Category: Affordable Care Act
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Update on 2017 tax reform
There is no easy button for tax reform. Republicans tax reform plans have changed since my last report on tax reform about six weeks ago. The Republican Senate agenda that was based on using the reconciliation process instead of needing 60 votes in the Senate, the republicans only need a simple majority of 51 votes for…
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Limitations on free tax preparation for 2016 returns
Each tax season I am pleased to prepare some individual tax preparation services for n fee except the filing fee. My online filing service provider’s fee is $20 per return so the tax filer must cover this cost. My offer is usually made to a small number of middle income neighbors as a way to promote my…
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New approach to break the health care reform impasse
Patient Freedom Act of 2017 A new bill to break the health care impasse is introduced today. WSJ reports “Sen. Collins, a Maine Republican, will answer that question publicly Monday when she introduces a bill with Louisiana Republican Sen. Bill Cassidy aimed at breaking the party’s logjam over the repeal of the Affordable Care Act…
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Health care reform in a nutshell
It doesn’t matter whether we call it the Affordable Care Act or Obamacare, or Trumpcare, or the Republican Plan – the difficult issues and available solutions are the same. We can’t afford the solutions we want and we don’t have the political will to implement the solutions that we can afford. I’ve reported on the practical issues…
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What does “repeal Obamacare” really mean?
Republicans have shouted about repealing Obamacare for the past six years. The war chants grew even louder since the November election. Now that the Republican Congressional leadership actually has the ability to defund and repeal the health care law they despise, almost all of the discussion in the news this month is about the features of…
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Two important small business tax changes for 2017
The good news this year is that the majority small businesses are affected by only two tax changes for the year ahead. Both changes are effective January 1. The first change will increase stress and the risk of automatic tax penalties. The second offers big potential tax savings. It makes sense for small business owners…
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Building a better small business health plan
This 7 1/2 minute, eight slide narrated Powerpoint video presentation introduces the background and steps required to allow a small business to break free from the grip of current health care market turmoil and actually improve employee health benefits immediately.
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Trump’s evolving priorities
What do we know so far about the incoming Trump administration’s priorities and evolving 100 day plan? Specifically, how will it affect my small business clients? What issues should advisers focus on with clients? Over the past five weeks we’ve heard these position statements that I am using personally to base my own economic forecasts.…
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2017 Consumer Driven Health Plan for Small Businesses
Employee Benefit Plan with Voluntary Salary Reduction, Premium Payment, Health Flexible Savings Account, Health Savings Account, and Dependent Care Assistance Plan Components The Freedom Benefits standard plans are redesigned for 2017. All plans can be customized. This is the table of contents for the 2017 consumer-driven health plan. Table of Contents ARTICLE I. Introduction 1.1 Establishment of…
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Third Party Claim Validation for Uninsured Health Plans
Services for small businesses are changing for 2017 Plans for 2017: I am offering set-up of Health Reimbursement Arrangements (HRA) for employer paid and Flexible Spending Account (FSA) for employee paid health plan setup for qualifying businesses and offering claim administration at approximately $100 per employee per year. Setup takes 24-48 hours after I have all…