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The Internal Revenue Service (IRS) announced on December 28 that it will extend the Health Coverage Tax Credit (HCTC) through December 31, 2021. The HCTC, which allows a tax credit to offset up to 72.5 percent of the cost of health insurance premiums, applies to workers who lost their jobs due to trade-related reasons or […]
By definition, cafeteria plans allow employees to choose between cash and a variety of employer-provided benefits without having to include the value of their chosen benefits as taxable income. Cafeteria plans are popular because they allow employees to design individualized benefits programs that suit their own special needs.
by Donald M. Harrison Will health care reform affect workers’ comp? Even though the term “workers’ compensation” isn’t mentioned in the bill, I anticipate both direct and indirect effects on workers’ comp. Most of the consequences are unknown at this time and may not be known for several years, but two direct results are already […]
by Sally J. Reynolds Each year thousands of Americans resolve to quit smoking, but most will be unsuccessful. Some employers have begun implementing financial incentives to motivate their health plan participants to stop using tobacco. One type of reward may be a discount on health insurance premiums for employees who don’t use tobacco or are […]