Payroll Changes for COBRA
If you regularly employ at least 20 employees and offer health coverage, you are required to offer COBRA. This enables employees who leave the business to have coverage under the group plan for 18...
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More About the Small Business Health Care Tax Credit
If you pay at least half of the health care premiums for your staff and meet a slew of requirements, you can claim a federal tax credit based on your payments. The IRS recently released a draft of Form...
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Important Tax Reporting Rule Put on Hold
The Patient Protection and Affordable Care Act of 2010 (“Obamacare”) had required employers of any size to begin reporting health coverage for their employees for 2011 on W-2 forms due in 2012....
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The 5 W’s on W-2 Reporting for Health Coverage
Under the Patient Protection and Affordable Care Act of 2010, employers were supposed to begin reporting the value of health care coverage for employees on W-2 forms for 2011 (which are provided to...
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Health Costs Up? Not Necessarily
Health Savings Accounts (HSAs) may be an alternative way to obtain health coverage for you and your staff without experiencing the double-digit premium increases for traditional health coverage. As of...
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Keeping Your Health Insurance Plan
Remember the promise made during the health care debate that “if you like your health care coverage, you can keep it?” Now it seems that fewer than 20% of small businesses will be able to do so. The...
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What to Do about Health Insurance Now?
The Patient Protection Act of 2010 was supposed to be the panacea for high premium costs that pose a barrier for small businesses to provide coverage. To date, most small business owners I talk to say...
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Can You Be a Big and a Small Business at the Same Time?
Yes, if you check the definitions under the Affordable Care Act. Definitions matter because they govern what rules you must follow. The Affordable Care Act has conflicting definitions for different...
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Self-Employed Health Insurance for 2014
The tax rules for deducting premiums paid by self-employed individuals have not changed. They continue to be deductible from gross income without any dollar limit (other than the requirement that...
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COBRA and ACA
Long before the Affordable Care Act (ACA), the Consolidated Omnibus Budget Reconciliation Act (COBRA) required employers that employed 20 or more workers for at least half the year and that offered...
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