Information regarding Filing Taxes Overseas for Expatriates, Non-Profit Volunteers, and International Businesspeople. While we are not tax experts, we have put together a quick and easy reference on filing taxes overseas for expatriates and clients of Good Neighbor Insurance. 1.) The IRS has a great resource with answers to many questions regarding filing taxes overseas as an […]
taxes
Repaying Exchange Subsidy Overpayments
Repaying Exchange Subsidy Overpayments means if you receive more money from the U.S. government for your health care subsidy you will pay it back by April 15th of the next year during tax season. The Affordable Care Act (ACA) created health insurance subsidies—in the form of premium tax credits and cost-sharing reductions—to help eligible individuals and families […]
Affordable Care Act (ACA) Violations as well as Penalties and Excise Taxes
Affordable Care Act (ACA) Violations as well as Penalties and Excise Taxes. The Affordable Care Act (ACA) includes numerous reforms for group health plans and creates new compliance obligations for employers and health plan sponsors. The ACA, for example, requires health plans to eliminate pre-existing condition exclusions and provide coverage for preventive care services without cost-sharing. Some […]
Disclosure of Individual Tax Return Information relating to PPACA
Disclosure of Individual Tax Return Information relating to PPACA The Affordable Care Act (ACA) allows the Internal Revenue Service (IRS) to disclose certain limited taxpayer information to the Department of Health and Human Services (HHS), the Exchange and state agencies for use in verifying eligibility for health care affordability programs. This provision, found in Section […]
Affordable Care Act Violations – Penalties and Excise Taxes
Affordable Care Act Violations – Penalties and Excise Taxes The Affordable Care Act (ACA) includes numerous reforms for group health plans and creates new compliance obligations for employers and health plan sponsors. The ACA, for example, requires health plans to eliminate pre-existing condition exclusions and provide coverage for preventive care services without cost-sharing. Some of […]
Taxes and Fees under the Affordable Care Act
Taxes and Fees under the Affordable Care Act The health care reform law, known as the Affordable Care Act (ACA), makes significant changes to the U.S. health care system, including new coverage requirements, patient protections and cost limitations. These changes affect health care providers, government programs, health insurance issuers, employers and plan sponsors, and individuals. […]
Health Care Reform: What Does the Individual Mandate Mean to Me?
Health Care Reform: What Does the Individual Mandate Mean to Me? A key provision of the Affordable Care Act (ACA) is the “individual mandate,” which requires most individuals to purchase health insurance coverage or pay a penalty. What is the individual mandate? The ACA requires most individuals to obtain acceptable health insurance coverage for themselves […]
Final IRS ruling on taxes, fines, and penalties for individuals and families starting in 2014
We just received the final ruling from the IRS on the tax / fines / penalties for individuals and families for their U.S. domestic health insurance starting January 1st, 2014. Here is the full information from the IRS today: On August 27, the Internal Revenue Service (IRS) issued a final rule for the individual mandate […]
2014 through 2016 fines/taxes if an American resident does not have U.S. domestic health insurance
Our Arizona health insurance and our international overseas medical insurance guests/clients have asked us what the fines/taxes are for not have a U.S. domestic medical health insurance when residing in the U.S. starting in 2014. Here is that information as well as some additional information. Right now the fines are pretty set for the next […]
Tax hikes from March 2010 health care law
Good Neighbor Insurance (dev.gninsurance.com and www.gninsurance.com) is continuing to update our clients on the new health insurance laws that were signed into law in the spring of 2010. There are six major coverage options for those in the US and even though some of the rules and regulations are similar for all many differences are […]
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