Nathan Cox-Reed has a toothache. He thinks he needs a root canal, but the full-time student, 22, is uninsured. He can’t afford a trip to the dentist. “I’m only working 30 hours a week. I wouldn’t have enough money to do something like that,” said Cox-Reed, a film and video student at Columbia College in […]
The Internal Revenue Service (IRS) has announced the 2016 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code. Annual Contribution Limitation For calendar year 2016, the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan is $3,350. The annual limitation on HSA deductions […]
Federal regulators Thursday proposed limits on how employers use financial penalties and rewards to nudge staff to participate in fast-growing workplace wellness programs. The Equal Employment Opportunity Commission — which enforces laws against discrimination — said Thursday that employers can use financial incentives up to 30 percent of the cost of premiums for single coverage, […]
In all the turmoil in health care, one surprising truth is emerging: Consumers seem increasingly comfortable trading a greater choice of hospitals or doctors for a health plan that costs significantly less money. “Are they willing to trade choice and access for price? There’s no question about that,” said Mark Newton, the chief executive of […]
Special Updates: Same-sex couples, legally married in jurisdictions that recognize their marriages,will be treated as married for all federal tax purposes (including employee benefits). More specific IRS guidance includes: Agency guidance released by the U.S. Treasury Department and the IRS addresses the recognition of same-same marriage in the wake of the U.S. Supreme Court ruling […]
Leading Republican senators on Wednesday introduced a bill to repeal one of Obamacare’s most unpopular provisions – the individual mandate that requires most Americans to obtain health insurance or pay a penalty. Senator Orrin Hatch, chairman of the Senate Finance Committee, and Senator Lamar Alexander, who heads the Senate Health, Education, Labor and Pensions Committee, […]