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BI Weekly 5: Your health care reform costs

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Christopher Gerber (CGerber@BoatingIndustry.com)
November 27, 2012
Filed under Weekly 5

Editor’s Note: The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com

1. Your health care reform costs

Now that the Patient Protection and Affordable Care Act (or “Obamacare”) has survived an election and Supreme Court decision, business owners need to be making their plans for managing the changes brought about by the law. There are many new requirements and tax implications to consider when crafting health insurance programs (although many don’t apply to companies with less than 50 employees). Here’s a useful guide for employers, as well as a guide for taxpayers.

2. Consumers stay optimistic for future

Consumer confidence rose to its highest level in four years according to The Conference Board’s confidence index, released this morning.

The 73.7 measure was the highest since February 2008 as consumers felt more optimistic about rising home values and the job market.

That follow’s last week’s lower-than-expected Thomson Reuters/University of Michigan consumer sentiment index, which dropped from the preliminary November reading. Still, November’s final number, while down from earlier in the month, was at a five-year high for a month-end reading.

At the same time, the Bloomberg Consumer Comfort Index showed 37 percent of households expect the economy to improve in coming months, the highest mark in more than a decade.

3. Effective employee criticism

Many managers are uncomfortable with giving their employees constructive criticism. That mistake, though, can just lead to more problems down the road. Sales guru Geoffrey James offers six rules for how to criticize employees effectively.

4. Keeping employees

The old adage is that it costs you the equivalent of a good employee’s annual salary to replace them once you figure in search costs, training expenses, lost revenue, etc. So if you’ve got good employees you want to make sure you’re keeping them. Here’s a look at 10 reasons employees quit – and what you can do about it.

5. Tax moves to make now

There’s still time to implement changes in your business that will impact your taxes for 2012 and beyond. Thomson-Reuters tax analyst Jim Keller points out the moves you can still make.

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