Monthly Archives: January 2016

Understanding your deductible

January 24th, 2016 (No Comments)

Most health plans today have a deductible.   A deductible is the dollar amount of your covered claims you are responsible for before your insurance will start to pay. Deductibles can operate differently from carrier to carrier and from plan to plan.    To help you understand your deductible, find out the answers to the following questions […]

IRS Extends Deadline for Section 6055 and 6056 Reporting

January 7th, 2016 (No Comments)

On December 28, 2015, the IRS granted an extension to employers and insurers for the Affordable Care Act reporting required under Sections 6055 and Sections 6056.  Section 6055 reporting is for insurers and self- insured groups that do not meet the 50 lives Applicable Large Employer(ALE) definition.  Section 6056 is for employers meeting the ALE […]

2016 HSA contributions

January 3rd, 2016 (No Comments)

Now that 2016 has begun, check your current payroll contributions into your HSA(health savings accounts). The maximum for individuals is $3350 which is no change from 2015.  The maximums for families is $6750 which is an increase of $100 from 2015.  If you are 55 or older at the end of 2016, you are eligible […]