Legislation

The Affordable Care Act is law, but what does it really mean for the cost of health insurance for Americans who will be purchasing coverage on the new state healthcare exchanges?

54% of Independent Business Owners Say Weak Economic Environment is #1 Concern in 2014

Tax deferred retirement savings accounts, especially 401(k)s, have long been a standard for American workers looking to ensure some savings and income during their retirement years. But the economy and recent changes to healthcare law and insurance premiums are having a negative effect on savings rates.

The Internal Revenue Service (IRS) needs to strengthen systems development controls for the Premium Tax Credit (PTC) Project, the Treasury Inspector General for Tax Administration (TIGTA) concludes in a new report publicly released today.

Health reform expanded Medicaid to those earning less than 138 percent of poverty level. To speed up the application process, Medicaid no longer asks for savings account statements and insurance policy values to determine eligibility.

Both sides still are coming to terms with the potential outcomes of the decision on whether to expand the state and federally funded program providing health care for people with low incomes. It could be years before the issue is resolved, said Del. R. Steven Landes, R-Weyers Cave, the vice chairman of a state panel exploring the topic.

Anyone trying to estimate their 2014 income to know whether they qualify for tax credits from a new health insurance exchange likely ran into this question:

Thomson Reuters Releases ACA Decision Support Tool for Tax and Employee Benefits Professionals