Pit & Quarry, August 2012

Law Continued from page 50 chronic disease factors in the 55 to 64 year old group Chain restaurants will now be required to disclose calories on menus and menu boards Enhanced transparency is mandated for medical providers and drug and device providers as well New penalties are being prescribed for falsification and fraud Support is being provided for increasing health care workers and education and training Revenue provisions Employers must now report the value of health insurance benefits on W 2 forms High dollar employer sponsored health benefits will be taxed on premiums higher than 8500 for individuals and higher than 23000 for families Flat fees are being imposed on pharmaceutical manufacturers 23 billion on medical device manufacturers 2 billion allocated and on health insurance providers 67 billion allocated Employer drug coverage will not be deductible for Medicare eligible employees The threshold for claiming a tax deduction for medical expense will be higher and elective cosmetic surgery will be taxed at a rate of 5 percent collected by the provider Some other developments to note executive compensation deductibility may be limited to a maximum of 500000 per year hospital insurance tax will be increased by 05 percent on taxpayers who make more than 200000 250000 joint non profit Blue Cross and Blue Shield must have medical loss rates of 85 percent for tax benefits and restrictions are being eased for small businesses to provide tax free benefits to employees PQ Legal editor Michael T Heenan is an attorney at Ogletree Deakins Nash Smoak Stewart one of the nations largest labor and safety law firms He can be reached at michael heenan@ odnss com August Ad Index Advertiser Page Phone Web Site Applied Industrial Technologies pg 3 877 279 2799 www applied com Assinck Ltd pg 46 888 801 4700 www assinck com Atlas Copco pg 19 800 732 6762 www atlascopco us Baldor Electric pg 13 479 646 4711 www baldor com Bridgestone Commercial Solutions pg 49 800 905 2367 www bridgestone firestone com C L Dews Sons Foundry Machinery pg 14 877 339 7339 www dewsfoundry com Columbia Steel Casting Co Back Cover 800 547 9471 www columbiasteel com Compass Wire Cloth pg 6 800 257 5241 www compasswire com Derrick Corp pg 24 716 683 9010 www derrickcorp com Flexco pg 21 23 800 323 3444 www flexco com FMC Technologies Inc pg 27 281 591 4000 www fmctechnologies com Hardox Corp SAAB Inside Front Cover 412 269 3231 www hardox com Kaman pg 7 25 41 800 526 2626 www kamandirect com Kleemann Wirtgen America pg 37 615 501 0602 www wirtgenamerica com Linatex Corp of America pg 31 608 221 2261 www weirminerals com Loadrite North America Ltd pg 22 800 560 9681 www loadritescales com Luff Industries Ltd pg 17 888 349 5833 www luffindustries com Lumsden Corp pg 40 717 394 6871 www lumsdencorp com Major Wire Industries Ltd pg 26 28 30 708 457 0121 www flexmat com Masaba Mining Equipment pg 5 605 670 9073 www masabainc com McLanahan Corp pg 47 814 695 9807 www mclanahan com Metso Minerals pg 16 412 269 5298 www metso com MINExpo pg 35 www minexpo com Motion Industries Inc pg 29 39 800 526 9328 www motionindustries com Nachi America Inc pg 32 317 530 1040 www nachiamerica com Polydeck Screen Corp pg 43 864 579 4594 www polydeckscreen com aggregate Power Transmission Solutions pg 15 866 743 7392 www emerson ept com Precision Pulley Idler Inside Back Cover 800 247 1228 www ppipella com Ramsey Co Inc pg 25 360 748 8918 www ramseycoinc com Ringspann pg 46 847 678 3581 www ringspanncorp com Scania USA Inc pg 45 www scaniausa com Stedman pg 32 800 262 5401 www stedman machine com Superior Industries pg 33 800 321 1558 www superior ind com Tandem Products Inc pg 44 800 533 0509 www tandemproducts com Tecweigh Tecnetics Ind Inc pg 32 800 536 4880 www tecweigh com Terex Minerals Processing Systems pg 10 11 989 288 3121 www terexmps com Trio Engineered Products Inc pg 20 626 851 3966 www trioproducts com United Rentals pg 9 www ur com rsc merger W S Tyler Canada pg 51 800 325 5993 www wstyler ca ADVERTISING INFORMATION Pit Quarry magazine is the leading information source for the aggregates industry and the marketshare leader among industry publications in terms of advertising sales If youd like to place advertising in Pit Quarry contact Publisher Rob Fulop at 800 669 1668 x3741 rfulop@ northcoastmedia net or Sales Manager Dino Vitanza at x3744 dvitanza@ northcoastmedia net Rob Fulop Dino Vitanza www pitandquarry com August 2012 PIT QUARRY 55