7.5 Million Americans Paid a Penalty for Lacking Health Coverage

According to the Internal Revenue Service, almost 7.5 million Americans have had to pay a penalty for lacking health insurance in 2014 – and the tax season isn’t over.

As of mid-July, the IRS had processed approximately 135 million of the approximately 150 million individual tax returns it expects for tax year 2014. In 2014, the Affordable Care Act’s “individual responsibility” provisions went into effect, requiring most Americans to have health insurance or pay a penalty. Continue reading “7.5 Million Americans Paid a Penalty for Lacking Health Coverage”

How Voluntary Benefits Can Help Employers Mitigate the “Cadillac Tax”

The Affordable Care Act will impose a 40 percent non-deductible excise tax on so-called Cadillac health plans starting in 2018. You might be surprised to learn the Cadillac tax could affect your organization’s plan.
Section 9001 of the Patient Protection and Affordable Care Act (ACA) imposes a non-deductible excise tax on high-cost plans, Continue reading “How Voluntary Benefits Can Help Employers Mitigate the “Cadillac Tax””