PeopleKeep

SEPTEMBER 9, 2021

While group health insurance plans have traditionally been a popular choice for employer-sponsored health benefits, more and more employers are embracing reimbursement models, like health reimbursement arrangements (HRAs). New to signing up for individual health insurance?

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Health Insurance Insurance Taxes Employment 80

InterWest Insurance Services

DECEMBER 9, 2021

In addition, new rulemaking is likely to be introduced in 2022 that will affect health plans, including non-discrimination rules for wellness plans and new rules governing what must be included on insurance plan ID cards. The CAA created a number of new requirements that affect health insurance and coverage.

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PeopleKeep

OCTOBER 21, 2020

Under IRS rules , employers can reimburse employees for their health insurance in a tax-advantaged way. The most prominent vehicle for doing so is a health reimbursement arrangement (HRA).

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Health Insurance Insurance Taxes Employment 98

PeopleKeep

MAY 12, 2023

Health insurance is one of the most sought-after benefits an organization can offer. But few know why employers started providing health insurance in the first place. Employer-sponsored health insurance became widely adopted during World War II.

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Health Insurance Insurance Employment Healthcare 52

InterWest Insurance Services

JANUARY 17, 2023

If you decide to keep them on the company’s plan, how you handle their insurance depends on your size: Fewer than 20 employees — Employees who work for these firms will need to enroll in Medicare when they turn 65. Medicare will be the primary payer of health insurance claims for these workers under the law.

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Health Insurance Insurance Health Savings Account Hospitality 86

PeopleKeep

AUGUST 19, 2020

Individual health insurance is more affordable than group health insurance. Also, under the Affordable Care Act, individual health plans must cover all individuals regardless of health , which was not previously the case. Tax credits are also available for qualifying employees.

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HR Digest

SEPTEMBER 14, 2020

Under the Affordable Care Act, there is a subsidy available for small businesses that provide health insurance to their employees. To qualify, the startup must have fewer than 25 full-time equivalent employees, pay average annual wages below $50,000 and contribute 50% or more toward employees’ self-only health insurance premiums.

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PeopleKeep

DECEMBER 7, 2020

Health insurance increases are almost as reliable as death and taxes. In 2020, group health insurance premium costs increased 4% to $21,342 for an average family plan. Following is a concise summary of eight key trends driving the rising costs of health insurance in America today.

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PeopleKeep

JULY 12, 2021

As a small business owner, it’s likely that you, your family, and your employees are covered by individual health insurance policies. You like your network of doctors, the policy is affordable, and you may even be receiving premium tax credits. New to offering health benefits?

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Higginbotham

AUGUST 10, 2023

An employee wellness program is a driver of success and sustainability for any organization in any industry, and the core of an effective strategy for employee wellness is comprehensive health insurance coverage. However, increasing inflation amidst World War II brought a wage freeze in 1942.

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Joe Markland

OCTOBER 11, 2020

Over the past 6 years I have published several articles on the need to personalize health insurance (and get the employer out of the way) by making an individual insurance policy tax deductible. will reap benefits through lower costs, more options, and ultimately better health care. Employees throughout the U.S.

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Higginbotham

JANUARY 27, 2023

Although some small business owners may feel overwhelmed by the prospect of offering health insurance and other benefits, the many advantages can make the effort worthwhile. ALEs are subject to certain health care reporting requirements. However, many small employers decide to offer health insurance anyway.

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Money Talk

AUGUST 3, 2022

This phrase was designed to encourage investors to buy tax-free municipal bonds that provide a higher after-tax return than higher-yielding taxable bonds. In a more general way, the advertisement was also promoting the concept of tax-efficient investing. no tax for New Jersey residents on a New Jersey-issued bond).

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Taxes 401(k) Flexible Spending Account Deductions 188

Higginbotham

JANUARY 4, 2022

Ancillary health insurance is a secondary type of coverage used to supplement your traditional health insurance. The term “ancillary” means “providing additional help or support,” and that’s just what ancillary health insurance does. Examples of Ancillary Health Insurance. Vision Insurance.

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PeopleKeep

JANUARY 14, 2022

For many small and medium sized businesses (SMBs), offering a traditional group health insurance plan is an expense they simply can’t afford. Luckily, there are other, more affordable and flexible options that make offering health insurance possible. Skip ahead below: What is a stipend for health insurance?

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PeopleKeep

OCTOBER 22, 2021

While this option is easy to administer and saves time, the value of these dollars is lessened because a health insurance stipend is considered part of employees’ income—not a separate benefit. This means that stipends have payroll and income tax implications that tax-free health benefits don’t have.

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Health Insurance Insurance Taxes Healthcare 52

HR Lineup

APRIL 23, 2024

In business operations, particularly for employers, navigating the intricacies of tax compliance is paramount. Understanding the various tax forms required by the Internal Revenue Service (IRS) is essential to ensure accuracy and avoid penalties. Employees complete this form to indicate their federal income tax withholding preferences.

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Fringe Benefit Analysts

FEBRUARY 25, 2021

Why is Health Insurance Important? . Medical insurance is critical to help individuals pay for these, and many other, health-related expenses. Medical insurance is critical to help individuals pay for these, and many other, health-related expenses. What is Group Health Insurance?

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Patriot Software

JUNE 21, 2021

Providing health insurance benefits to your employees can leave you with a lot of questions. But, are payroll deductions for health insurance pre-tax? If you have your employees contribute to their premiums, you have to know how to deduct the cost from their gross pay.

