AFFORDABILITY PERCENTAGE
The IRS has lowered the affordability percentage from 9.86% to 9.78%. What does this mean for you? It could mean you, an applicable large employer, are obligated to pay a higher contribution to employee health-care. There are substantial penalties if an employer neglects to put these changes into place this upcoming year. You have three…
THE FIRST $50,000 OF LIFE INSURANCE
Many companies provide employer paid group-term life insurance policies when employees sign on to become full-time. What these employers may not realize is that there is a limit to the benefit amount they can provide without tax implications. The IRS states that the first $50,000 of employer paid life insurance is tax-free. However, any employer paid benefit over $50,000 is considered…
OPEN ENROLLMENT
October 15th marks the first day of Medicare Open Enrollment. Employees ages 65 and older have the option to switch from their employer provided comprehensive medical package to a government provided Medicare plan. Making this change has substantial potential cost savings. To put this into perspective, let’s look at an example of a 64 year…
HEALTHCARE MOVES FORWARD
A month ago, I wrote an article outlining President Trump’s 7 Point Healthcare Plan. This month, the GOP released their healthcare plan, in which we do not see much mention of Trump’s 7 points. The GOP is using a complex method called budget reconciliation to repeal and replace Obamacare. In short, this method affords a voting advantage to…
THE TRUMP 7-POINT HEALTHCARE PLAN IN 3 MINUTES
President Trump has promised the American people a “fabulous” healthcare system. Here is a quick examination of his 7-point healthcare plan: 1. Repeal and Replace Obamacare Originally, this is all we were hearing from Trump and Republican law makers, but new information was released after the GOP retreat in Philadelphia in January. Many Republicans are…
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