Month: February 2017
-
Small business Health Reimbursement Arrangement setup and support services
I offer three levels of service for self-directed small business Health Reimbursement Arrangements. This applies to either of the two types of HRAs available to small firms in 2017. BASIC SETUP: For a basic fee of $150: Design of an HRA plan through an in-person interview answer questions by the employer and accountant Recommend sample documents for…
-
First look at the Republican health plan
I just finished skimming the 106 page discussion draft of the Republican health plan. I probably understand less that 5% of it but am able to make a few observations. This draft is difficult to comprehend because of the many references to current sections of law. It will take awhile before a third party readable explanation…
-
HRA or HSA
comparison chart of Medical Savings Accounts, Health Savings Accounts and Health Reimburesement Accounts
-
Small Business HRA for 2017
Note added after first publication: The deadline for starting a HRA for retroactive tax treatment is March 30, 2017. HRAs can be started any time for expenses in the future. The most significant tax change affecting small businesses in 2017 is the liberalization of certain types of Health Reimbursement Arrangements (HRA) under the American Cures Act enacted in December 2016.…
-
Our plans to widen the US wealth gap
The United States is an amazingly rich nation. Our net worth of about one hundred trillion dollars works out to about $300,000 for every person across the country. Of course we know that wealth is not distributed evenly like this. Most of that wealth is held by a few people. Half of our nation’s wealth is controlled…
-
Health care planning for small businesses: 2017
This commentary is based on the February 10 draft outline of the Republican health plan that has not yet been presented to Congress. Of course we expect details to evolve. For fast immediate solutions during the transition period, see my post “Alternatives to Obamacare“. If you operate a small business then proposed changes to health care legislation…
-
America first is still a dumb idea
This cartoon by Chad Crowe ran in The Wall Street Journal this week with an editorial that said that business leaders know that “America first” is the wrong approach but that they are being politely silent for fear of upsetting the administration. It’s been an obvious economic truth to me, and I do not have any…
-
Sample tax return preparation fee schedule
An accountant asked for this sample tax return preparation fee schedule (dated 2012), so I am posting it here for others’ use. It is not my schedule and I do not know the source. I am not implying its usefulness in any situation. It appears to be the fee schedule of some unnamed professional firm. My…
-
Alternatives to Obamacare
What are consumers doing right now? I had a great telephone conversation with an experienced health insurance executive today. We talked about the hottest topic in the insurance industry: consumer alternatives to Obamacare. I mentioned that I’ve noticed increased consumer demand for products like Core Health Insurance that do not meet Obamacare standards. We discussed that:…