If so you can now deduct:

Deductibles and copayments
Over-the-counter and prescription drugs
Dental and orthodontic care
Vision care, including frames, contacts and
lasik surgery
Childbirth and pre/postnatal care
Hospital charges, including private-room
Private duty nursing and home health care
Medical transportation
Health related mileage, lodging and meals
Medical supplies & equipment
Preventative and rehabilitative care
Chiropractic and podiatry
Non-congenital treatments

How?  Through what is known as a “fully insured medical plan”  For more information, contact us:

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Immediately

For individuals the new Health Care Reform laws will have no impact for 90 days.

90 Days From Signing

The main change affecting individuals is that pre-existing conditions will not longer be grounds for denial of coverage.  Certain persons will be able to participate in new “State Run High Risk Pools” – although little information is available about these pools or their costs.

6 Months From Signing

Lifetime limits for any participant or beneficiary are prohibited.

Jan 1, 2014

All citizens MUST purchase health insurance!  Violators will be subject to an excise tax penalty for noncompliance.

Individuals NOT covered by an employer may be eligible for tax credits to help purchase individual policies

For more details on how this is going to affect you contact us.

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Eligible Small Business – those with no more than 25 full time employees with average annual wages of $50,000 will be eligible for a premium tax credit of 50% for up to two years

Within Six Months

Small businesses that employee less than 50 full time employees are eligible for a tax credit equial to 35% of their health insurance premiums.  Asll grou health plans must covery preexisting conditions for children 19 or younger.

Jan 1, 2011

All employers must include on w-2′s the cost of health benefits.  Over the counter drugs will no longer be reimbursable under health savings accounts, unless prescribed by a doctor.  Employers with less than 100 employees may be able to adopt “simple cafeteria plans” although those have not been defined as yet.

Jan1, 2012

All group and individual plans must provide a summary of benefits that will require substantially more information than current plan descriptions or face a $1000 per employee fine.  All plans must submit to the federal government annual reports that show whether the plans meet federal criteria on improving health outcomes, preventing hospital readmissions,   Most importantly existing health insurance plans must offer preventative care without a co-pay.

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