How Will your Taxes Change when Health Care Is Instituted?

Two health care reform bills became law in the United States in March of 2010. The first, The Patient Protection and Affordable Care Act was enacted on March 23. This was then followed seven days later by another bill, The Health Care and Reconciliation Act of 2010, which amended the former legislation.

These bills came into being in response to several issues such as the policy of insurance companies to deny coverage to people with pre-existing conditions, the number of Americans who had been driven into bankruptcy due to medical expenses even though they were covered by an insurance policy. Fortunately, you medical practice could see an increase in business through Healthcare Marketing. By focusing on your medical practice management , you can inform patients about the various ways the new healthcare system will work and how it will affect their taxes.

Since many people are unsure of the new healthcare plan it is important that you inform them through your own healthcare marketing and healthcare advertising. A good doctor with an established clinic or a physician opening a medical practice should take into consideration the overall implications of the healthcare laws.

These laws will affect doctors and patients alike, and when it comes to taxes, some people will see increases in their Medicare payroll tax for individuals making over $200,000 and for couples making over $250,000. Your medical advertising is sorely needed to explain to your patients how they will be taxed, as to avoid any potential complications that can arise with regard to patient harmony.

Doctors who want to start a medical practice will need comprehensive medical practice management to guarantee they follow every nook and cranny of the impending healthcare bill.

But there is opportunity for growth through the expansion of medical coverage. Patients without medical insurance before the healthcare bill were unable visit a doctor, now that they will have medical coverage they become very important patients for medical practices. Your medical marketing and medical advertising should target these new patients in an effort to make them life long customers.
The new healthcare laws are going to change taxes for some Americans, but for the majority of America it will have a calming effect in that it will increase patient care, help doctors treat patients and enable the whole of the American people to have access to healthcare. Healthcare will mostly affect the highest earners in America. A married couple who earn $300,000, which is divided evenly between earnings and capital gains, their total salaried income would be subject to a combined 2.9 percent Medicare tax, which is split evenly between employer and employee. And their first $100,000 in capital gains would not come under the Medicare tax; however, the couple would have to pay 3.8 percent Medicare tax on the remaining $50,000.

Times are changing and it’s important for your medical practice that you take the every avenue into consideration for your medical practice management.

Learn how to Start a Cash Only Medical Practice with www.HippocratesPublishing.com.

For more information about medical practice management please visit http://www.hippocratespublishing.com/