Category: Affordable Care Act
-
Planning for repeal of Obamacare
PLAN NOW TO BENEFT FROM THE REPEAL OF THE AFFORDABLE CARE ACT Obamacare is still the law of the land as we end 2016. We all agree that health care law will change in 2017 but we do not know specifically how or when. Leading Republicans say that the repeal of the Affordable Care Act…
-
3 Tips to avoid the individual health insurance tax penalty
If you did not have health insurance for more than two months in 2016 then you may owe a tax penalty when you file this year’s tax return. You may also hear from the IRS about the penalty if your health insurance did not meet minimum federal requirements or if the required tax filings are…
-
A gap in small business advice following the election
For more than 30 years my practice has focused on financial planning for small business on taxes, benefits and health care. We can agree that these are issues in the spotlight right now after last week’s election. Over the past week I’ve read comments by other small business accountants that basically say that it is…
-
My potential windfall from the Trump health care reform plan
Trump’s health care reform plans turn out to offer potential career windfall for me. I haven’t considered it in any detail because the election came as such a surprise. In fact, I haven’t even seriously considered the details or impact of the proposed Repeal and Replace Obamacare Act. This blog post simply summarizes the first…
-
I’m grateful for a good personal physician relationship
I had a routine annual physical exam recently. My personal physician of more than 30 years spent more than an hour doing various tests and chatting while we caught up and discussed a wide range of topics related to my health. Due to my temporary absence from the local area and other life situation oddities,…
-
Rethinking our 2017 health care strategy
Yesterday my wife reminded me that it is time to sign up for our 2017 health insurance plan through her employer and this led to a discussion of the $6,000 deductible plus co-payments that we seem to incur every year in addition to our personal contribution of $8,000 for the “employer-paid” health insurance. And while we…
-
A sneak preview of single payer health care
Small businesses and self-employed people have struggled with increasing healthcare costs for as long as I’ve been in practice. We had double-digit cost increases in the late 1980s that triggered me to focus on this issue as a core of my work for the next three decades. But the important point is that we always found…
-
How to deal with shock increases in health insurance expense
Shocking increases in health insurance rates for 2017 have many of my small business clients reeling. The problem affects most people who pay for their own health coverage throughout the country. Some states and certain health plans are hit harder than others. The smallest rate increase I’ve seen directly in communications with clients is about…
-
Insurance companies on the exchange
a list of health insurance companies participating in an insurance exchange at the beginning of 2012