Tag Archives: Small Business Administration

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You Should Forward This …


whitehouse2

The Top Nine Ways a Government Shutdown Affects Real Americans

 

1. 800,000 federal employees will go without pay — and it’s unclear if they’ll receive back pay for time missed.

2. 3.6 million veterans may not receive benefits if the shutdown lasts over two weeks.

3. The Centers for Disease Control will have to stop its flu prevention program, just as flu season begins.

4. Food safety inspections will scale back their work, exposing millions to risk.

5. About nine million moms and pregnant women will no longer receive nutritional assistance from the Department of Agriculture’s Women, Infants, and Children program.

6. The Small Business Administration will be unable to process new loans, potentially slowing new small business growth.

7. National parks and museums will close across the country, damaging our travel and tourism industries by millions for each day the government remains shut down. (Yes, that means the Statue of Liberty is closed for business…)

8. Head Start programs across the country will start closing, ending educational and health benefits for low-income children.

9. Disability benefits could be interrupted, leaving vulnerable Americans without the support they rely on.

For more info, you can read the full article here:

http://my.barackobama.com/9-Facts-On-Government-Shutdown

Some House Republicans might be treating this showdown like a game — but its impacts are real for millions of Americans who are starting to feel the shutdown in their lives.

Help get the word out — forward this email, and share the impacts of a government shutdown with everyone who should know:

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Small business and ACA
Calvin W. Goings Regional Administrator Calvin W. Goings

The Affordable Care Act, Part 3

The U.S. Small Business Administration is committed to educating small business owners about the facts surrounding the Affordable Care Act, so that you can make an informed decision about what makes sense for your business – including whether you choose to apply for a tax credit.

Thanks to the Affordable Care Act, small businesses are benefitting from improved accountability and affordability in the health insurance market. As you prepare for the Small Business Health Options Program (SHOP) Marketplaces to begin open enrollment on October 1, it is important that small businesses, who offer health insurance to their employees, remember that you may also be eligible for a tax credit. This can significantly offset the cost of providing insurance, by crediting a percentage of small business owners’ premium contributions.

Through 2013, to qualify for a small business tax credit of up to 35 percent (up to 25 percent for non-profits) of your premium contributions, you must meet all of the following criteria:

·         Have fewer than 25 full-time equivalent employees

·         Pay average annual wages below $50,000

·         And, contribute 50 percent or more toward your employees’ self-only health insurance premiums.

Beginning in January 2014, this tax credit increases to 50 percent (35 percent for non-profits) and will be available to small businesses who meet the criteria listed above and who purchase coverage through the new SHOP Marketplaces (also known as Exchanges). This enhanced credit can be claimed for any two consecutive taxable years beginning in 2014 (or beginning in a later year) through the SHOP.

To determine whether your small business or tax exempt organization qualifies for the credit, the Internal Revenue Service (IRS) offers a helpful step-by-step guide. Visit http://www.taxpayeradvocate.irs.gov/ and search for the Small Business Health Care Tax Credit. If you have additional questions about the tax credit, or need assistance completing the necessary forms, call the IRS Business Help Line at 1-800-829-4933.

Once you’ve determined that you qualify for the credit, your tax professional can help guide you through the necessary steps to claim the credit which include:

·         Carrying the credit back or forward to other tax years.

·         Obtaining a refundable credit if you are a tax-exempt employer. (Note this is a federal tax credit. You may also be eligible for additional health care tax credits from your state.)

·         Using Form 8941, Credit for Small Employer Health Insurance Premiums, to calculate the credit. It’s also important to know that eligible small employers can claim the credit and still take a business expense deduction for the remainder of their premium contributions.

The Affordable Care Act allows small employers to offer health coverage in a way that makes sense for their business and works for their bottom line, and the SBA is committed to leveraging our resources and federal partnerships to connect you with the facts and resources you need to understand the law.

