Understanding Employee Benefits

IRS Clarifies Medicare Premium Deductions for Sole Proprietors, Partners and S Corporation Shareholder-Employees

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Sole proprietors, partners (including LLC members) and two percent shareholders in an S corporation are not treated as “employees” for purposes of certain benefits. Among those benefits is employer provided health insurance coverage. While employer subsidies for health coverage are generally excluded from the income of employees, that is not... Read More

Topics: Cafeteria Plans, Health Plan, Payroll

HSA/HDHP Limits for 2013

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The IRS has released the 2013 limits for Health Savings Account (HSA) contributions. The annual contribution limit for 2013 increases to $3,250 for an individual with self only coverage and $6,450 for an individual with family coverage from $3,100 and $6,250, respectively for 2012. The minimum annual deductible for a qualifying... Read More

Topics: Cafeteria Plans, Health Plan