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Sec 105 Medical Reimbursement Plans may become obsolete under the ACA

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    Sec 105 Medical Reimbursement Plans may become obsolete under the ACA

    If a new health insurance plan that is purchased under the ACA (Affordable Care Act) is purchased by a business with a Medical Reimb Sec 105 plan, the reimbursement out of the plan are not deductable according to an interpretation of IRS Notice 2013-54. According to TASC, who administers such plans, they are awaiting a ruling, hopefully by mid December, on whether the Sec 105 medical reimbursements are still deductible. This is hugh!

    #2
    This IS VERY huge

    A Section 105 Plan allows a qualified business owner to deduct 100% of...
    ...health insurance and dental insurance premiums for eligible employee(s) and family.
    This also includes qualified long-term care insurance.
    ...uninsured (out-of-pocket) medical, dental, and vision care expenses for eligible employee(s) and family.
    ...life, disability income, contact lens, hearing aid, Medicare Part A, Medicare Supplemental, optical/vision,
    and cancer insurance premiums for eligible employee(s).
    Confucius say:
    He who sits on tack is better off.

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