Defining Small Employer with Regards to Offering Health Insurance

Many business owners of all sizes have been posting to this blog lately with concerns about offering minimum essential health insurance coverage for their employees. It is indeed a complex topic full of both pitfalls and opportunities. When you drill down into the nuances of what it really means to be a small employer in these regards it quite…

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Incorrectly Issued Health Insurance Marketplace Statement Relief – Form 1095A

I had a grEAt conversation with my friend Bob Kerr Friday. We talked about the Department of the Treasury expanding the relief it announced previously on February 24, which will mitigate any harm to tax filers in regards to filing Form 1095A under the Affordable Care Act. Basically, if you enrolled in Marketplace coverage, received…

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What is an FTE? What is a Seasonal Employee?

My friend, confidant, mentor and expert in the procedural ramifications of ObamaCare, Debbie Nash of D. Nash & Associates, got to talking with me about some of the nuances of this legislation and our discussion quickly digressed into what the definition is of a ‘Full Time Equivalent’ (FTE) employee for IRS tax purposes. One of…

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Individuals Exempt from the Affordable Care Act (Obama Care) Mandate

US citizens are required to carry minimum essential health insurance coverage beginning January 1st 2014. This is also commonly referred to as the ‘individual mandate’ and some people are exempt from this individual mandate including: Members of recognized religious sects that are exempt from self-employment tax. Members of health care sharing ministries. Individuals who are…

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Affordable Care Act Final Regulations Regarding Minimum Essential Coverage Maintenance

The IRS released final regulations regarding minimum essential coverage maintenance required under the Affordable Care Act for individual taxpayers under IRC 5000A governing the shared responsibility payment. The document is 75 pages long and I’ll be reviewing it over the next couple of days but I’ve pulled five examples directly below to help taxpayers try to…

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ObamaCare’s Health Insurance Premium Tax Credit Proposed Regulations

The Affordable Care Act or ObamaCare was passed almost three years ago with the goal of extending quality health insurance coverage to more Americans and it becomes fully effective January 1st 2014. To encourage compliance, the Act for all intents and purposes takes a carrot-and-stick approach as credits are offered for those who need financial help with…

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