Individual Health Insurance Policy will Increase 100% under OBAMACARE

The House Energy and Commerce Committee has released a report, based on internal documents from 17 insurance giants, including Aetna, Blue Cross, and Kaiser Foundation.

The report found that individuals will face “premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent. Meanwhile, small businesses can expect average premium increases in the small group market of up to 50 percent, with potential highs over 100 percent.”

One company said that new participants in the individual market could see a premium increase of 413 percent when new requirements on age rating and required benefits are taken into account, said the report. “The average yearly cost for a new customer in the individual market grows from $1,896 to $3,708 — a $1,812 cost increase,” it added.

But that’s just the average. Some people will see price spikes of over 400 percent. The reason is that millions of uninsured people, many with expensive preexisting conditions, are being added to the insurance pool.

The bottom line is that the government is mandating one-size-fits-all coverage that pays for every condition, from pregnancy to drug rehab, even if the buyer doesn’t want or need it.

Get a copy of the report: http://energycommerce.house.gov/sites/republicans.energycommerce.house.gov/files/analysis/insurancepremiums/FinalReport.pdf

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Published in: on May 21, 2013 at 8:14 am  Leave a Comment  
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Employers Must Use New Form I-9 Starting May 7, 2013

The U.S. Citizenship and Immigration Services (USCIS) released a new Form I-9 for verifying employment eligibility. All employers are required to complete a Form I-9 to verify the employee’s identity and eligibility to work in the United States.

After an initial grace period during which employers could use either the new or old Form I-9, use of the new form will be mandatory as of May 7, 2013. It is important that employers use the new Form I-9 because it contains a number of important changes from the previous form.

Continued use of the old form could subject employers to fines of $110 to $935 per instance depending on the non-compliance rate.

New Rules for Employees Paid by Commission – Effective January 1, 2013

AB 1396 provides that, by no later than January 1, 2013, all in-state and out-of-state employers shall have written agreements in place for employees who are paid commissions for providing services within the State of California.

The written agreement shall provide the method by which the commissions will be computed and paid. The employer shall also provide a signed copy of the written agreement to the employee and obtain a signed “receipt” for the written agreement from the employee.

Published in: on January 27, 2013 at 10:52 am  Leave a Comment  

MERCER’S 2012 QUALITY OF LIVING RANKING HIGHLIGHTS – GLOBAL

Mercer conducts this survey annually to help multinational companies and other organizations compensate employees fairly when placing them on international assignments. Mercer’s Quality of Living reports provide valuable information and hardship premium recommendations for many cities throughout the world. Mercer’s Quality of Living index list covers 221 cities, ranked against New York as the base city.

Vienna retains the top spot as the city with the world’s best quality of living, according to the Mercer 2012 Quality of Living Survey. Zurich and Auckland follow in second and third place, respectively, and Munich is in fourth place, followed by Vancouver, which ranked fifth. Düsseldorf dropped one spot to rank sixth followed by Frankfurt in seventh, Geneva in eighth, Copenhagen in ninth, and Bern and Sydney tied for tenth place.

In the United States, Honolulu (28) and San Francisco (29) are the highest-ranking cities, followed by Boston (35). Chicago is ranked 42nd, while Washington, DC, is ranked 43rd. Detroit (71) is the lowest-ranking of the US cities that Mercer surveys.

Globally, the cities with the lowest quality of living are Khartoum, Sudan (217); N’Djamena, Chad (218); Port-au-Prince, Haiti (219); and Bangui, Central African Republic (220). Baghdad, Iraq (221) ranks last.

This year’s ranking separately identifies the cities with the best infrastructure based on electricity supply, water availability, telephone and mail services, public transportation, traffic congestion and the range of international flights from local airports. Singapore is at the top of this index, followed by Frankfurt and Munich in second place. Copenhagen (4) and Dusseldorf (5) fill the next two slots, while Hong Kong and London share sixth place. Port-au-Prince (221) ranks at the bottom of the list.

The highest-ranking US cities on the city infrastructure list are Atlanta (13), Dallas (15), Washington, DC (22) and Chicago (28).

“In order for multinational companies to ensure their expatriates are compensated appropriately and an adequate hardship allowance is included in compensation packages, they must be aware of current events and local circumstances,” said Slagin Parakatil, Senior Researcher at Mercer. “Factors such as internal stability, law enforcement effectiveness, crime levels and medical facilities are important to consider when deciding on an international assignment, and the impact on daily life that could be encountered by the expatriate in overseas placements.”

The 2012 Infrastructure ranking is based on electricity supply, water availability, telephone and mail services, public transportation, airports and traffic congestion.

Quality of living ranking:
Vienna, Austria (1st)
Zurich, Switzerland (2nd)
Auckland, New Zealand (3rd)
Munich, Germany (4th)
Vancouver, Canada (5th)

Infrastructure ranking:
Singapore, Singapore (1st)
Frankfurt, Germany (tied 2nd)
Munich, Germany (tied 2nd)
Copenhagen, Denmark (4th)
Düsseldorf, Germany (5th)
Top 5 cities by region

For more information:
http://www.mercer.com/qualityoflivingpr

Published in: on December 5, 2012 at 10:09 am  Leave a Comment  

IRS standard mileage reimbursement rate increases to 56.5 cents on January 1, 2013

The Internal Revenue Service has announced the standard mileage reimbursement rate for business travel for 2013. Effective January 1, 2013, the standard mileage rate will be 56.5 cents per mile (up from 55.5 cents per mile in 2012).

Although employers are not required to reimburse employee travel at the IRS mileage rate, it is advisable to do so because other methods for providing adequate reimbursement are more difficult to prove.