News from the Blues for Prroducers - Blue Cross and Blue Shield of Texas
May 19, 2010
Capitol Update
Read about what is happening on the federal legislative front (as of May 14, 2010).
Group Unveils Bipartisan Anti-Obesity Legislation
Recently authored bipartisan legislation, the Healthy CHOICES Act (Healthy Communities through Helping to Offer Incentives and Choices to Everyone in Society Act), H.R. 5209, was unveiled during an event on Capitol Hill. Sponsored by Representative Ron Kind (D-WI), the legislation takes a comprehensive approach to combating obesity.
The Act includes provisions to address factors that contribute to unhealthy lifestyles, such as:
* Increasing access to the tools and education to make healthy choices
* Updating nutrition guidelines for child and adult care food programs
* Increasing access to nutritional information and healthy, affordable foods in rural and low-income urban areas
* Improving access to and opportunity for physical activity for adults and children
* Providing more opportunities to participate in outdoor physical activities, including as a means of transportation
The bill’s original co-sponsors include Representatives Mary Bono Mack (R-CA), Earl Blumenauer (D-OR) and Marcia Fudge (D-OH). Due to the expansive nature of this legislation, it has been referred to numerous committees: House Education and Labor, House Energy and Commerce, House Natural Resources, House Transportation and Infrastructure, and the House Ways and Means.
“Making the healthy choice the easy choice for our families is essential to ensuring our quality of life,” said Representative Kind. “Easier access to the tools and education to prevent and treat obesity; affordable, nutritious food to promote a balanced diet; and an increased emphasis on physical activity to maintain our overall health is critical to achieving a healthy lifestyle. I am pleased to work on legislation that helps provide the opportunities that meet the needs of busy American families.”
The Act’s table of contents is:
1. Improving prevention and treatment of obesity in adults and children
2. Improving childhood nutrition
3. Improving access to and opportunity for physical activity for adults and children
4. Improving access to nutritional information and healthy foods
5. Realigning transportation policy to help promote healthy lifestyles
6. Research and assessment tools
“Rising obesity in our country is threatening the health and quality of life of far too many Americans and is costing our health care system billions of dollars,” said Representative Bono Mack. “It is time we take a stand that will help educate our young people and their families and make it easier to make informed, healthy choices, which will reduce health care costs in the future. I am proud to join my colleagues Congressman Kind, Congressman Blumenauer and Congresswoman Fudge in this important effort that will promote wellness education and encourage physical activity that will help Americans of all ages be more productive in school and in the work place and live healthier, happier lives.”
According to the Centers for Disease Control and Prevention, 73 percent of adults and 43 percent of children in this country are overweight, obese or severely obese. And in 2008, 32 states reported obesity rates of 25 percent or more. The Healthy CHOICES Act’s authors state that it is the first legislation of its kind that brings together the grocery industry, the health care industry and government to comprehensively fight the obesity epidemic.
This legislation comes at a time when First Lady Michelle Obama has unveiled her Let’s Move campaign’s action plan. The campaign’s goal is to end the epidemic of childhood obesity in a generation.
Read more about the Let’s Move campaign.
Read more about the Healthy CHOICE Act.
CBO Adds Billions of Dollars for Discretionary Spending Cost Estimate
On May 11, the Congressional Budget Office (CBO) released a report with additional information about the potential effects of the new health reform law, the Patient Protection and Affordable Care Act (PPACA), on discretionary spending that the CBO initially provided on March 13, prior to the legislation being passed.
The updated analysis adds a minimum of $115 billion over 10 years – more than twice the initial estimate released before President Barack Obama signed the bill into law. This new estimate brings the cost of the new law to well over $1 trillion.
CBO Director Douglas Elmendorf stated that while the CBO does not have a comprehensive estimate of all the potential discretionary costs, they provided information on the major components broken down into three general categories:
1. Costs incurred by federal agencies to implement the new policies
2. Explicit authorizations for grant and program spending for one or more years
3. Explicit authorizations for grant and program spending for which no specific funding levels are specified
Minority Leader John Boehner (R-OH) immediately released a statement admonishing the Administration, saying that the new estimate “provides ample cause for alarm,” and nearly wipes out “the purported deficit reduction in the law.”
