Posts Tagged ‘patient protection and affordable care act’

Health Care Reform – Women’s Preventive Care

Author: Kelley Filice Jensen

The Patient Protection and Affordable Care Act (PPACA), otherwise known as Health Care Reform, otherwise known as Obamacare, requires health plans to cover certain preventive care services for women without any cost sharing.   Thus, there are certain services provided by your doctor that you do not have to pay for if you have a health insurance plan, even if you have a copay’s, deductibles, or coinsurance.

When Does This Take Effect?

The additional preventive care guidelines for women take effect for plan years beginning on or after Aug. 1, 2012. If your plan operates on a calendar year basis, the new rules will be effective on Jan. 1, 2013.

Health Care Tax Credit Update, IRS Outreach to Small Businesses

The Health Reform Law, the Patient Protection and Affordable Care Act, signed by President Obama on March 23, 2010, gives a tax credit to certain small employers that provide health coverage to their employees, effective for tax years beginning in 2010. As the tax filing extension deadlines near, the IRS and the Department of Health and Human Services (HHS) announce a new round of outreach to Small Businesses and Practitioners about the small business health care tax credit.

Adult Children and HSA’s

Health Care Reform requires health plans to cover adult children to age 26. For plan years effective after 9/23/10, plans that cover dependent children must also provide coverage for adult children through age 26. However, this new rule does not allow out of pocket expenses for these adult children to be reimbursed out of HSAs. Check out more blogs about HSA’s.

This brings up a number of questions for HSAs. These talking points should help you when discussing the impact to HSAs on your family. Review the rules for determining dependent status.

Tax Dependent v. Non-Tax Dependent Child

Questions and Answers about the Health Care Tax Credit

The Health Reform Law, the Patient Protection and Affordable Care Act, signed by President Obama on March 23, 2010, gives a tax credit to certain small employers that provide health coverage to their employees, effective for tax years beginning in 2010. As a small business owner, what does this mean to you? Are there real tax savings from providing health insurance coverage to your employee? Maybe. Use the following as your guide when talking to your tax preparer:

How does this affect the normal business deduction for expenses paid for employee health insurance premiums?

Getting Your Adult Children Off Your Health Care Plan

One of the first changes of health care reform (The Patient Protection and Affordable Care Act) effects people under the age of 26. Previously, once a person turned 19 and was no longer a full time student, he could not be covered under his parents’ health care plan. What this meant is that people in their 20’s often went uninsured. Click here to learn who is a dependent for health insurance purposes. However, effective September 23, 2010 a person can remain on their parents’ health insurance plan until the age of 26. That is certainly better than being uninsured, but it is the most affordable option for parents? Probably not. Compare health insurance rates now. Here is the case for getting young adults their own health insurance plan:

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