Quote Originally Posted by ChunkyMonkey View Post
Per my CPA -
Medicare payroll taxes increases in 2013 from 1.45% to 2.35% for $250000 joint income or 200k single. Also the Investment side will be 3.8%.

2014 onward, Small business health insurance tax kicks in, this is where business owners will be hit by the insurance cost increases.

Moreover....
Employer mandate kicks in. Some business owners must provide insurance, pay penalties or even both! If you have 50 or more employees and do not offer insurance, the penalty is $2000 per full time (whoops everyone gonna be working part time then). In addition for >50 employees firm like myself, we must provide voucher to contributes toward employee's premium (employee's GAI is under 400% of federal poverty line)

Then you have to sum up part timers toward full time. In addition there are automatic enrollment for those with 200 workers or more. All these will increase premium.

No offense to those who are in the insurance business, but insurance companies still cannot compete beyond state border, so this will only strengthen their monopoly and price fixing!!!

Now do you know how many businesses who are barely hanging on? Probably as many as folks who live paycheck to paycheck due to the current economy. I suspect mid of 2013 to beginning of 2014, we will see many businesses falling out.
Thanks for the viewpoint. I'm in big business that offers medical plans, so I don't get the opportunity to see the impact at the small business level. Never was a big fan of Obamacare to begin with.