NEWS FLASH: Affordable Care Act Deadlines Extended

ACA Deadline Extended Jan16The Internal Revenue Service (IRS) has extended the reporting deadlines for health care information required under the Affordable Care Act (ACA). Insurance companies, self-insuring employers, large companies and other coverage providers were originally required to provide enrollment and coverage information to the IRS this month. But the IRS, while still encouraging the filing of information returns immediately, has moved the deadline for several categories. Continue reading

October 1st Deadline for Employee Healthcare Notices

red flagAlmost every business in the United States is facing an October 1, 2013 deadline for notifying all employees about the new public health insurance exchanges. The notification must go to all full-time and part-time employees, regardless of their benefits status. The notification is required even for those businesses that are not required to provide healthcare coverage!

This requirement of notification is part of the Patient Protection and Affordable Care Act (commonly known as “Obamacare”) and applies to all businesses regulated by the Fair Labor Standards Act. This includes companies with at least one employee and with annual revenues of $500,000 or more. Continue reading

Medical Costs: Can I Really Get a Tax Break for That?

Medical Costs Can you deduct the cost of a face lift? How about “Lasik” eye surgery? Some of the procedures that pass muster with  the IRS may surprise you. Take a look at a chart with eligible and not eligible medical expenses. There are some unusual qualified expenses that might allow you to get a tax break. Read the full article here.


Guidance on Determining Who is a Full-time Employee & When Health Insurance Must Be Offered

The Treasury and Health and Human Services recently released two new notices concerning the business mandate of the Patient Protection and Affordable Care Act (PPACA).

The first notice, 2012-59, provides information regarding the 90-day waiting period allowed by PPACA.   Continue reading

The New Healthcare Law Includes Many Tax Changes. Here’s What You Need to Know.

The Supreme Court ruling upholding the Protection and Affordable Care Act (ACA) means that almost every provision in the act will move forward. While a lot of attention has been focused on the individual mandate that will take effect in 2014, there are individual tax provisions that will take effect on “high income taxpayers” beginning in 2013. Continue reading