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Global People Strategist

JUNE 8, 2022

Public health. Private health insurance. Thai Public Health. Expats working in Thailand have to sign up for the public health program part of the Universal Coverage Scheme. It is funded through taxes and monthly deductions from employees’ salaries. Private Health Insurance in Thailand.

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PeopleKeep

JULY 19, 2023

The Affordable Care Act (ACA) requires every state to have a health insurance exchange or marketplace. These exchanges allow individuals and small businesses to purchase their own health insurance coverage or get financial assistance through Medicaid or premium tax credits.

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PeopleKeep

JANUARY 11, 2021

With the new year comes yet another year of tax filing. That means researching updated tax rules, deadlines, and write-offs. When it comes to expenses eligible for tax write-offs, employers may wonder whether health insurance is included.

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Health Insurance Taxes Insurance Employment 54

Corporate Synergies

AUGUST 31, 2020

The post Our Take: What Does the NJ Health Insurance Tax Mean for Employers? appeared first on Corporate Synergies.

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Health Insurance Taxes Insurance Employment 80

PeopleKeep

FEBRUARY 12, 2020

A common question among employees is does my employer have to provide health insurance? The health care reform law, called the Affordable Care Act (ACA) , requires certain employers to purchase health insurance or else pay a tax penalty. The answer? Not necessarily.

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Health Insurance Insurance Employment Taxes 89

Money Talk

APRIL 14, 2022

The 2021 income tax season will soon be in the history books. With income tax calculations still fresh in our heads, this is a great time to do some tax planning for 2022. Here are 12 tax topics to consider: Itemized Deductions- Only about 10% of taxpayers can itemize since the Tax Cuts and Jobs Act went into effect in 2018.

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PeopleKeep

AUGUST 24, 2022

When you’re sick, injured, or have unexpectedly high medical costs, health insurance acts as an important safety net that keeps you from paying more out-of-pocket than you would without it. The older you get, the more risk you pose to health insurance companies, so your insurance premiums will likely rise as you get older.

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PeopleKeep

NOVEMBER 15, 2021

Choosing an S-corporation to form your business comes with several impressive tax advantages. You don’t pay corporate income tax, and your social security and Medicare taxes are lower. In fact, profits are allocated to shareholders and taxed at that point.

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Health Insurance Deductions Deductible Insurance 52

PeopleKeep

DECEMBER 11, 2023

Starting in 2024, Indiana employers will have a new tax credit available if they decide to offer their employees a health reimbursement arrangement (HRA) instead of group health insurance. This will allow small businesses and nonprofits to offer affordable and personalized health benefits in The Hoosier State.

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Global People Strategist

JULY 13, 2022

As the cost of healthcare continues to rise, private employers are searching for new and innovative ways to provide health insurance for their employees. While many employers are still offering traditional health insurance plans, there is a growing trend towards alternatives such as self-funded health plans and wellness programs.

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Health Insurance Insurance Health Savings Account Deductions 52

PeopleKeep

FEBRUARY 25, 2022

Employers know that shifting a more significant portion of the health insurance costs to their employees can make providing group health insurance more affordable; however, it can also lower their workforce’s morale, making it harder to attract and retain top talent. And with deductibles increasing over 68.4%

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Health Insurance Insurance Healthcare Deductions 52

Fringe Benefit Analysts

JUNE 22, 2021

Providing employer-sponsored, group health insurance is one of the top benefits a small business can provide for employees. Fringe Benefit Analysts is committed to helping small business owners navigate the health insurance benefits landscape and decipher just how much it costs for small business health insurance.

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Health Insurance Insurance Healthcare Deductions 52

Money Talk

OCTOBER 11, 2023

Tax Write-Off for Self-Employment Tax - On line 15 of Schedule 2 (for a 1040 form), self-employed workers can write off the deductible portion of their self-employment tax (calculated on Schedule SE), which will lower adjusted gross income (AGI), a trigger for many other taxes.

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PeopleKeep

FEBRUARY 12, 2020

A common question among employees is does my employer have to provide health insurance? The health care reform law, called the Affordable Care Act (ACA) , requires certain employers to purchase health insurance or else pay a tax penalty. The answer? Not necessarily.

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Health Insurance Insurance Employment Taxes 75

PeopleKeep

MARCH 25, 2024

Many employers are moving away from traditional group health insurance by offering more affordable and flexible health benefits like health reimbursement arrangements (HRA) or health stipends. At the same time, many employees are taking advantage of health insurance subsidies, such as premium tax credits.

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Taxes Health Insurance Employment Insurance 52

Higginbotham

OCTOBER 5, 2023

In today’s increasingly competitive job market, offering a basic health insurance package is no longer enough to attract and retain top talent. The Evolution of Employee Benefits Employee benefits have come a long way since the days of basic health insurance coverage with a savings retirement plan thrown in.

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Health Insurance Employee Benefits Insurance 401(k) 52

PeopleKeep

MARCH 17, 2022

Many employers are transitioning away from traditional group health insurance by offering more flexible health benefits such as a health reimbursement arrangement (HRA) or health stipend. At the same time, many employees are taking advantage of health insurance subsidies, such as premium tax credits.

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PeopleKeep

JANUARY 24, 2022

Due to rising health insurance costs , employers must search for ways to reduce their—as well as their employees’—costs, as much as possible. However, there are guidelines for both that employers must follow in order to reimburse their employees compliantly.

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