Health savings accounts (HSAs) are like personal savings accounts, but the money in them is used to pay for health care expenses. You — not your employer or insurance company — own and control the money in your HSA. The…
Do Your Adult Children Need Their Own Health Plan?
The Affordable Care Act (ACA) requires plans and issuers that offer dependent coverage to make the coverage available until a child reaches the age of 26. Both married and unmarried children qualify for this coverage. This rule applies to all…
HSA Contribution Limits and Minimum Deductibles Announced for 2017
The Internal Revenue Service (IRS) has announced the 2017 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code. Annual Contribution Limitation For calendar year 2017, the annual limitation on deductions for an individual with self-only coverage…
Why is my health insurance company asking for my Social Security Number?
The Affordable Care Act contains comprehensive health insurance reforms and includes tax provisions that affect individuals, families, businesses, insurers, tax-exempt organizations and government entities. To properly comply with these provisions it is now necessary for health insurance companies to record…
Supreme Court upholds PPACA subsidies 6-3
The much anticipated Supreme Court opinion in King vs Burwell has been announced. The Supreme Court upheld a key funding mechanism of the Patient Protection and Affordable Care Act (PPACA). This ruling will allow for premium subsidy tax credits to…