Category: Employee Benefits
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Section 18001 of the 21st Century Cures Act (Small Business HRAs)
EXCEPTION FROM GROUP HEALTH PLAN REQUIREMENTS FOR QUALIFIED SMALL EMPLOYER HEALTH REIMBURSEMENT ARRANGEMENTS Section 18001. (Annotated) (a) Amendments To The Internal Revenue Code Of 1986 And The Patient Protection And Affordable Care Act.— (1) IN GENERAL.—Section 9831 (excepted benefits) of the Internal Revenue Code of 1986 is amended by adding at the end the following…
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Reduce your income taxes in 2017
Tax shelters and strategies that go beyond basic tax planning An accountant shared a story with his peers of a client who called recently to say “This year I really want to do whatever we can to slash my tax bill and pay the minimum”. The accountant replied “What do you think we’ve been doing…
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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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2017 Health Reimbursement Arrangement for Small Businesses
The Freedom Benefits standard small business health plans are redesigned for 2017. All plans can be customized. This is the table of contents for the 2017 Health Reimbursement Arrangement small business health plan. Table of Contents ARTICLE I. PURPOSE AND ESTABLISHMENT 1.1 Purpose 1.2 Name 1.3 Plan Not Subject to Cafeteria Plan 1.4 Effective Date…
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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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2017 Small Business Health Plans
What do you expect of your small business health plan in 2017? Keep me out of tax trouble Allow more freedom of choice in selecting insurance Include a flexible spending account or HSA Cover dependent care Include independent, personal professional help All of the above If you answered “all of the above” then give me…
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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…
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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…
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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…
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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…