to you, your family and your business. Here are some things we think you need to know:
  • You and your employees will be required to buy health insurance or pay penalties up to $2,250 per family, per year.
  • If you do have insurance and your policy costs $10,200 per year you will pay a 40% excise tax
  • If you and your wife have worked long enough and hard enough that your total combined annual income is $250,000, your Medicare payroll taxes will basically double.
It is truly unfortunate to sit back and watch elected officials make promises to get into office and then break those promises once they are there. I remember hearing about how this new administration was going to be a champion of small business…I am not sure I see that…but we will have to wait and see…probably from the lobby of an overcrowded doctors office, but nonetheless we will have to wait.

I look forward to your thoughts.

Jerryism # 237
"Some folks would rather climb a tree to tell a lie then stand on the ground and tell the truth."
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