Tag Archives: Health Care Reform

Helping you see the forest through the trees: Affordable Healthcare Act

The individual mandate goes into effect on January 1, 2014.  What does this mean for you and your family?  Each individual must obtain and maintain insurance for themselves and any dependents or face paying a monthly penalty.

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Health Care Notices Due Out By October 1st

As we rapidly approach the implementation of Health Care Reform, it is important to note that a critical notice is due to employees by October 1st. Generally, the notice is required for all businesses that have gross revenues over $500,000. … Continue reading

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Employer Health Care Reporting and Mandate Payments Postponed Until 2015

The Administration announced that it will provide an additional year, until Jan. 1, 2015, before the Affordable Care Act’s (ACA’s) mandatory employer and insurer reporting requirements begin. Since this will make it impractical to determine which employers do not provide … Continue reading

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$2,500 health FSA limit starting in 2013

Health FSAs are benefit plans established by employers to reimburse employees for health care expenses, such as deductibles and co-payments. They are usually funded by employees through salary reduction agreements, although employers may contribute as well. Qualifying contributions to and … Continue reading

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Reminder for large employers: health insurance coverage information reporting due in Jan, 2013: health insurance coverage information reporting due in Jan 2013

January, 2013, will usher in a new paperwork requirement for large employers, generally those filing 250 or more Forms W-2. They’ll have to report the aggregate cost of employer-sponsored health insurance coverage provided to employees during 2012. Small employers are … Continue reading

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Get ready for tax increases in 2013 under Affordable Care Act

Even if Congress were to somehow solve its tax extender problems and kick all the Bush Tax cuts sunsets down the road for another year, the fact remains that under the Affordable Care Act (“Obamacare”), a number of important tax … Continue reading

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Withholdings for Post-2012 Additional Medicare Tax

The 2010 Patient Protection and Affordable Care Act includes a provision that, effective for tax years beginning after 2012, imposes an additional 0.9% Medicare tax on taxpayers receiving wages with respect to employment in excess of $200,000 ($250,000 for married couples … Continue reading

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Planning Ideas for New 3.8% Medicare Tax on Investment Income

As previously posted, there is a new 3.8% Medicare Surtax On Investment Income starting in 2013. Since the inception of the Medicare program, the Medicare tax has only been imposed on an employee’s wages and a self-employed individual’s earned income. … Continue reading

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Don’t Forget That The Tax Provisions of Obama Care Survived

There is a lot being written about the historic Supreme Court ruling regarding Obama Care. However, there has not been much said about the tax provisions of the Health Care Bill. Obviously, with this decision the tax provisions remain on … Continue reading

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Planning for the new 2013 Medicare taxes on higher-level earned and investment income

Let the count down begin to the “wholesale” expiration of the “Bush Tax Cuts” on December 31, 2012.  The majority of our writing the rest of this year will focus on this major event which will potentially change the tax landscape permanently. In … Continue reading

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