Employer Sponsored Health Plans
Healthcare reform and its tax implications
Key tax changes affecting individuals as a result of healthcare reform:
Limits on reimbursement of over-the-counter medications from HRAs, HSAs, FSAs and MSAs. Over-the-counter drugs not prescribed by a doctor are excluded from being reimbursed through a health reimbursement account (HRA) or health flexible savings accounts (FSAs) and from being reimbursed on a tax-free basis through […]
High deductible HSA plans becoming a more popular option to employers/employees
Cliff Peale of the Cincinnati Enquirer (11/1, Peale) writes this week about the open enrollment period that many businesses are facing between now and January 1, 2011. During this election period, employees select their health insurance coverage for the upcoming benefit year. Peale writes: “Disappearing fast is the health maintenance organization (HMO), the symbol of […]
Group plans to cost more in 2011
As reported by the American Medical News (10/11, Berry), “Workers are expected to pay more for health care coverage in 2011 than in 2010 as part of the steepening rise in premiums and employees’ share of the cost. Experts say that increase could keep workers from getting the care they need.” The “average cost of […]
Cobra Eligibilty Requirements
There are three elements to qualifying for the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) benefits. COBRA establishes specific criteria fplans, qualified beneficiaries, and qualifying events. These elements will determine the period of coverage.
Plans: Group health plans maintained by employers with 20 or more employees on more than 50% of their typical business days […]
Ohio Employers Paying for Employees Individual and Family Health Insurance Policies
Many employers in Ohio do not realize that they have the option to get individual health insurance and replace there expensive small group health policies. Whether your company is in Cincinnati, Columbus, Dayton or Cleveland this information will apply. Let’s look at the implications and understand why whether individual or a small group plan is your […]
Ohio Small Business Health Care Tax Credit
Most small business owners do not realize if or when they are eligible for tax credits on the small group health insurance plan they provide for their employees. Health reform legislation signed by President Obama includes a Small Business Health Care Tax Credit to help small businesses afford the cost of covering their workers. Below […]
Summary of New Health Reform Law
Health insurance and health care reform has changed dramatically through the passage of the Patient Protection and Affordable Care Act. Many are very confused as to how the new legislation will impact them specifically. Click below if you are interested in getting more information about how the bill may effect you.
summary-of-new-health-reform-law.pdf
Hopefully you found this information […]
Health Care Reform Timeline for Ohioans
The Patient Protection and Affordable Care Act, or Health Care Reform Bill, was signed by President Obama on March 23, 2010. Throughout the United State, this legislation has been met with great support and opposition. However, there is no debating the fact this bill will greatly change the way our current health care […]
One Major Step to Fixing our Health Insurance System
Our current health insurance and health care system in general is broken. There is not one end all be all solution to the problem, but there is one major change that I believe moves us in the right direction. That is taking the employer out of the health insurance equation. Did you know that companies […]
Should a Small Business Owner offer Health Insurance?
Depends? Much of what I am going to say may only apply to the state of Ohio, being that we work mainly with health insurance clients in the surrounding Cincinnati, Cleveland, and Columbus markets. Every situation is different, but the biggest mistake that a small business owner usually makes about their health insurance plan is […]