A Senate Finance Committee Democratic aide said, “The bulk of discretionary spending referenced in the report is for programs – like the Indian Health Service, the National Health Service Corps and Federally Qualified Health Centers – that were not created under health care reform and would have been funded through the appropriations process, like they have for decades, with or without health care reform.”
Read the CBO’s full report.
Tax Extenders Bill Still in Play in the House
The House is expected to take up the American Workers, State and Business Relief Act of 2010, H.R. 4213, more commonly referred to as the “tax extenders” legislation, the week of May 17. House leaders want to bring legislation to the floor that will extend long-term unemployment insurance and the 65 percent COBRA health insurance subsidies for unemployed Americans, as well as dozens of tax credits for individuals and businesses that both the House and Senate supported in previous months, through the end of 2010. Currently, the legislation extends these benefits through May 31, 2010.
The bill would also delay a scheduled 21 percent payment reduction for physicians who treat Medicare patients – more commonly known as the “doc fix” – as mandated by the sustainable growth rate formula.
A Division of Health Care Service Corporation, a Mutual Legal Reserve Company,
an Independent Licensee of the Blue Cross and Blue Shield Association.
http://www.pages02.net/bluecrossblueshield/nftb_tx_prod_051910_capitol_update/
Thursday, May 20, 2010
Wednesday, May 19, 2010
Common Mistakes - To Outsource Life
To outsource life, one must understand why you would want to outsource life. Outsource the things in your life you do not want to do, you put off constantly, or the things that pile up due to time constraints. By outsourcing this life you leave time for the good life you want. To outsource life many common mistakes are made. Let us review a few of these mistakes when you outsource life.
A common mistake you might make before you begin to outsource is hiring an assistant without the skills you know you will be needing. It will not help to outsource life, especially the one you want to outsource if it takes longer to get them to a point they can do the tasks you need. This will be frustrating and fruitless.
A very common mistake made when you outsource life to a virtual assistant is that you assume the assistant knows as much about the task you are requesting to be done as yourself. Big mistake! Make your instructions for the task you want to outsource detailed, simple and understandable to a child. Simple, simple, simple. I cannot say it enough.
When you outsource tasks to be accomplished assume your assistant has no skills. You will need to explain everything, each step in detail in simple English. This is especially true if you outsource to an assistant from a foreign country. What is a basic skill to you may not be to the foreign assistant.
Another mistake made when you outsource is that you need to know how to delegate tasks. Most of us understand how to delegate to ourselves but to others we may not be as comfortable. Before you begin to delegate, define what you need done and establish its importance. By doing this, you will eliminate unimportant tasks or duties that are inefficient. Remember if you delegate unimportant or poorly defined tasks it costs you money. A goal to outsource life is to get processes and tasks streamlined, more efficient, while freeing up your time.
When delegating your outsourcing, instructions need to be laid out very clearly with all the decision points explained. Points like the type of results you expect, the format of documents, due dates, response rates to you, etc should be specified in advance so that the assistant knows from beginning to ending what the process is.
To outsource life you need to be informed of progress on a regular basis. What that regular basis is will be your decision. However, communicate this expectation to your assistant very clearly. Do not assume since you have not heard from your assistant that "silence is golden". This silence can be an indicator that your assistant may be clueless as to how to even ask questions about the task you have communicated. The thing you do not want to happen is for the due date to arrive and your assistant has not done anything you have requested.
Ask the assistant you outsource tasks to to contact you within say 6 hours of beginning the task to assure they are doing what you are expecting. This is a cautionary follow up but a good one to follow until you know your assistant can meet your expectations satisfactorily. Encourage your assistant to ask for better directions if you are not giving them.
To outsource life tasks you do not enjoy completing or do not have time for is the best way to get the life you really want. The goal to outsource life is for you to be free to focus on bigger and better things. By outsourcing life you can live the ideal lifestyle you crave. Outsource life to make a better life!
