Updates to the health care reform law for 2013 include:

  • Premium tax on fully insured and self-funded group health plans to fund comparative effectiveness research program begins.
  • 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 individuals.
  • 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.
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