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Tag: Affordable Health Care Act

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ERISA & SPD Wrap or Summary Plan Description Wrap Documents

Recently we joined forces with a company to assist in additional forms of compliance.  These compliance issues fall directly in line with the rumors of the ERISA DOL Audits.  HR Service Inc and ERISA Solutions are those companies.  The professional atmosphere, experienced employees, and customer service-oriented environment is appealing; yet the powerful and user-friendly tools/documents…
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PROPOSED CHANGES TO CAFETERIA PREMIUM ONLY PLAN ELECTIONS & LOOK-BACK PERIOD

In September the IRS issued two notices regarding the Affordable Care Act.  Notice 2014-49 describes a proposed approach for applying the look-back measurement method used to determine full-time employee status for purposes of IRS Code § 4980H in situations when the measurement period applying to an employee changes. This change may occur because the employee…
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125 POP Document Changes Summary

As explained below, the laws governing Section 125 Premium Only Plans recently changed. We have updated your plan documents to reflect these changes. Please log on to your account at https://www.taxfreepremiums.com/main/login and download the newly updated documents to remain in compliance. The new IRS Notice 1455 creates two new Section 125 mid-year qualifying events designed…
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Are You Adopting a Section 125 Plan?

Do you take your role as a plan sponsor serious enough?  Of Course you do………. your at taxfreepremiums.com If you are a corporation you are required to adopt a board resolution and have on file when sponsoring a Section 125 Plan.  This is included in the document package for clients of taxfreepremiums in a signature…
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PPACA “Obamacare” Employer Play or Pay on Hold until 2015

The provisions of “Obamacare” Play or Play known as employer shared responsibility that requires employers with 50 or more full-time equivalent “FTE’s” to offer coverage to all workers averaging 30 or more hours per week. The employer mandate was scheduled to take effect Jan. 1st, 2014 for most employers. After an announcement from the administration…
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Have You Prepared for ACA “Obamacare”

While the passage of the affordable care act “Obamacare” celebrated its 3rd anniversary, many individuals and even small business owners are still wondering what the actual effects are on them. Well it depends……… Almost every situation and options will be treated uniquely depending on the state you live in and the employment arrangement with staff.…
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Lower Taxes with A Section 125 POP

IRS-sanctioned Premium Only Plan were created by the Revenue Act of 1978 and are governed by the Internal Revenue Code Section 125. Although this code is now almost 35 years old there are still thousands of business owners and administrators who haven’t heard or aren’t aware of the significant tax efficiencies, and legal requirements to…
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Yes, A Written Plan Document for Section 125 POP is Required.

Most people know that premiums for health insurance are not taxable.  Well, that is if you have a Section 125 POP Plan.  The plan has to be in writing and there are other requirements that have to happen in order to be compliant. http://youtu.be/fzST7-rDFjQ     Watch this quick video to learn more about IRS…
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Affordable Health Care Act: Stability in a Time of Financial Upheaval

Affordable Health Care Act: Stability in a Time of Financial Upheaval The Affordable Health Care Act, a Federal healthcare reform, heralds many changes over the next three years for employers sponsoring health insurance.  With the paradigms of the health care industry shifting many businesses, especially small businesses, are hesitating to utilize the recent money saving…
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