Rob Murgatroyd is the creator of Jet Set Money. To find out exactly how to outsource life and live the Tim Ferriss Four Hour Work Week visit his website here http://jetsetlife.tv/jet-set-money
Article Source: http://EzineArticles.com/?expert=Robert_Murgatroyd
A common mistake you might make before you begin to outsource is hiring an assistant without the skills you know you will be needing. It will not help to outsource life, especially the one you want to outsource if it takes longer to get them to a point they can do the tasks you need. This will be frustrating and fruitless.
A very common mistake made when you outsource life to a virtual assistant is that you assume the assistant knows as much about the task you are requesting to be done as yourself. Big mistake! Make your instructions for the task you want to outsource detailed, simple and understandable to a child. Simple, simple, simple. I cannot say it enough.
When you outsource tasks to be accomplished assume your assistant has no skills. You will need to explain everything, each step in detail in simple English. This is especially true if you outsource to an assistant from a foreign country. What is a basic skill to you may not be to the foreign assistant.
Another mistake made when you outsource is that you need to know how to delegate tasks. Most of us understand how to delegate to ourselves but to others we may not be as comfortable. Before you begin to delegate, define what you need done and establish its importance. By doing this, you will eliminate unimportant tasks or duties that are inefficient. Remember if you delegate unimportant or poorly defined tasks it costs you money. A goal to outsource life is to get processes and tasks streamlined, more efficient, while freeing up your time.
When delegating your outsourcing, instructions need to be laid out very clearly with all the decision points explained. Points like the type of results you expect, the format of documents, due dates, response rates to you, etc should be specified in advance so that the assistant knows from beginning to ending what the process is.
To outsource life you need to be informed of progress on a regular basis. What that regular basis is will be your decision. However, communicate this expectation to your assistant very clearly. Do not assume since you have not heard from your assistant that "silence is golden". This silence can be an indicator that your assistant may be clueless as to how to even ask questions about the task you have communicated. The thing you do not want to happen is for the due date to arrive and your assistant has not done anything you have requested.
Ask the assistant you outsource tasks to to contact you within say 6 hours of beginning the task to assure they are doing what you are expecting. This is a cautionary follow up but a good one to follow until you know your assistant can meet your expectations satisfactorily. Encourage your assistant to ask for better directions if you are not giving them.
To outsource life tasks you do not enjoy completing or do not have time for is the best way to get the life you really want. The goal to outsource life is for you to be free to focus on bigger and better things. By outsourcing life you can live the ideal lifestyle you crave. Outsource life to make a better life!
Rob Murgatroyd is the creator of Jet Set Money. To find out exactly how to outsource life and live the Tim Ferriss Four Hour Work Week visit his website here http://jetsetlife.tv/jet-set-money
Article Source: http://EzineArticles.com/?expert=Robert_Murgatroyd
Tuesday, May 18, 2010
The Importance of Keeping Proper Business Records - The Whys and Hows
The Importance of Keeping Proper Business Records - The Whys and Hows
By Leo Thomas
The importance of keeping proper business records cannot be overstated. Businesses amass a great deal of records, from incoming supplies to outgoing sales, from employee records to business contracts, from repair and expense receipts to revenues from business operations, there are records for everything. Keeping track of records and knowing what to save and for how long can be a daunting prospect. Saving documents can be both a time and storage space consuming issue for businesses. In general, records pertaining to financial transactions and employee records should be kept for a minimum of six years.
Governmental reporting for taxes and regulations regarding employees are generally the first instances illustrated when discussing the importance of keeping proper business records. These are very valid reasons for keeping records. Income (revenues) and expenses must be recorded for tax purposes and those records may be required several years after the year in which they occur and taxes were paid. Governmental regulators and agencies meant to serve employees can request documentation on a specific employee years after the period the record covers. As such, accurate documentation on pay and pertinent hiring information should be tracked and recorded.
Another reason illustrating the importance of keeping proper business records are the requirements of certain lenders and insurers. At some point, nearly every business will need to borrow money or obtain credit. Whether borrowing money to expand or using credit to procure supplies and raw materials, business credit is an important financial asset. As such, lenders will require documentation of past profits. They will use these records to compute future profit and loss projections. Similarly, whether insuring against losses from physical damages, covering liability, or protecting employee heath, insurance companies will often require both financial and/or employee statistics records.
