J.K. Lasser's Small Business Taxes 2023

CHAPTER 19Medical Coverage

• Health Care Mandates
• Deducting Medical Insurance for Covering Employees
• Deducting Health Coverage for Self‐Employed Persons and More‐Than‐2% S Corporation Shareholders
• Using Reimbursement Plans
• Tax Credit for Contributions to Employee Health Coverage
• Shifting the Cost of Coverage to Employees
• Health Savings Accounts (HSAs)
• Archer Medical Savings Accounts (MSAs)
• COBRA Coverage
• Wellness Programs
• Reporting Health Coverage on W‐2s
• Glossary of Terms for Health Coverage

Alert

At the time this book was published, Congress was considering tax changes that could affect 2022 tax returns and planning for 2023. Check the online Supplement in February 2023 at www.jklasser.com or www.BigIdeasForSmallBusiness.com to see what changes have been enacted and when they become effective.

While COVID‐19 waned during 2022, variants continued to crop up, although transitioning to an endemic. Under federal law, health insurance plans and insurers must cover the cost of certain items and services related to diagnostic testing for COVID‐19 furnished on or after March 18, 2020, and during the applicable emergency period, which was extended beyond March 1, 2022, and has yet to end. This must be done without any cost‐sharing (no co‐payments or deductibles). But COVID‐19 is not the only medical issue faced by many people in 2022.

Medical coverage is an expensive personal expense for most people. So, for many, a job that provides medical coverage offers an important ...