Broker Check

New Business: Double-check your health care reimbursements

September 20, 2015

Penalty relief for failing to bring your existing employer health care payment plans into Blue Springs Tax Preparation compliance with the Affordable Care Act expired on June 30. If you're still directly reimbursing your employees for health insurance premiums on policies they purchase, you may have to pay a penalty of $100 a day per employee.

These reimbursement arrangements are considered "group plans" and fail to meet key coverage requirements and other provisions of the health care laws. Contact us for assistance with evaluating your health insurance reimbursements.