An interesting development in Washington Friday.
Senator Reid called for a vote on HR 4 which would repeal the 1099 requirement that was part of the Presidents health bill. The vote will be this week and we are cautiously optimistic it will pass. There is an amendment which is expected to fail and then the House bill will be taken up.
It takes 60 votes for passage.
I have been in contact with Senator Feinstein and Boxers office. I did not hear back from Senator Boxer and Senator Feinstein's office said the Senator had not decided but that she strongly wants to eliminate the 1099 requirement for small business. Senator Boxer has made similar comments
Please send me a return email asking Senators Feinstein and Boxer to support HR4. I will forward to their offices.
In California a committee of the Workers Compensation Insurance Rating Bureau recommended a 39.8% increase in pure premium rates effective July 1. This will now go to the full board and then the Insurance Commissioner. The recommendation of the Insurance Commissioner is not binding on the insurance companies.
This number is a little deceptive because it includes State Fund who controls 18% of the market and had a combined loss ratio of over 160% in 2010. Also there are companies making money in workers compensation.
Small Business California will be watching this closely.
Small Business California
2311 Taraval Street
San Francisco, CA 94116