Posts Tagged ‘healthcare reform’

Do I Need To Have Health Care Coverage Before Jan. 1, 2014?

Friday, December 20th, 2013

Christmas is upon us, but you know what else is? The federal deadline to pay for exchange insurance that’s effective Jan. 1, 2014. Yes, that’s right. If you want health insurance through the federal government, you’ve got until Monday, Dec. 23, 2013, to apply and pay for it. Some insurance companies have delayed this deadline to Jan. 10, 2014 – but not all. So don’t wait – make sure you’re covered today.  (more…)

Peeling Back The Onion: Answering 3 Popular Obamacare Questions

Thursday, December 12th, 2013

As Obamacare becomes more and more of a reality to individuals, I’m being asked lots of questions. In the past few weeks, I received three questions that I’m finding are common concerns among the people I’ve talked with. I wanted to share these questions and provide some insight into each. So let me peel back the Obamacare “onion” and help you better understand how you may be impacted or what options you have available to you.  (more…)

Will There Be Changes To The Small Business Health Care Credit?

Friday, December 6th, 2013

Has your business enjoyed the small business health care credit for the last few years? Well, get ready because changes are coming in 2014.  (more…)

Health Insurance Options: SHOP, Drop, Roll, or Self-insure?

Thursday, November 14th, 2013

You may recall the popular saying, “Stop, Drop and Roll.” This is what we were taught in case a piece of our clothing or hair caught on fire. This same clever saying can (in a roundabout way) be applied to the list of options that businesses now have because of Obamacare. SHOP, Drop, Roll or Self-insure.  (more…)

Are You Prepared For The Obamacare Deadline On Insurance Marketplace Availability?

Tuesday, September 10th, 2013

The next Obamacare requirement deadline is right around the corner— are you ready? If you’re an employer, the Fair Labor Standards Act (FLSA) requires you to provide copies of one of the following insurance notices to all of your employees:

You must provide these insurance marketplace availability notices to your employees by Oct. 1, 2013.   (more…)

What Should You Be Prepared For Now With the ACA?

Tuesday, July 9th, 2013

By now you have probably heard about the one-year delay to certain aspects of the Affordable Care Act (ACA).  But beware!  The other elements of the law are going into effect soon and there is one that may have sneaked past you – a new filing and fee due July 31, 2013.  (more…)

With the Affordable Care Act “pay or play” provision delayed, I don’t have to do anything before 2015, right? Wrong!

Wednesday, July 3rd, 2013

If you had more time to prepare for something that could have a huge impact on your business, would you take advantage of that extra time? If you answered no, then you might want to think again.  (more…)

Why might the delay in the Affordable Care Act be better news than you think?

Wednesday, July 3rd, 2013

This week, President Obama and the Department of the Treasury announced that several key elements of the Affordable Care Act (ACA) will be delayed until 2015.  Specifically, the “pay or play” provision, or employer mandate to provide essential minimum coverage that is both affordable and minimum value. In addition, the employer informational reporting requirement has also been delayed until 2015. The administration cited stakeholder concerns and difficulties in implementing smoothly as reasons for the delay.  (more…)

How Much Will Health Care Reform Cost Your Business?

Wednesday, March 13th, 2013

If you’re like most business owners, health care reform has you running scared. You’re worried about how much it will cost you – and if your business can survive the burden.

You’ve heard about the employer mandate and the potential fines for not complying with it. But, that’s all in the abstract. No one has told you what it will cost your business – and what you can do to mitigate that cost. (more…)

What Does the Medicate Surtax Mean for Employers?

Friday, September 14th, 2012

Even though the Supreme Court’s decision was a few months ago at this point, healthcare reform is still getting a lot of coverage in the media.  Individuals and business owners are still trying to get their hands around what it will mean for them and what they’ll have to do to comply with the new law.

Most discussions about how healthcare reform will impact taxes have centered on the so called “Individual Mandate.”  But, health care reform will lead to other tax changes, too.  One such tax chance is the addition of a .9% Medicare tax surcharge. (more…)

Insurance Company Rebates

Wednesday, August 1st, 2012

Why They’re Coming and What To Do with Them

Not sure why you got a check in the mail from your insurance company? No, they’re not dropping your coverage. They’re crediting you back for what they overcharged your participants in 2011. Why? Because of health care reform.

Since the Supreme Court decided on the constitutionality of the Affordable Care Act (ACA), we told you about how it might mean additional taxes and regulations for your business. But, the ACA isn’t all bad news for small business owners. In fact, it could get you a check from your insurance company! (more…)

Do You Need to Report Health Care Benefits on W-2s?

Thursday, July 26th, 2012

“Obama Care is terrible!”  “Health care reform is great!”  Depending on your political stripes, you may have differing views on the Affordable Care Act.  Regardless of whether you love it or hate it, health care reform will impact your business in the years to come.  (more…)

How Could Ohio Medicaid Expansion Impact Your Business?

Wednesday, July 11th, 2012

Recently, we told you about some of the immediate tax consequences that you, as a business owner, can expect because of the Supreme Court’s decision on health care reform.  If you read How Does the Health Care Reform Decision Impact Your Business, you know that your healthcare costs and Medicare taxes are likely go up.  But, did you know that you might need to pay more for Medicaid, too? (more…)

How Does the Health Care Reform Decision Impact Your Business?

Friday, June 29th, 2012

By now you’ve probably seen the headlines that the Supreme Court announced its decision on health care reform and are wondering what it all means. What parts of the laws have been upheld? As a business owner, what will you need to do to comply with them?

In general, all of the tax provisions in the health care reform laws have been defended and will continue to be phased in over the next two years. Here’s what you need to know about what that means for you and your business. (more…)

Healthcare Reform and W-2 Reporting

Wednesday, June 6th, 2012

Healthcare Reform’s Impact on Employers

The Affordable Care Act (Healthcare Reform) put into law a number of provisions which impact employers. These provisions are being rolled out slowly over the next few years. One provision that’s new for 2012, regarding W-2 reporting of health insurance costs, applies only to large employers. As this provision is likely to get a lot of attention in 2012, it’s important to know, up front, if your business is required to comply. (more…)

Does New 1099 Reporting Affect You?

Wednesday, January 25th, 2012

If your business has paid at least $600 in professional services or other payments in 2011, you may be subject to a new 1099 reporting requirement as you begin to file your 2011 taxes. (more…)

Can My Organization Earn A Tax Credit For Paying Employee Health Insurance Premiums?

Wednesday, June 2nd, 2010

If your small business or not-for-profit pays at least half the cost of single coverage for employees, it could be eligible for a tax credit of up to 35 percent of the premiums it pays in 2010. (more…)