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”
The Affordable Care Act recognized the importance of wellness programs allowing employers to offer higher incentives for participation. Just be careful your incentives don’t violate the Americans with Disabilities Act (ADA).
Continue reading “Does Your Wellness Plan Need a Checkup?”
Understanding what certain insurance-related terms mean will help you become a better insurance consumer. Continue reading “The ABCs of Insurance”
The final cost of a medical insurance plan depends on more than just the premiums, even when you compare plans with similar benefits. Understanding the following definitions can help your employees understand the components that affect their medical coverage costs. Continue reading “Health Insurance by the Numbers”
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””