To learn more, visit www.sba.gov/healthcare.
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Small business and ACA


Hangout with the SBA and Cover Oregon to find out
The third in a series of three Google+ Hangouts brought to you by the SBA and Cover Oregon will discuss what small businesses need to know about Oregon’s Health Care Marketplace, Cover Oregon, and how they will access coverage through the web portal. Cover Oregon will address specific small business needs including:

  • How to request real-time carrier quotes including available plans and rates
  • The process to search for and select a medical plan and dental plan for employees
  • How to set up the open enrollment period for employees
  • The process for e-signature and carrier submission

Have additional questions about how the health care law will impact your business in Oregon? Watch the earlier Hangouts that covered specific topics of the Affordable Care Act like the Marketplace and the Small Business Tax Credit.

The first Hangout described the new Health Care Marketplace in Oregon, Cover Oregon. Through Cover Oregon, employers and individuals will be able to shop for health insurance plans and access financial assistance to help pay for coverage. The second Hangout covered the small business tax credit available under ACA and the eligibility requirements to qualify for it.

Join us September 17, 2013, 12:00 – 12:30 p.m. and learn how Cover Oregon can help you.

Registration is not required for these Hangouts.  Simply click on SBA’s YouTube channel www.youtube.com/sba or Google+ Page www.google.com/+sbagov and tweet your questions using the hashtag #CoverOregon.
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ACA


Calvin Goings, Regional Administrator Regional Administrator Calvin Goings

Affordable Care Act, Part 2

America’s 28 million small businesses are the backbone of our economy, creating two out of every three net new jobs and employing half of America’s workforce. From mom-and-pop stores and restaurants, to high-tech startups and productive manufacturers, small businesses are helping to drive our economy and create jobs in our local communities.

Many small business owners consider their employees to be part of their family, and providing benefits such as health care is one important tool they have to help retain their talented workforce and compete for skilled employees.

The U.S. Small Business Administration (SBA) is committed to giving small business owners the resources they need to start and grow a business– including access to critical information about how the Affordable Care Act (ACA) works.

Under the Affordable Care Act, small employers will have more options.

First, starting January 1st, 2014, small businesses with generally up to 50 full-time equivalent employees will be able to purchase health insurance through the online health insurance marketplace for small businesses, known as SHOP.

The SHOP Marketplace will offer employers a choice of qualified health plans from different private health insurers and make it easier for employers to make side-by-side comparisons between these plans, based on price and benefits.

SHOP also offers employers and their employees access to health insurance plans that must include a package of “Essential Health Benefits” like coverage for doctor visits, preventive care, hospitalization and prescriptions.  Any many small employers may be eligible for tax credits of up to 50% of their premium costs if they choose to purchase coverage through SHOP.

Enrollment starts on October 1st for coverage beginning January 1, 2014.

The Affordable Care Act allows small employers to offer health coverage in a way that makes sense for their business and works for their bottom line. And the SBA is committed to leveraging our resources and federal partnerships to connect you with the facts and resources you need to understand the law.

I hope you have found this information useful.  Please feel free to forward this to your friends and colleagues. If you have comments or questions for me, please contact Connie Marshall in my office at connie.marshall@sba.gov.      Sincerely, Calvin CALVIN W. GOINGS

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The Affordable Care Act 101 With SBA and Small Business Majority

As part of a robust education and outreach effort, the Small Business Administration and Small Business Majority are launching the Affordable Care Act 101 weekly webinar series.  Small business owners can learn the basics of the Affordable Care Act and what it means for their company and employees, including insurance reforms, the small business health care tax credit, the new health insurance marketplaces, and employer shared responsibility provisions.  Each week, SBA representatives will walk through the key pieces of the law so that small business owners can understand the facts and make the best, informed decisions they can about providing health insurance for their employees.

The Affordable Care Act 101 will take place every Thursday from now through the opening of the marketplaces in October.  Below are the registration links for the next three presentations.  Registration for later webinars will be available shortly.

Thursday, August 1 at 11:00 AM PDT: Click to Register Thursday, August 8 at 11:00 AM PDT: Click to Register Thursday, August 15 at 11:00 AM PDT: Click to Register

If you have any questions, please contact Chris Van Es at Christopher.vanes@sba.gov. Please forward this announcement to any interested stakeholders.