Affordable Care Act (ACA) - Small Employers Avoid Non-discrimination With Section 125 Plans

 

Businesses with employees may no longer reimburse themselves or their employees for health insurance purchased individually, such as through an ACA Exchange or Medicare supplements.  So-called "employer shop policies" purchased through the Exchange are permitted because they constitute an "employer plan."  Be aware that ACA non-discrimination provisions generally require insurance provided under employer plans to be offered to all employees on similar terms.  So-called IRC Section 125 Plans remain an excellent funding mechanism to avoid non-discrimination provisions for small employers. 

 

We have IRC Section 125 Plans in boilerplate for tailoring to employer circumstances.

 

Large employers must report the health care status of all employees, and in particular those employees who obtained insurance through the Exchange and received a premium credit will subject the business to substantial penalties.

In your CPA firm's experience, what is the most material overlooked deduction in the estate, gift and trust income tax area

If you have any questions, do not hesitate to contact the professionals at Dana S. Beane & Company, P.C.

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