Tuesday, June 01, 2010

Show Notes 01 June 2010

Sunday June 6, 2010 5:00 PM Eastern
Historic Senator Theater in Baltimore, Maryland

Tonight on the program, we first talked about an email that has been going around that says HR3590 calls for rolling the amount of your health care premiums into your gross income and taxed. We verified this whole thing through Snopes.com and here is what we learned:

In general, beginning in 2013 (not 2011), H.R. 3590 imposes a 40% excise tax on the value of employer-sponsored medical insurance that exceeds a given threshold (initially $23,000 annually). This excise tax would be paid by the insurance company, not the employee, and is expected to affect less than 10% of families covered by health insurance:

Many employers pay most of the premium for health coverage. Workers pick up the rest but pay no taxes on the employer's often-substantial contribution. That's why many unions have bargained hard for generous health coverage over the years, even if that meant forgoing a bigger pay raise.

The new agreement would take away the tax advantage for a small portion of the health benefit by imposing a 40 percent tax on the amount by which the premiums for employer-sponsored health coverage exceed specified thresholds. That would be $23,000 a year for a family, starting in 2013. The tax on a $25,000 plan would be $800, or 40 percent of $2,000. The insurance company would pay the tax but would almost certainly pass it along to the employer and its employees.

That $23,000 threshold is well above the current average of $13,400 for a family plan. By 2013, more than 90 percent of all family plans are projected to still fall below the threshold. In the following years, the tax threshold would rise more slowly than the likely rate of inflation in medical costs, which could mean the plans of millions of workers a small minority of the work force would be subject to the tax in theory.

Most likely, insurers will drop their premiums just below the threshold. They could do that by setting higher deductibles and co-payments, managing access to care more tightly, or reducing benefits.

Later...we welcomed cast and crew of the new movie, LEAVING HOLLYWOOD. The premise of the movie follows a child star from a National TV Sitcom who leaves the stardom and has to become acclimated again into "normal" life. It's an Independent film with a staff of hard working individuals. We had on the interview:

Be sure to check out the web site for more information about this very cool concept for a movie. We all see how child stars get along through tabloid papers now we get a glimpse into the more personal side of it and watch our star going through the trials and tribulations. Tickets are still available for the Red Carpet World Premiere on June 6, 2010 so get the information fast and make it a date to see the event and the movie.

The Behind The Mike Show presented by Reybold Self Storage

Leaving Hollywood Official Movie Web Site
Leaving Hollywood at the Internet Movie Database

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