Healthy Perspectives: Health Insurance Blog

A Health savings account is a tax-exempt savings account created to help individuals save pre-tax dollars for qualified medical, dental and vision expenses. This allows you to put money aside and withdraw it tax-free, provided you spend it on qualified services. You can use your HSA to pay for doctor visits, acupuncture, ambulance costs, prescription drugs, psychiatric care, hearing aids, and qualified long-term care services. Also, you can spend the money on the same medical services administered to your spouse or children. Is a Health Savings Account a Good idea in Your 20s and 30s? When you are younger, and …

Health Savings Accounts     Read More »

Most people in America get their health insurance coverage from their employers, making health insurance benefits more accessible for as long as one has a job. Losing your job means that you will lose the health benefits. Luckily, you can receive health coverage even after losing employer-sponsored coverage with these options: Purchase Your Health Insurance through the Marketplace You can enroll in a Marketplace health insurance plan as soon as you lose your job-based health insurance. You qualify to get a Marketplace plan regardless of whether you quit or were fired. You only need to file a marketplace application to …

Lost Your Job? How to Keep Your Health Insurance or Find New Health Insurance Read More »

If you’re a business owner looking for talented employees, you probably have clearly defined strategies you use to attract new candidates. This could include conducting extensive interviews, training, or outlining job requirements. A common strategy used by most small and medium-sized companies to retain talent is providing robust health benefits. Employees are more likely to remain at their employer when they like their health benefits . Having a comprehensive employer-sponsored health coverage offering is essential for recruiting, retention, and performance. A new survey conducted for America’s Health Insurance Plans (AHIP) reveals that about 56% of Americans with employer-provided health benefits …

How Health Benefits Play into a Health Retention Strategy Read More »

If you own a small business and are enrolled in the Small Business Health Options Program (SHOP), you may be eligible for the Small Business Health Care Tax Credit. Tax credits are designed by the U.S. federal government to help small businesses contribute to their workers’ health benefits with lower health insurance premiums. This program can save up to 50 percent of employees’ premium contributions and up to 35 percent for non-exempt employers. However, not all small businesses qualify for these exclusive tax savings. As a small employer, you must meet certain company size requirements to qualify for tax credits. …

Build Back Better – Tax Credits Read More »

For self-employed individuals, the cost of health insurance is treated as an ordinary expense. Whether you obtain the coverage under your name or business, you can deduct the premiums paid for you, a dependent child, spouse, or an underage non-dependent child. If you are a business owner providing health benefits, health insurance can be a business expense. However, in most cases, health insurance is a shared expense between employers and employees. This occurs when your employees are in a health insurance plan that requires their employers to make a contribution. Features that Make health Insurance a Worth While Expense Deductions …

Can Health Insurance Be a Business Expense? Read More »