The National Commission on Fiscal Responsibility and Reform held its final public meeting on September 29, but did not disclose any recommendations it may make in its final report expected on December 1. The panel, known as the National Commission on Fiscal Responsibility and Reform, is charged with making recommendations to Congress by Dec. 1… Read more »
Today (September 23) is the six month anniversary of the passage of the Patient Protection and Affordable Care Act (PPACA). Beginning today, the following provisions from the law are in effect: For all health care plans: Insurers cannot deny coverage to children because of a pre-existing condition. Insurers cannot place lifetime limits on benefits. Insurance… Read more »
The Treasury Department is projecting the U.S. will run a record deficit of $1.47 trillion for fiscal year 2010, eclipsing last year’s record of $1.42 trillion.
The Senate reconvened briefly today to pass by unanimous consent a $600 million bill to increase security along the U.S.-Mexico border, but faces a much more crowded agenda when it returns from the August recess.
The IRS last week reminded tax-exempt employers about another provision in the health care reform bill that requires them to report the value of the health insurance coverage they provide on each employee’s annual Form W-2 beginning in tax year 2011.
According to the IRS, this reporting is for informational purposes only, to show employees the value of their health care benefits so they can be more informed consumers.