The sale of a business also requires extensive documentation. It is quite possibly the most common illustration of the importance of keeping proper business records. Historical data on company finances plays a large role in determining the sale price of a business. Likewise, supplier and customer records, as well as the results of past marketing activities and expenses are invaluable to a new owner. This helps them prevent previous mistakes and continue achieving successful operations after the sale. For selling owners, financial records ensure an accurate sale price so they get what their business is worth when sold.
Article Source: http://EzineArticles.com/?expert=Leo_Thomas
By Leo Thomas
The importance of keeping proper business records cannot be overstated. Businesses amass a great deal of records, from incoming supplies to outgoing sales, from employee records to business contracts, from repair and expense receipts to revenues from business operations, there are records for everything. Keeping track of records and knowing what to save and for how long can be a daunting prospect. Saving documents can be both a time and storage space consuming issue for businesses. In general, records pertaining to financial transactions and employee records should be kept for a minimum of six years.
Governmental reporting for taxes and regulations regarding employees are generally the first instances illustrated when discussing the importance of keeping proper business records. These are very valid reasons for keeping records. Income (revenues) and expenses must be recorded for tax purposes and those records may be required several years after the year in which they occur and taxes were paid. Governmental regulators and agencies meant to serve employees can request documentation on a specific employee years after the period the record covers. As such, accurate documentation on pay and pertinent hiring information should be tracked and recorded.
Another reason illustrating the importance of keeping proper business records are the requirements of certain lenders and insurers. At some point, nearly every business will need to borrow money or obtain credit. Whether borrowing money to expand or using credit to procure supplies and raw materials, business credit is an important financial asset. As such, lenders will require documentation of past profits. They will use these records to compute future profit and loss projections. Similarly, whether insuring against losses from physical damages, covering liability, or protecting employee heath, insurance companies will often require both financial and/or employee statistics records.
The sale of a business also requires extensive documentation. It is quite possibly the most common illustration of the importance of keeping proper business records. Historical data on company finances plays a large role in determining the sale price of a business. Likewise, supplier and customer records, as well as the results of past marketing activities and expenses are invaluable to a new owner. This helps them prevent previous mistakes and continue achieving successful operations after the sale. For selling owners, financial records ensure an accurate sale price so they get what their business is worth when sold.
Article Source: http://EzineArticles.com/?expert=Leo_Thomas
Monday, May 10, 2010
How to Make QuickBooks Enter Transactions For You
Do you have a lot of transactions that repeat from day to day, week to week, month to month in your business? What about repeating transactions that need to happen once or twice a month? I'm sure you do. After all, if you have to pay rent, or make a car payment, then you have a repeating transaction. But what about invoices or sales receipts? Do you bill any of your customers the same amount monthly, weekly, daily? How about deposits? Do you receive a specific preset amount of money on a timely basis (like an insurance payment, disability, social security, or just a flat fee for services rendered)? What about vendor bills or credit card entries that are charged to your account every month?
All of these things, no matter how big or small, can be "Memorized" by QuickBooks. In other words, you can set them up so that QuickBooks does the data entry for you. It's really easy. All you do is set up the transaction as if you are about to enter it, then "Memorize" it. Once you do, QuickBooks will automatically enter the transaction as a check, bill, invoice, deposit, etc., as soon as the date you preset passes. Then, when you open QuickBooks after that date, you will be notified that the transaction(s) have been entered. This one little step can save hundreds and even thousands of minutes in data entry time.
Here's how to "Memorize" a Transaction in QuickBooks:
1. Create your transaction, but do NOT press "Okay" / "Enter" / "Save and Close." (You can also pull up a transaction you've already saved if you don't want to re-enter the information.)
2. With the transaction open, Press Ctrl M.
3. The screen that pops up should look something like this:
4. Choose "Enter Automatically", then the frequency (weekly, monthly, quarterly, etc.) under the "How Often" section.
5. Choose the next date you want the transaction entered (which is going to be the transaction for the NEXT month - Thus, you would choose February if you are entering January's transaction).
