• NASE Offers Step-By-Step Tips For Retirement Planning
• More Consumer Choice Needed To Lower Health Costs
• Small Biz Economic Survey Could Be Saved
• Rising Health Care Costs Change How Americans Use Health Care System

NASE Offers Step-By-Step Tips For Retirement Planning

Of micro-businesses not utilizing a retirement plan through their business, fewer than 60 percent are presently saving for their own retirement, according to a recent survey by the National Association for the Self-Employed (NASE). By contrast, more than 90 percent of those with a retirement plan through their business are presently saving. In recognition of National Save for Retirement Week – billed as the first congressionally sanctioned event of its kind – the NASE is offering these tips to help micro-business owners and employees assess their savings needs and set their retirement goals: Get Out The Magnifying Glass – Look closely at your personal finances to determine how much you can afford to commit to annual contributions to a retirement plan. This amount will be a main factor in the type of plan you choose. Ask A Professional For Targeted Help – Decide what type of advice you need from your professional planner, such as determining realistic financial goals; creating a budget and savings plan to reach those goals; evaluating financial areas dealing with specific types of investments, as well as personal insurance needs and taxes. Get In The Habit – Contribute to a retirement account every month, or at a minimum every quarter. A major cause for not meeting contribution commitments is caused by waiting until the end of the year and finding “other needs” for the money and putting off making a contribution. Assess Your Progress – Evaluate your “retirement position” at least annually if you are less than 45 years old and at least twice a year if you are 45 or older. Is your plan on track to produce the retirement lifestyle you want? How is the investment return on your retirement funds doing? Do you need to redistribute to other types of investments? For more tips, visit http://www.NASE.org. To learn more about retirement planning and implementation trends for micro-businesses, visit the NASE Research Web site (http://advocacy.NASE.org/research.asp) to view the 2007 survey, “Planning For Retirement: A Micro-Business Perspective.”

More Consumer Choice Needed To Lower Health Costs House lawmakers and industry experts gathered on Capitol Hill in one of the latest Congressional hearing to focus upon affordability of health insurance. While sorting through the barrage of legislative solutions to the nation’s burgeoning health care system, Members of the House Budget Committee paid particular attention to the role of the tax code in stimulating purchase of health coverage. “We are here to discuss how best to adjust the tax code so that all individuals can have access to health insurance that's affordable and that they can own and control for themselves,” remarked Rep. Paul Ryan (R-Wis.). The NASE supports removing disparities in the tax code which favor employer-based coverage over individual insurance. With the majority of self-employed business owners purchasing health insurance on the individual market, it is essential that small business receive the same tax benefits relating to health costs as large business. The NASE, as co-chair of the coalition supporting Equity for Our Nation’s Self-Employed, sent a letter to Committee Members encouraging them to look at H.R. 3660 and an example of legislation that would help lower health insurance costs and level the playing field for over 20 million self-employed Americans. Access health tips, resources and tools at the NASE’s Health Resource Center (http://health.NASE.org).   Small Biz Economic Survey Could Be Saved   A bill that would allow continued funding for an important business survey received support from lawmakers as part of the Commerce, Justice and Science Appropriations bill for 2008. The legislation includes funding for the Census Bureau’s Survey of Business Owners and Self Employed Persons. It received support from Senate lawmakers recently. The survey’s future had been in jeopardy after cost-cutting measures in the House of Representatives suggested eliminating it entirely. “This survey offers the only comprehensive, regularly collected information about our country’s businesses and provides the foundation for good policy decisions affecting America’s 27 million small business owners,” said Sen. John Kerry, Chairman of the Committee on Small Business and Entrepreneurship. “Small businesses drive our economy forward; but without accurate data, Washington risks leaving behind our veteran, minority and women entrepreneurs who represent the largest sectors of growth in our economy.” The Survey of Business Owners is part of the Economic Census, which provides information about home-based and family-owned businesses, as well as information about businesses owned by veterans, minorities and women. Rising Health Care Costs Change How Americans Use Health Care System Americans are increasing their own wellness to help lower their insurance premiums, according to recent research by the Employee Benefit Research Institute (EBRI). The 2007 Health Confidence Survey revealed that 81 percent of respondents made efforts to improve their health lifestyle choices. More than two-thirds said they consulted their physician more carefully about health costs. In addition, respondents opted to forgo care by neglecting to visit a physician for more serious conditions or symptoms (64 percent); delaying to see a doctor (50 percent); or skipping or not filling prescribed medications (28 percent). Full results are available at www.ebri.org. Learn More Learn more about the self-employment tax and speak out for micro-businesses by visiting the NASE’s Legislative Action Center at http://advocacy.NASE.org/.