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A Refresher on The ACA’s Tax Penalty on Those Without Health …

WEBNow that Affordable Care Act (ACA) repeal and replacement efforts appear to have collapsed, at least for the time being, it’s a good time for a refresher on the tax …

Actived: 6 days ago

URL: https://www.millerkaplan.com/knowledge-center/a-refresher-on-the-acas-tax-penalty-on-those-without-health-insurance/

Employers: Will your health insurance be “affordable” in 2022

WEBIn Revenue Procedure 2021-36, the IRS recently announced an important indexing adjustment related to the Affordable Care Act (ACA). Now is a good time to …

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The IRS clarifies what counts as qualified medical expenses

WEBThe answers to the IRS FAQs clarify the following points, starting with the ones we think are most interesting. As a general rule, the costs of over-the-counter (non …

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Key factors for employers in choosing an affordable health plan

WEBFor employers of all sizes, choosing an affordable yet fully featured health plan to sponsor for employees isn’t easy. And yet, for most organizations, it’s an …

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IRS to employers: Only medical expenses qualify for tax …

WEBParticipants can channel up to $3,200 in 2024 (up from $3,050 in 2023) of pretax income into these standalone, employer-owned accounts. The account then …

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Applicable large employers: Determine the “affordability” of your …

WEBEarlier this year, the IRS released Revenue Procedure 2023-29, in which it announced an important indexing adjustment to the Affordable Care Act (ACA).

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Remember to use up your flexible spending account money

WEBDo you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, …

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Cost containment: An important health care benefits objective for

WEBAs the Fed continues to do battle with inflation, and with fears of a recession not quite going away, companies have been keeping a close eye on the costs of their …

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Wellness Programs Are Subject to Many Federal Laws

WEBAt the beginning of the year, many people make resolutions about improving their physical fitness and overall well-being. Employers may seek to give these goals a boost in the …

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Seniors may be able to write off Medicare premiums on their tax …

WEBAre you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want. The premiums …

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Are COVID-19 testing and vaccination programs subject to ERISA

WEBAs of this writing, many public health experts are cautiously optimistic that cases, hospitalizations and deaths related to COVID-19 will continue to trend downward …

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Are pretax HSA contributions allowed without a cafeteria plan

WEBBy now, many employers have chosen to offer employees a high-deductible health plan (HDHP) along with a Health Savings Account (HSA). One interesting issue …

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How to "bunch" medical expenses into 2015

WEBMedical expenses that aren’t reimbursable by insurance or paid through a tax-advantaged account (such as a Health Savings Account or Flexible Spending Account) …

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The Importance of Proper Insurance Coverage

WEBWhen creating a comprehensive financial plan, many customers overlook the importance of insurance coverage. Insurance is fallback protection, a safety net …

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Agencies clarify plan coverage of COVID-19 tests

WEBOn February 4, the Department of Labor, IRS and Department of Health and Human Services issued additional frequently asked question (FAQ) guidance …

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Is your organization subject to OSHA’s new final rule on electronic

WEBMost employers are familiar with the U.S. Occupational Safety and Health Administration (OSHA). The government agency’s stated mission is “to ensure the safe …

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Determining eligibility for HIPAA administrative simplification

WEBJune 1, 2021. A health care plan with fewer than 50 participants that’s administered by a sponsoring employer may have fewer compliance hassles. That’s because it’s excluded …

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What businesses can expect from a DOL benefits plan audit

WEBAll but the smallest businesses today are generally expected to offer employees “big picture” benefits such as health insurance and a retirement plan.

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Small Businesses: Can’t Offer an FSA

WEBLike many small business owners, you may be unable to sponsor a major medical plan at this time. Perhaps you’ve thought about sponsoring a health Flexible Spending Account …

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