Finance expert Mike Periu on a New 63 USD Fee that is intended to help offset the costs of implementing Healthcare Reform.
As the regulations for Healthcare Reform are formulated and finalized, small-business owners need to be aware of a new fee that will be assessed beginning in 2014. The fee will be collected for 3 years and is set at $63 per insured person in the first year and is supposed to decline after that. The fee is meant to help offset the cost for insurance companies as they comply with requirements to provide coverage for people with pre-existing conditions. The fee is expected to generate $25 billion most of which will be placed in a federally administered fund and the rest will be given directly to the Treasury Department. Employers will have to pay the fee in advance on behalf of their employees. Individuals who purchase their own policies and do not participate in group policies, as many small-businesses owners do, will still be responsible for the fee.
A little about Mike Periu
Periu founded Proximo, LLC nearly 15 years ago. The company provides small business education and training services with an emphasis on finance and technology.
Periu teaches empowerment through entrepreneurship and economic opportunity. He regularly appears on television and radio talking about these subjects.
Periu also writes for leading blogs about finance. These include: American Express OpenForum, Yahoo! Finanzas and the Huffington Post.
Periu studied Finance and International Business at Georgetown University. He is a Board member at the Council for Economic Education.
