Imagine the time and money that will be necessary to implement the new health insurance mandate. Now imagine the time and money to implement the new 1099 mandate. Yes, there’s a new 1099 mandate included in the new health insurance law. Now every business, whether Home Depot or the local artist, must complete, submit, and send a 1099 for every company in which they spend $600 or more. https://higginscompanies.com/dental/more-az-dental-insurance-information/
If only it were that simple. Instead, these businesses will limit the number of companies that they deal with to lessen the number of 1099’s that must be completed. This will certainly put many small businesses out of business. Why go to your local hardware store and support their business when all business can be taken care of at one of those huge box stores.
Imagine the billions and billions of extra 1099’s now required by the federal government thanks to the new health insurance mandate. Every time you buy an airline ticket, purchase a health insurance policy, take a group out to eat, buy a piece of equipment for the office, a 1099 will now be required for those $600 and over purchases.
It seems at every turn this new health insurance law has a new surprise, the type of surprise that costs the American public billions of dollars and causes many jobs to be lost. And Democrats wonder why their seats are in jeopardy.
Michael Higgins
An Arizona health insurance broker.
602.405.8769