ACA: Employer Mandate Tree
The employer mandate tree easily breaks down what we see today and the changes taking place next year. Employee Benefit Advisors provides employee benefits, tax-advantaged healthcare, compliance guidance for ACA and Health & Welfare DOL Audits, and PEO Advisory & Consulting Services.
Your HSA Contributions May Trigger Cadillac Tax
The Cadillac Tax is coming in 2018. – All “premiums” over the designated amounts, currently set at $10,200 for single coverage and $27,500 for family coverage, will be taxed at 40%. BUT, the IRS and DOL are currently counting employee contributions into their own HSA’s as “premiums”. So, if you are being a responsible healthcare […]
“Embedded” Out-of-Pocket Maximum Rule Clarified
HHS recently finalized regulations to verify the annual out-of-pocket maximums for an individual in 2016 are limited to the annual limit for self-only coverage. This applies to all individuals, including each individual under family coverage. The regulation provides that the embedded out-of-pocket limit applies to all plans. This embedded rule means that plans (including self-funded plans) […]
Obamaco$t – OUCH!
The Congressional Budget Office reports Obamacare will cost $2 Trillion, $1.35 Trillion for everyone enrolled in Obamacare ($50,000 per person), premiums plus subsidies, and $643 Billion to pay for the expansion of Medicaid and CHIP (Children’s Health Insurance Program). Costs will be paid by the federal government (taxpayers) and $643 Billion in taxes, penalties and […]
Tower of Babel teaches valuable lesson
Gen 11:1-6 Now the whole world had one language…as one people speaking the same language…then nothing they plan to do will be impossible for them. PPACA requires group health plans to provide both a Summary of Benefits and Coverage (SBC), and a Glossary of Health Coverage and Medical Terms in a culturally and linguistically appropriate […]
Medical Detectives…Need help with that difficult diagnoses?
Is your doctor having trouble diagnosing your illness? Look into CrowdMed, www.crowdmed.com. – I first learned about this on the Fox News Medical Report one Sunday morning. Their doctors gave it very positive reviews. CrowdMed connects you with thousands of medical experts who have collaborated to solve hundreds of medical mysteries that had stumped individual […]
Do unto others…Not unto me
Harvard’s professors are getting a taste of their medicine, and it’s not going down to well. Reports are that members of the faculty are a little “peeved” over health plan changes that will require them to share more of their health care costs. The enrollment guide states that it “must respond to the national trend of […]
IRS Guidelines – Indexed Figures for 2015
FICA Social Security 6.2% to $118,500 Medicare unlimited 1.45% to Unlimited High Deductible Health Plans Minimum Annual Deductible (Individual/Family) $1,300 / $2,600 Maximum Out-of-Pocket Limit (Individual/Family) $6,450 / $12,900 Health Savings Accounts Individual / Family $3,350 / $6,650 Catch-up Contribution $1,000 Flexible Spending Accounts Health Care Flexible Spending Account Maximums $2,550 Dependent Care Spending Account […]
Useful Website: healthgrades
The website, www.healthgrades.com, allows individuals to search for a doctor based on name, specialty, condition, procedure, and/or geographic location. Users can filter results by many options including Insurance Provider. While the home page does not have a field to input insurance, once you enter a search (see screen shot below), on the far right you […]
2015 HSA Contribution Limits
A health savings account (HSA) is a tax-advantaged savings account available to those who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), funds roll over and accumulate year to year if not spent. HSAs are owned […]