HR & Compliance

  • Individual Insurance: Reporting Coverage and Paying Penalties (Part 2) by

    Posted on: January 29, 2015Categories: HR & Compliance

    Who is exempt from the individual mandate? You may be exempt from the individual mandate penalty if you: Cannot afford coverage Have income below the federal income tax filing threshold Are not a citizen, are not considered a national or are not lawfully present in the United States Experience a gap in coverage for less than a continuous three-month period Qualify as a religious conscientious objector Are a member of a health care sharing ministry Are a member of certain American Indian ...

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  • Individual Insurance: Reporting Coverage and Paying Penalties (Part 1) by

    Posted on: January 27, 2015Categories: HR & Compliance

    A key provision of the Affordable Care Act (ACA) is the individual mandate, which requires most individuals to purchase health insurance coverage for themselves and their family members or pay a penalty. Starting in 2015, individuals will have to report on their federal tax return whether they had health insurance coverage for 2014 or were exempt from the individual mandate. Any penalties that an individual owes for not having health insurance coverage will generally be assessed and collected i ...

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  • How to Deduct Health-Insurance Premiums by

    Posted on: January 26, 2015Categories: HR & Compliance

    Healthcare costs are increasing so its a good idea to be on the lookout for chances to claim tax breaks for medical expenses. Click this link to read more about insurance premiums you can potentially deduct on your 2014 return. http://www.marketwatch.com/story/how-to-deduct-health-insurance-premiums-2015-01-20?page=1 ...

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