Model Election Notice Requirement for ALL EMPLOYERS

This new Mandatory Notice requires All Employers to give All Employees this notice. The Government wants to insure ALL EMPLOYEES are informed of all possible Health Insurance options but most importantly about the Health Exchange.(www.Coveredca.com for California’s Exchange) Completion of the Model Election is Mandatory for the Employer The Model Election Notice is required to … Continue reading “Model Election Notice Requirement for ALL EMPLOYERS”

IRS Announces 2014 HSA

The Internal Revenue Service (IRS) has announced the 2014 contribution limits, deductible minimums and out-of-pocket maximums for health savings accounts (HSAs) and high-deductible health plans (HDHPs).

Preventive Care Expanded Under Health Care Reform Act

Under the Health Care Reform, all non-grandfathered health plans are now required to provide preventative care services for each policy. The extent of the coverage has been modified since its introduction in 2010, but the final regulation was introduced in February of 2012. One of the main advantages of these changes is the fact that … Continue reading “Preventive Care Expanded Under Health Care Reform Act”

Individual Open Enrollment Period in the Health Care Reform Act

We have heard that Obama Care will provide us with an opportunity to get an insurance plan at any time we wish, but this is hardly the case. This new Health Care Bill comes with an initial open enrollment period during which people can select the health plan they want and after that there will … Continue reading “Individual Open Enrollment Period in the Health Care Reform Act”

Individual Mandate in Health Care Reform Act

The new Health Care Reform Act is looking to make a lot of changes to our health plans and the Individual Mandate is going to be the biggest one. Beginning with January 1st, 2014, all citizens will be required to have some sort of health insurance coverage unless they are exempted. Those that do not … Continue reading “Individual Mandate in Health Care Reform Act”

The Basics of Health Care Reform

The Health Care Reform Act is set to make a lot of changes to our health insurance policies. With new services, new rules and new plans, it is important for you to know how healthcare is going to change and how that will impact your life. Individual Mandate You will have to wait until 2014 … Continue reading “The Basics of Health Care Reform”

Tax Credit, Is it worth your time?

We have obtained a chart from the Congressional Research Service Report “Summary of Small Business Health Insurance Tax Credit under PPACA” dated April 5th 2010 that estimates the percentage of a tax credit you may receive through Obamacare. This chart summarizes worksheets 5 through 7 of the Instruction for Form 8941. There is a reduction … Continue reading “Tax Credit, Is it worth your time?”

Small Business Health Insurance Subsidy Read the Fine Print

Obamacare’s insurance and benefits will certainly bring a number of changes to the way small business owners handle their businesses and health insurance. With this in mind, it is important to do your due diligence and understand the limitations on any credits you can receive as a small business owner. This is especially important in … Continue reading “Small Business Health Insurance Subsidy Read the Fine Print”

Qualifying Arrangements Explained: Health Insurance 201

Qualifying Arrangement what could this possibly mean???? With the new health care reform legislation, there seems to be so much more information to learn. Just how does one sort through it? We’ve broken down each aspect of how a California small business owner qualifies for these tax credits, hopefully making you a little more familiar … Continue reading “Qualifying Arrangements Explained: Health Insurance 201”

Do My Health Insurance Premiums Qualify?

Obama’s health care plan offers many choices for the small business owner in California. You might be asking yourself just how to qualify your health insurance premiums with all the new information available. When considering this question, keep in mind that premiums you paid under a qualifying arrangement for individual employees will be counted when … Continue reading “Do My Health Insurance Premiums Qualify?”