Group Life & Health

IRS Releases New Notice on W-2 Reporting Requirements

Posted on February 7, 2012. Filed under: Group Life & Health | Tags: , , , , , |

Employers that filed 250 or more W-2 forms in 2011 will be responsible for reporting to employees the total cost of their group health benefit plan coverage on their 2012 W-2 forms issued in January 2013. This reporting requirement is informational only and does not mean that coverage will be subject to income tax.

On Jan. 4, 2012, the IRS issued Notice 2012-9 on the W-2 Reporting Requirement of the Patient Protection and Affordable Care Act. See how this recent notice and the W-2 requirement may affect your clients filing more than 250 W-2 forms in 2011.

Continue to UnitedHealthcare’s full article.

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Tax Credits and Group Health Insurance

Posted on September 9, 2011. Filed under: Group Life & Health | Tags: , , , , , , , , , |

Are you a small business owner in Austin, Texas, or the greater Austin area, who would like to offer benefits to your employees, but think you can’t afford to do so? We can help you by providing free small group health insurance quotes with five of the largest health insurance providers in the nation. We can also help you calculate your possible tax savings, through the government credits that are currently being offered. We are licensed in the State of Texas and provide: commercial, life and health (for both individuals and groups), home and auto insurance. Contact us today!

*Note: we are not tax advisors, nor do we provide tax services. All information provided will be illustrative. Tax professionals should be consulted to determine actual eligibility for and amount of any applicable credits.

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Setting Yourself Apart as an Employer

Posted on December 10, 2010. Filed under: Group Life & Health | Tags: , , , , |

One of the easiest ways to set yourself apart as an employer today, is by offering a benefits package. Because of the recession, even large companies are cutting and, in some cases, eliminating the benefits they offer their employees. Being a small to mid-sized employer should not mean you are unable to provide health insurance benefits.

While employers are required to contribute a minimum of 50% of the employee’s premium, there are tax breaks available to help offset the cost. Plus, there is no question that a benefits package is one of the best ways to attract and keep high-quality, experienced, employees. Additionally, individuals with health benefits are more likely to visit a doctor when they get sick, meaning quicker recovery times and less sick days. Employee morale can also be positively impacted, when employers communicate that they value their staff and care for them.

It can be a daunting task to investigate group health options, as the number of companies offering coverage and the variety of plans available is expansive. However, there are affordable options for both PPO and HSA plans, for most employers. An independent agent can provide valuable assistance by collecting quotes from multiple insurers and identifying plans that best suit your company’s needs. It is important to know that utilizing an agent DOES NOT affect your premiums. And, when quoting identical small group plans with the same insurer, the cost will be the same regardless of the agent you use. Because of this, it is most important that you identify an agent who is experienced, knowledgable, detail oriented, and focused on meeting your expressed needs.

We want to be your advocate. Contact us for customized, personal attention, focused on your expressed needs. We are located in Austin and licensed in Texas.

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