InvestOhio: New Resource for Ohio Small Business & Investors

Our firm recently received a  Letter from Representative Mike Duffey, delineating the importance of InvestOhio encouraging small and medium-sized Ohio business to grow the Ohio workforce.  Our Ohio Elder Law Firm believes the information noted in his letter and below will be beneficial to many of our clients and friends.

What is InvestOhio?

InvestOhio is a new tool for helping Ohio small businesses gain the capital they need to succeed and create jobs. Through the program, individuals who invest up to $10 million in eligible small businesses
may receive a 10 percent income tax credit if the investment is held for two years.

Why is InvestOhio needed?

• The recent economic downturn has left many Ohio small businesses in need of capital to sustain and grow their business. Similarly, large amounts of private investments are sitting on the sideline waiting for the economic climate to improve. InvestOhio encourages investors to put this money back into the economy to spur job creation. (more…)

Free Medicare Preventive Care Has Kicked In

One of the benefits of the health reform law took effect January 1, 2011: free preventive services for Medicare recipients. Under the law, people with regular Medicare will no longer have to pay a co-pay, coinsurance or deductible to receive preventive services that are highly recommended by the U.S. Preventive Services Task Force — services that include screenings for breast cancer, colon cancer, diabetes and heart disease, as well as smoking cessation counseling. Private Medicare plans (also known as Medicare Advantage plans) may still charge for these services, but many do not.

Also under the health reform law, Medicare Part B beneficiaries will now receive an annual wellness visit free of charge. During this yearly visit, your doctor or other health practitioner recognized by Medicare (such as a nurse practitioner) will update your medical history and current prescriptions; measure your height, weight, blood pressure and body mass index; create a screening schedule for the next 5 to 10 years and screen for cognitive issues. And Medicare now pays in full, without patient co-pays or deductibles, for the initial “Welcome to Medicare” that Medicare has offered since 2005 to beneficiaries within 12 months of their becoming covered under Medicare Part B. (For a CommonHealth article on what to expect from a wellness visit and how to get the most out of yours, click here.)

“Preventing diseases that can be prevented, and detecting others at earlier, more treatable stages, are among the keystones for transforming Medicare,” said Jonathan Blum, deputy administrator and director of the Center for Medicare at the Centers for Medicare and Medicaid Services.

“By eliminating the beneficiary’s out-of-pocket costs for most preventive services, we are removing a barrier to access and paving the way for improved health for seniors and people with disabilities who rely on Medicare for their health coverage.”

For a detailed list from the Medicare Rights Center of preventive services that will no longer require out-of-pocket payments, click here. For more on Medicare’s preventive services from the Medicare Rights Center, click here, and from the Center for Medicare Advocacy, click here.