6. Choose the number of transactions remaining (which is useful for items such as car payments that are only paid for three years), and the number of days to enter the transaction in advance if you're going to mail that transaction in the future.
7. Click "OK" to return to the Original Transaction.
8. Press Ctrl Enter to Save That Transaction for THAT MONTH.
9. That's it. The next time that entry needs to be entered, QuickBooks will enter it when you open the program.
Quick Important Note: Once the transaction is Memorized, you can simply Close and then Reopen QuickBooks and QuickBooks will automatically enter ALL of those transaction from the first entry up to TODAY. That means, if you create an entry for January of 2007, but it's May of 2010, this transaction will be entered multiple times until all of the transactions have been entered up until today's date. What this means for anyone who's behind on their bookkeeping is that they only need to memorize one of each transaction and amount, then close and open QuickBooks to become instantly up to date.
Now go forth and take advantage of this fabulous tool. It will save you OODLES of time!
Let me know how it works for you.
QuickBooks PRO 2009
Article Source: http://EzineArticles.com/?expert=E._T._Barton
All of these things, no matter how big or small, can be "Memorized" by QuickBooks. In other words, you can set them up so that QuickBooks does the data entry for you. It's really easy. All you do is set up the transaction as if you are about to enter it, then "Memorize" it. Once you do, QuickBooks will automatically enter the transaction as a check, bill, invoice, deposit, etc., as soon as the date you preset passes. Then, when you open QuickBooks after that date, you will be notified that the transaction(s) have been entered. This one little step can save hundreds and even thousands of minutes in data entry time.
Here's how to "Memorize" a Transaction in QuickBooks:
1. Create your transaction, but do NOT press "Okay" / "Enter" / "Save and Close." (You can also pull up a transaction you've already saved if you don't want to re-enter the information.)
2. With the transaction open, Press Ctrl M.
3. The screen that pops up should look something like this:
4. Choose "Enter Automatically", then the frequency (weekly, monthly, quarterly, etc.) under the "How Often" section.
5. Choose the next date you want the transaction entered (which is going to be the transaction for the NEXT month - Thus, you would choose February if you are entering January's transaction).
6. Choose the number of transactions remaining (which is useful for items such as car payments that are only paid for three years), and the number of days to enter the transaction in advance if you're going to mail that transaction in the future.
7. Click "OK" to return to the Original Transaction.
8. Press Ctrl Enter to Save That Transaction for THAT MONTH.
9. That's it. The next time that entry needs to be entered, QuickBooks will enter it when you open the program.
Quick Important Note: Once the transaction is Memorized, you can simply Close and then Reopen QuickBooks and QuickBooks will automatically enter ALL of those transaction from the first entry up to TODAY. That means, if you create an entry for January of 2007, but it's May of 2010, this transaction will be entered multiple times until all of the transactions have been entered up until today's date. What this means for anyone who's behind on their bookkeeping is that they only need to memorize one of each transaction and amount, then close and open QuickBooks to become instantly up to date.
Now go forth and take advantage of this fabulous tool. It will save you OODLES of time!
Let me know how it works for you.
QuickBooks PRO 2009
Article Source: http://EzineArticles.com/?expert=E._T._Barton
Monday, May 3, 2010
Bookkeeping 101 Explained
Bookkeeping 101 Explained
By Inessa Khaykin
Bookkeeping is normally performed by a bookkeeper; you shouldn't confuse bookkeeping with accounting - because they are two very different things! Most times, the accounting process itself is done by an accountant - accountants create reports from the records of the company itself. These records are usually prepared by a bookkeeper.
The most common methods of bookkeeping are single entry and double entry systems. These are seen by most people as 'real' methods of bookkeeping, but don't get overwhelmed - any process that involves keeping the records of a business's financial transactions classifies as bookkeeping.
Many small businesses tend to neglect their bookkeeping, feeling that it's more important to be out of the office generating new sales then sitting inside adding credits or debits to a sheet, or setting up what they see as an unnecessarily complex bookkeeping system.
