Category: Health Insurance
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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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How to help employees on Obamacare
How does a small business employer help an employee who receives subsidized Obamacare coverage but still struggles to afford the cost of out-of-pocket costs including the large deductibles? The easiest way is to set up an employer-sponsored supplemental insurance coverage. This option is increasingly popular because it is exempt from most types of tax regulations…
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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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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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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…