The U.S. Department of Health and Human Services (HHS) has released the federal poverty level (FPL) guidelines for 2017. Individuals whose household income falls between 100 and 400 percent of the FPL may be eligible for a premium tax subsidy that can lower their health insurance cost. What Is the Federal Poverty Level? Also known as “poverty guidelines,” the FPL is used to measure a household’s poverty status. Adjusted each year for inflation, the FPL can help determine if a family qualifies for certain government benefits, such as Medicaid, food stamps, or funds for education.
The Affordable Care Act (ACA) has added some additional paperwork to the tax-filing process. Employers offering small business health insurance are required to provide forms to both employees and the Internal Revenue Service (IRS). Here is an overview of forms required from employers, as well as which forms employees can expect to receive.
Many people have questions about health savings accounts (HSAs) when they’re offered alongside their individual health insurance. The Internal Revenue Service (IRS) has strict regulations in place regarding who is eligible to use the funds, in addition to what products and services can be claimed. If you still have some questions (like many people with HSAs), this information should help clear some things up for you.
It seems as though you can’t turn on the news without listening to chatter about rising health-care costs. It’s true: The average health insurance cost has increased steadily for the past 17 years, but it turns out the news isn’t bleak for everyone. Those who qualify for subsidies are far less likely to experience drastic price hikes—they may even see a decrease in premiums.
With the increase in individual health insurance premiums and out-of-pocket costs, many are experiencing confusion regarding their policies. You might hear (and read) the same terms over and over again, but do you really know what they mean? In order to properly choose health coverage, employees must understand the terminology.
Navigating the waters of group health insurance can be frustrating for small business owners. Not only are premiums expensive, but they are also constantly increasing, and the regulations are difficult for many small businesses to keep up with. If you are struggling with group health insurance, we have good news: There’s another option.
Millions of Americans have already made their individual health insurance selections for 2017 through the Affordable Care Act (ACA). But some are still wavering between plans or are suddenly realizing their plan doesn’t include their preferred doctors and prescriptions. If you haven’t made your final decisions for the year, don’t worry, there is still time—but the deadline is fast approaching.
Health insurance costs have increased sharply in 2017. The effects of the increases have been widespread, reaching both group health policies and affecting costs on the individual market. If you didn’t encounter rate hikes yourself, you probably know someone who did.
Since the passage of the Small Business Healthcare Relief Act (SBHRA) as part of the 21st Century Cures Act, people enrolled in health care sharing ministries have wondered whether the new regulations affect them. Here is an overview of health care sharing ministries and how they fit into the new Small Business Health Reimbursement Arrangement (HRA).
Each year, the Internal Revenue Service (IRS) evaluates expenses eligible for reimbursement through tax-advantaged group plans, such as Small Business Health Reimbursement Arrangements (HRAs). In some cases, the reimbursement amount varies from year to year. Here are the 2017 standard mileage rates for business, medical, and moving expenses.
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.