HEALTHCARE REFORM: 2013 REVIEW
Updates to the health care reform law for 2013 include:
| Our Staff & History | Frequently Asked Questions |
- Premium tax on fully insured and self-funded group health
plans to fund comparative effectiveness research program
- FSA contributions for medical expenses are limited to $2500
per year, with the cap annually indexed for inflation. IRS
guidance issued in June 2012 clarified that the cap applies on
a plan year basis beginning after December 31, 2012.
- The Medicare payroll tax increase of 0.9% goes into effect for
individual filers with incomes over $200,000 and joint filers
with incomes over $250,000. In addition, there is a new 3.8%
Medicare contribution on certain unearned income from high income
- For those who itemize their federal income taxes, the
threshold for deducting unreimbursed medical expenses
increases from 7.5% of AGI to 10% of AGI. The increase is
waived for those 65 years and older through 2016.
- All employers are required to provide notices to their
employees informing them of the existence of the state-based
exchanges. The original deadline of March 1 for distribution of these
notices has been delayed until late summer or fall of 2013. Details of
the content of such notices and a template have not been released.
| Services that we offer | Forms | Contact Us | Home |