J.K. Lasser's Small Business Taxes 2015: Your Complete Guide to a Better Bottom Line

CHAPTER 19 Medical Coverage

1. Health Care Mandates
2. Deducting Medical Insurance for Employees
3. Deducting Health Coverage by Self-Employed Persons and More-Than-2% S Corporation Shareholders
4. Using Medical Reimbursement Plans
5. Tax Credit for Contributions to Employee Health Coverage
6. Shifting the Cost of Coverage to Employees
7. Setting Up Health Savings Accounts (HSAs)
8. Archer Medical Savings Accounts (MSAs)
9. Health Reimbursement Arrangements
10. COBRA Coverage
11. Wellness Programs
12. Reporting Health Coverage on W-2s

 

Alert

At the time this book was printed, Congress had not extended numerous breaks for 2014 that had expired at the end of 2013. Check the online supplement in February 2015 at www.jklasser.com or www.barbaraweltman.com to see whether these breaks apply for 2014 returns.

Medical coverage is an expensive personal expense for most people. So, for many, a job that provides medical coverage offers an important benefit. For the small business owner there is often a need to obtain personal coverage. It may also be good business practice to offer medical coverage as a benefit to attract and keep good employees. A write-off of all or a portion of the cost of medical coverage is a significant cost-saving feature of providing such coverage.

On March 23, 2010, the historic Patient Protection and Affordable Care Act was signed into law; the following week the Health Care and Education Reconciliation Act became law. Essentially, these acts mandate that every individual in the United States ...