Health Care Insurance – DougFreemanCPA.com

Is an HDHP plus an HSA a financially smart health care option for you?

Health Care, Health Care Insurance, Health Savings Account, High Deductable Health Plan, Individual Income Tax, Individual Tax Tips, Medical Deductions, Medical Expenses, Qualified Medical Expenses / Douglas Freeman

Health care costs continue to increase. Pairing a high-deductible health plan (HDHP) with a Health Savings Account (HSA) can help. Insurance premiums will be lower because of the high deductible. And the HSA provides a tax-advantaged way to fund the deductible and other medical expenses. 5 HSA tax benefits HSAs offer both current and future […]

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5 ways businesses can assess health care benefits spending

Company Health Care Plans, Employees, Empolyee Health Coverage, Health Care, Health Care Insurance, Small Business Owners / Douglas Freeman

If your business sponsors health care benefits for its employees, you know the costs of doing so are hardly stable. And unfortunately, the numbers tend to rise much more often than they fall. According to global consultancy Mercer’s Survey on Health & Benefit Strategies for 2026, 51% of large organizations surveyed said they’re likely to make

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Weighing the pluses and minuses of HDHPs + HSAs for businesses

Health Care Insurance, Health Savings Account, High Deductable Health Plan, Small Business, Small Business Owners, Small Business Tips / Douglas Freeman

Will your company be ready to add a health insurance plan for next year, or change its current one? If so, now might be a good time to consider your options. These things take time. A popular benefits model for many small to midsize businesses is sponsoring a high-deductible health plan (HDHP) accompanied by employee Health

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Should your company offer fertility benefits?

de mimimis Fringe Benefits, Employees, Empolyee Health Coverage, Fertility Benefits For Employees, Fringe Benefits For Employees, Health Care Insurance, Health Savings Account, High Deductable Health Plan, Small Business, Small Business Owners / Douglas Freeman

Most businesses today understand all too well that they must craft a robust and varied benefits package to draw good job candidates and retain valued employees. But beyond basics such as health insurance and a retirement plan, there are so many options. Well, you can add one more to the list: fertility benefits. Recent surveys

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Understanding your obligations: Does your business need to report employee health coverage?

Affortable Care Act (ACA), Applicable Large Employers (ALEs), Company Health Care Plans, Employee Benefits, Empolyee Health Coverage, Health Care Insurance, Small Business, Small Business Owners, Small Business Tips / Douglas Freeman

Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding the reporting requirements of federal agencies such as the IRS. Does your business have to comply, and if so, what must you do? Here are some

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Health care self-insurance and stop-loss coverage: What business owners need to know

Health Care Insurance, Small Business Tips / Douglas Freeman

For businesses, cost-effectively sponsoring a health insurance plan for employees is an ongoing battle. In the broadest sense, you have two options: fully insured or self-funded. A fully insured plan is simply one you buy from an insurer. Doing so limits your financial risk while offering the most predictable costs. The other option is what’s

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Should your business change its health care plan for next year?

Company Health Care Plans, Health Care Insurance, Health Savings Account, Small Business, Small Business Health Options Program (SHOP), Small Business Owners, Small Business Tips / Douglas Freeman

Open enrollment for most healthcare plans is many months away. That makes now a good time for businesses to consider changing their employer-sponsored coverage for next year, or perhaps to think about launching a plan for the very first time. If you’re going to do either, you’ll have many details to sort through. To simplify

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A job loss is bad but the tax implications could make it worse

Federal Taxes, Health Care Insurance, Incentive Stock Options (ISOs), Ordinary Income Tax, Unemployment, Unemployment Tax / Douglas Freeman

Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain industries including technology and media. If you’re laid off or terminated from employment, taxes are likely the last thing on your mind. However, there are tax implications due to your altered employment circumstances. Depending

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Cost containment: An important health care benefits objective for businesses

Company Health Care Plans, Employees, Health Care, Health Care Insurance, Health Insurance Marketplace, Health Savings Account, High Deductable Health Plan, Small Business, Small Business Tips / Douglas Freeman

As the Fed continues to do battle with inflation, and with fears of a recession not quite going away, companies have been keeping a close eye on the costs of their health insurance and pharmacy coverage. If you’re facing higher costs for health care benefits this year, it probably doesn’t come as a big surprise.

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ACA penalties will rise in 2024

Affortable Care Act (ACA), Health Care Insurance, Small Business / Douglas Freeman

Recently, the IRS announced 2024 indexing adjustments to the applicable dollar amount used to calculate employer-shared responsibility penalties under the Affordable Care Act (ACA). Although next year might seem a long way off, it’s best to get an early start on determining whether your business is an applicable large employer (ALE) under the ACA. If

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