News & Articles

14 Tax-Favored Fringe Benefits: What's the Right Mix for Your Business?

Posted on Wed, Sep 25, 2019

Job applicants look at more than just wages when evaluating potential employers. They consider the whole compensation package, including fringe benefits and perks. These add-ons enable employers to cast a wider net in the job market, helping them attract and retain top-quality workers. 

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Tags: Health Insurance, fringe benefit, Retirement Plan, Tax Cuts and Jobs Act (TCJA)

New ACA Legal Battle Could Affect Individual and Employer Health Coverage

Posted on Tue, Jul 10, 2018

The Affordable Care Act (ACA) has been controversial since it was enacted in 2010. The latest legal attack calls into question whether insurance carriers will still be required to issue coverage to individuals without regard to pre-existing medical conditions, and the degree of pricing flexibility that carriers will have based on the demographics of a covered group.

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Tags: Health Insurance, Changes in ACA, ACA, Tax Cuts and Jobs Act (TCJA)

How to Make the Most of Medical Expense Deductions

Posted on Mon, Oct 10, 2016

With the ever-increasing cost of health insurance and medical care, you should be vigilant in finding ways to claim tax breaks related to health care. Unfortunately, that's now harder than before because a change included in the Affordable Care Act (ACA) increased the income-based threshold for deducting itemized medical expenses.

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Tags: Health Flexible Savings Account, Health Insurance, FSA, HSA

3 Taxes People Love to Hate

Posted on Wed, Jul 27, 2016

Few people enjoy giving money to the IRS, but some types of taxes are viewed more unfavorably than others. Here are three worthy candidates vying for the title of most-hated tax.

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Tags: Affordable Care Act (ACA), Penalty, Health Insurance, Medicare, Taxes

Avoiding the 10% Penalty on Early IRA Withdrawals

Posted on Wed, Apr 06, 2016

For one reason or another, you may need to take some money out of an IRA before reaching retirement. You can withdraw money from an IRA at any time and for any reason, but it's important to keep in mind that most IRA withdrawals are at least partially taxable. In other words, you'll owe regular income tax on the amount. In addition, the taxable portion of a withdrawal taken before age 59 1/2, which is called an "early withdrawal," will be hit with a 10% penalty — unless you qualify for an exception.

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Tags: Traditional IRA, Health Insurance, Higher Education, SEP, IRA

Fit Finances for 2016

Posted on Mon, Dec 28, 2015

Have you achieved all of the goals you set for 2015? If some of your 2015 New Year's resolutions remain unresolved, don't get discouraged. There's no time like the present to cross a few items off your to-do list after the holidays. Doing so will ward off the post-holiday blues and set a positive tone for achieving the rest of your personal financial goals in 2016. Here are a few simple ideas.

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Tags: Health Insurance, Estate Planning, Life Insurance, college savings plan, Mortgage

Get Ready for Upcoming Affordable Care Act Compliance Deadlines

Posted on Fri, Oct 31, 2014

Just around the corner is an immediate deadline imposed by the Affordable Care Act (ACA), November 5, 2014. Fortunately that is not a difficult one to fulfill. The requirement is to get a "health plan identifier number," or HPID. Small plans -- those through which less than $5 million flows in a year, have a November 5, 2015 deadline. The requirement pertains to the government's desire to simplify HIPAA compliance monitoring. For that, you will need to consult with an accounting professional for details.

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Tags: Healthcare, EHTC Article, Affordable Care Act (ACA), Healthcare Law, Health Insurance, IRS, ACA, Newsletter, Articles, Affordable Care Act

Conflicting Court Rulings involving ACA Tax Subsidies in Some States

Posted on Mon, Jul 28, 2014

Two new court decisions reached opposite conclusions about whether individuals in states that do not operate their own health insurance exchanges are eligible for the premium assistance tax credit under the Affordable Care Act (ACA). Here is what you need to know about the controversy.

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Tags: Healthcare, EHTC Article, Healthcare Law, Health Insurance, Tax Credit, Court Opinion, ACA, Newsletter, Articles, Taxes

Check Out Self-Insurance as Health Coverage Deadline Looms

Posted on Mon, May 20, 2013

Self-insured health plans traditionally have been the realm of large employers. But a combination of the impact of the Patient Protection and Affordable Care Act and a greater appetite among insurance companies to offer stop-loss coverage to smaller employers may tip the scales in favor of self-insurance for some. Here's an overview of the situation.

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Tags: Healthcare, Health Insurance, business consulting, Articles, Echelbarger, EHTC, Self Insurance, Patient Protection and Affordable Care Act