Posts Tagged ‘healthcare’

Don’t Forget Your Health Coverage

Wednesday, January 27th, 2016

2016 individual mandate penaltiesIt’s getting expensive to not have health insurance and I’m pretty sure there are a lot of people out there who are not prepared to pay the  $700 flat fee for 2016 (or 2.5 percent of your income if greater). The break even is $28,000 income for single, so a great majority of people will likely pay the higher fee based on percentage of income.

If you don’t have insurance, or if you know somebody who has neglected to purchase insurance, time’s running out. The deadline to enroll on healthcare.gov is Jan. 31.

Just look at how much penalties have increased over the years!

2014, 2015 and 2016 Annual Payment Amounts

Year 2014 Year 2015 Year 2016
Percentage amount

1% of income
above filing threshold*

2% of income
above filing threshold*
2.5% of income
above filing threshold*

Flat dollar amount**

$95 per adult
$47.50 per child
$325 per adult
$162.50 per child

$695 per adult
$347.50 per child

Employees: Do you know how the new IRS Form 1095-C filing requirements impact you? Click here to find out.

By Joseph Popp, JD, LLM (Dublin office)

Want to learn more about your healthcare options? Check out these articles:

The Cost Of Reimbursing Employees For Health Care
Obamacare Is Here … Now What?
Know Your Health Insurance Options

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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…)

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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…)

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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…)

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What does the recently-passed Medicare rate bill mean to healthcare providers?

Wednesday, July 14th, 2010

 

It’s a mixed scenario for healthcare providers who accept Medicare patients. In late June, Congress passed a bill to once again extend Medicare payment rates to physicians, hospitals and other healthcare service providers until November 30, 2010. (more…)

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How will Flexible Spending Accounts Change Due to Healthcare Reform?

Monday, June 7th, 2010

As part of the recently passed healthcare reform legislation, flexible spending accounts face two changes that will require employers’ attention. (more…)

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