The state tax on health insurance premiums, paid by companies that buy health coverage from insurers, will increase from 1 percent to 1.35 percent, instead of rising to 2.25 percent as originally proposed. The tax hike was eased when the state instead transferred $60 million from a little-used insurance guaranty fund to the subsidy fund, instead of imposing the full tax increase.
THIS WEEK Groundbreaking moves Trenton A year’s worth of legislation has been aimed at making the Garden State friendlier to developers. Page 17 ® CONSTRUCTION / DEVELOPERS SPOTLIGHT $2.00 JULY 13, 2009 www.njbiz.com Businesses get break The Legislature seeks to protect the jobs Christina Mazza of employees who also volunteer as emergency services respondents. Page 6 Real Estate as tax hike on health insurance is reduced But small companies will The increase will go into the New Jersey Health Care Subsidy An executive at a real estate services firm still feel sting of increase Fund, which reimburses hos- stepped down to seize a new opportu- By andreW kitchenman pitals for providing charity care nity, enjoying more responsibility and A TAX INCREASE on thousands to patients who do not have any working with an underserved market. of small and midsized businesses health insurance. Page 8 would have been much worse if While it could have been much Finance not for a last- worse, health insurance executives minute legis- made clear that the outcome was lative rescue at best a partial victory, since they operation just and those they insure will still see a before the June tax increase. 30 state budget The tax hike was eased when the deadline. state instead transferred $60 million Sister Patricia Daly brings the gospel to the boardrooms of major corporations as the The state from a little-used insurance guaranty executive director of the Tri-State Coalition for Responsible Investment. tax on health John Leyman fund to the subsidy fund, instead of Sister act insurance premiums, paid by com- imposing the full tax increase. Smart business owners are focusing on customer service and other offerings to panies that buy health coverage The original increase would attract clients in the recession, instead from insurers, will increase from 1 have led to fewer people having of slashing their prices and thereby percent to 1.35 percent, instead of access to insurance, according to reducing their revenue. rising to 2.25 percent as originally Ward Sanders, president of the New Page 10 proposed. The increase sunsets Jersey Association of Health Plans. Catholic group encourages clean corporate conduct after one year. ➤➤ See TAX on page 4 Marketing Tips Minority-owned businesses Page 12 By Shankar P. Opinion FROM HER RENTED offices in a stone church building in Montclair, Sister Our Point of View: By controlling Patricia Daly, of the Caldwell-based Sisters of St. Dominic, takes the calling whether a company dismisses em- ployees who volunteer as emergency services respondents, the government of the gospel to corporate America, reminding them of their social, fiscal and environmental obligations. A familiar face at investor meetings, Daly has for 32 years taken on get fast track
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