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Monthly Archives: December 2012

Have you opened up your H.S.A. Account yet?

Are you aware that the IRS allows you to fund your H.S.A. and reimburse your expenses all the way until tax filing deadline (next year)! [read more...]

December 26th, 2012 • 0 Comments

Getting Creative with SPD Distribution for your Section 125 Plan

f you are a progressive employer you are considering or have actually moved to a total web-based communication resource for your employee communication portal.  Many benefit agencies we work with at taxfreepremiums.com have launched a web-based communication portal with smart phone capabilities.  Based on recent guidance from the DOL concerning electronic communication don’t downplay how important a resource your employees smartphone can be when distributing important benefit information including Section 125 POP Plan Summary Plan Descriptions. [read more...]

December 25th, 2012 • 0 Comments

Section 125 & Domestic Partners – What Questions Am I NOT Asking?

If you are a progressive employer you either have added coverage for domestic partners or are considering it.  Many employers including many state and local governments now offer health coverage for domestic partners.  The insurance carriers can easily add coverage and you have changed your internal policies to accommodate however there may be a question or two you haven’t yet asked regarding IRS compliance. [read more...]

December 19th, 2012 • 0 Comments

Section 125 Deductions & Intuit Payroll

If your business uses Intuit Payroll setting up a Section 125 Premium Only Plan through taxfreepremiums.com is only the start.  Once you set up a plan document and distribute the required notices to your employees you must then set-up the payroll deductions to allow for pre-tax premium deductions. [read more...]

December 18th, 2012 • 0 Comments

Section 125 Plans Used to Expand Health Coverage

Decreasing the uninsured population is key in making insurance more affordable.  Although many would argue that access to healthcare is a major issues, our staff would argue that affordability not access is at the heart of the problem.  ACA (Affordable Care Act) has already begun its implementation however each state is taking a different path on how it interprets execution and in its approach. [read more...]

December 17th, 2012 • 0 Comments

Only 17 States Will Run Their Own State-Based Health Exchange

This past Friday Dec. 14th, 2012 marked the deadline date for each state to elect their participation in the Health Exchange.  To this date there are 21 states that have elected not to run their own state based exchanges leaving the job to the Federal Government. [read more...]

December 16th, 2012 • 0 Comments

When was the last time you reviewed your Section 125 POP Plan provider?

If your company is like most small business you outsource your payroll to either a local boutique firm, or large national payroll provider.  As you analyze your budget for the upcoming 2013 year make sure to review your Section 125 Premium Only Plan document and provider. [read more...]

December 11th, 2012 • 0 Comments