Health Savings Account Limits for 2018

With Health Savings Accounts (HSAs), individuals and businesses buy less expensive health insurance policies with high deductibles. Contributions to the accounts are made on a pre-tax basis. The money can accumulate year after year tax free, and be withdrawn tax free to pay for a variety of medical expenses such as doctor visits, prescriptions, chiropractic care and premiums for long-term-care Continue Reading

More Adult Children Opting to Live with Parents

What's the most common living arrangement for young adults today? For the first time in 130 years, more young people ages 18 to 34 opt to live with their parents, rather than move out on their own or with a spouse or friend, according to a recent study by the not-for-profit Pew Research Center. Here's more on this trend, including possible reasons, reactions from parents and their live-in adult Continue Reading

Paying Employees to Buy Health Coverage? Know the Ground Rules

Does your company's health insurance plan include health reimbursement arrangements (HRAs) or flexible spending accounts (FSAs)? If so, you should know these plan components are both subject to the Affordable Care Act (ACA) and its "market reform" provisions. The Department of Labor and other principal agencies have issued another round of guidance1 to answer some of the frequently asked questions Continue Reading

New for 2014: Penalty for Not Complying with the Individual Mandate

Starting this year, a provision in the Affordable Care Act generally imposes a penalty on individuals who fail to carry so-called minimum essential health insurance coverage. The requirement to carry such coverage is often called the individual mandate, and the penalty is the cost for failure to comply with the mandate. This article explains what you need to know about the Continue Reading

New Rules Ease Limits on Dental, Vision Plans

The Affordable Care Act (ACA) specifically sets aside certain benefits as "excepted" from the law's key requirements. These excepted benefits include the ban on annual benefit limits and waiting periods exceeding 90 days, rules governing distribution of Summary of Benefit and Coverage statements and cost-sharing limits. Now, new rules clarify and refine the definition of those benefits, as well as Continue Reading

Get Ready for ACA Changes Coming Your Way January 1st

With a one-year delay until 2015 in the employer pay-or-play penalty, the availability of small business "SHOP" plans, and the higher standards for health insurance benefits in the individual market, all this might lead business owners and individuals to believe not much change will actually be felt in 2014. Be assured, this is a false notion. Here is a summary of what key provisions will take Continue Reading