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Obamacare notice

1829 Views 13 Replies 8 Participants Last post by  Oconomowoc
Please be aware that one of the requirements of Obamacare is that employers send out a notice to employers about the need purchase health insurance before 12-31-13. This notice should be given to employees by October 1st or penalties may be accessed.

Sample letters are available at the Department of Labor website.

http://www.dol.gov/ebsa/healthreform/index.html
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Not that I have employees, but... how is that my job?
I'm placing my bet.

I'm betting that the Obama care is going to get scrapped by politicians before it starts. If not, I think the poop is going to hit the fan when employers actually have to start paying and there is going to be enough turmoil to get the plan abolished. I Hope!

If it does go through then I will either reduce my employee's pay to offset the cost, or close my business. I will let the government put me in jail before I pay my employee's insurance from my pocket. And...that is a promise!

Then, if I close my business I will file for unemployment, and/or go on the welfare, and get all my medical needs for free.
You don't really mean that. If you had to choose between making 6 figures from running your business vs. taking a handout that's 1/6 of what you make, you'll gladly keep your business open.

Don't cut off your nose to spite your face.
Then, if I close my business I will file for unemployment, and/or go on the welfare, and get all my medical needs for free.
This was covered in a thread a couple weeks ago. If your gross receipts are under 500k, you don't need the letters.
Pcplumber is going to jail? Watch your corn hole dude!
Probably not.
I'd be willing to bet though that lots of people have their bank accounts frozen.
After all, the enforcer of all this is the IRS. Probably no more complicated than a simple form emailed to your bank and voila....you're busted.
Pcplumber is going to jail? Watch your corn hole dude!
I doubt people will have bank accounts frozen, that would cause anarchy in the streets. It's not quite that bad.
Probably not.
I'd be willing to bet though that lots of people have their bank accounts frozen.
After all, the enforcer of all this is the IRS. Probably no more complicated than a simple form emailed to your bank and voila....you're busted.
You are right!

Probably not.
I'd be willing to bet though that lots of people have their bank accounts frozen.
After all, the enforcer of all this is the IRS. Probably no more complicated than a simple form emailed to your bank and voila....you're busted.
I know it would never really come down to going to prison because you are right and the IRS would freeze and seize everything. That is the only downside. Otherwise, I could use a vacation and would not be afraid to go to jail (for a short time) if it made a point and did some good.

Once I become a felon I would lose my license, anyway.
You really think that if fines and penalties are imposed, along with interest...and the money isn't paid, they won't do something like freeze your accounts?

Maybe not right away, but don't pay and see how friendly and understanding the IRS is.
I doubt people will have bank accounts frozen, that would cause anarchy in the streets. It's not quite that bad.
No idea really. I can't control it so I don't think about it anymore. All I can do is make money, invest and prepare for the worst. Obama is gonna do what he's gonna do, like a freight train.
You really think that if fines and penalties are imposed, along with interest...and the money isn't paid, they won't do something like freeze your accounts?

Maybe not right away, but don't pay and see how friendly and understanding the IRS is.
That's what this discussion is all about...preparing for the worst.:thumbsup:
No idea really. I can't control it so I don't think about it anymore. All I can do is make money, invest and prepare for the worst. Obama is gonna do what he's gonna do, like a freight train.
I got notice from both my book-keeping company as well as my CPA about this as well yesterday.

Fortunately, I don't meet the standards to actually have to send the notice, but I will anyway.

Perhaps I will start visiting P&R here to vent my frustration with who will benefit the most from this wreck. YIKES!:eek:
Yeah, the only way to prepare is to have money. It always comes down to money.
That's what this discussion is all about...preparing for the worst.:thumbsup:
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