Don't fall into this trap - don't think that bookkeeping is something you can ignore, because it's certainly not. Appreciating how bookkeeping really influence your business can make it more of a priority in the future.
Bookkeeping is simply the recording of your business's financial transactions. Bookkeepers basically keep track of all things dealing with the finances, including receipts. Recording the entries chronologically, they make sure that all cash transactions, sales, purchases, and more go into a journal, or ledger.
This information then goes to an accountant, who usually processes it, analyzes what's there, and produces a monthly financial statement that helps you get a better idea of where you stand.
Bookkeeping doesn't contribute directly to your profits - no one is going to pay you to do your books - there are numerous reasons why you should make bookkeeping a top priority.
- If you're going to be relying heavily on outside financing, you're going to need detailed, and accurate, records of all of your businesses finances. Lenders and investors alike need this information to measure how much risk they're putting into this, and if you don't have the information, you won't get the money.
- At the end of the tax year, when you go to figure out how much you owe the IRS in taxes, you need to look at an accurate assessment of how much you've made. This can't be done without proper bookkeeping. Moreover, you need to be able to show proper receipts to verify information regarding tax deductions. If you don't have this information and you get audited, you can suffer huge fines.
- Looking at your books is like going to the doctor for a checkup. With an up to date and accurate ledger, you can see who is past due on payments, who has outstanding credit, what is owed to you, and what you owe - right there. The financial reports that come from good bookkeeping help you keep in line with a budget, judge what you're grossing in income, and will help you determine how healthy your business is, financially speaking. Without it, you have no way to anticipate any cash flow issues.
Article Source: http://EzineArticles.com/?expert=Inessa_Khaykin
By Inessa Khaykin
Bookkeeping is normally performed by a bookkeeper; you shouldn't confuse bookkeeping with accounting - because they are two very different things! Most times, the accounting process itself is done by an accountant - accountants create reports from the records of the company itself. These records are usually prepared by a bookkeeper.
The most common methods of bookkeeping are single entry and double entry systems. These are seen by most people as 'real' methods of bookkeeping, but don't get overwhelmed - any process that involves keeping the records of a business's financial transactions classifies as bookkeeping.
Many small businesses tend to neglect their bookkeeping, feeling that it's more important to be out of the office generating new sales then sitting inside adding credits or debits to a sheet, or setting up what they see as an unnecessarily complex bookkeeping system.
Don't fall into this trap - don't think that bookkeeping is something you can ignore, because it's certainly not. Appreciating how bookkeeping really influence your business can make it more of a priority in the future.
Bookkeeping is simply the recording of your business's financial transactions. Bookkeepers basically keep track of all things dealing with the finances, including receipts. Recording the entries chronologically, they make sure that all cash transactions, sales, purchases, and more go into a journal, or ledger.
This information then goes to an accountant, who usually processes it, analyzes what's there, and produces a monthly financial statement that helps you get a better idea of where you stand.
Bookkeeping doesn't contribute directly to your profits - no one is going to pay you to do your books - there are numerous reasons why you should make bookkeeping a top priority.
- If you're going to be relying heavily on outside financing, you're going to need detailed, and accurate, records of all of your businesses finances. Lenders and investors alike need this information to measure how much risk they're putting into this, and if you don't have the information, you won't get the money.
- At the end of the tax year, when you go to figure out how much you owe the IRS in taxes, you need to look at an accurate assessment of how much you've made. This can't be done without proper bookkeeping. Moreover, you need to be able to show proper receipts to verify information regarding tax deductions. If you don't have this information and you get audited, you can suffer huge fines.
- Looking at your books is like going to the doctor for a checkup. With an up to date and accurate ledger, you can see who is past due on payments, who has outstanding credit, what is owed to you, and what you owe - right there. The financial reports that come from good bookkeeping help you keep in line with a budget, judge what you're grossing in income, and will help you determine how healthy your business is, financially speaking. Without it, you have no way to anticipate any cash flow issues.
Article Source: http://EzineArticles.com/?expert=Inessa_Khaykin
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