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If you qualify for a subsidy, then you can only deduct the after-subsidy amount that you pay for your health insurance from your taxes. In some cases, your spouse’s health insurance premiums.
Among the "qualifying events" listed in the statute are loss of benefits coverage due to (1) the death of the covered employee; (2) an employee loses eligibility for coverage due to voluntary or involuntary termination or a reduction in hours as a result of resignation, discharge (except for "gross misconduct" [4] [5]), layoff, strike or ...
Contributions to a Section 79 plan are tax-deductible, though for owner(s), and 2% or more shareholders, contributions are deductible only if paid by, and from, a C Corporation. A Section 79 benefit program may allow the following benefits. The ability to purchase permanent life insurance with corporate dollars
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) enables certain individuals with employer-sponsored coverage to extend their coverage if certain "qualifying events" would otherwise cause them to lose it. Employers may require COBRA-qualified individuals to pay the full cost of coverage, and coverage cannot be extended ...
COBRA insurance coverage is a common phrase, but most people aren't fully aware of what COBRA is, what it costs, and whether or not it's really beneficial to an unemployed worker. Lucky for you ...
Unemployed workers who have been taking advantage of a federal subsidy to help them pay for continued health care coverage will soon get an unwelcome reminder of how much that insurance really costs.
Insurance companies themselves, as well as self-insuring employers, purchase stop-loss coverage for a premium to protect themselves. [1] In the case of a participant reaching more than the specific (or "individual") stop-loss deductible ($300,000, for example), the insurer will reimburse the insured (the company, not the participant) for the remainder of the claim to be paid over that ...
COBRA, the federal program that allows people who have lost their jobs to continue paying for their former employer's healthcare plan, is free through Sept. 30. COBRA is free for six months under ...