Navigation Links
Zane Benefits Publishes New Information on Health Care Reform and Adjusted Gross Income (AGI) vs. Modified AGI
Date:2/1/2013

Park City, Utah (PRWEB) February 01, 2013

Today, Zane Benefits, Inc. published new information on Health Care Reform and Adjusted Gross Income versus Modified Adjusted Gross Income. Zane Benefits, which provides comprehensive and flexible alternatives to traditional employer sponsored health benefits, is the leader in defined contribution and health reimbursement accounts.

According to Zane Benefits’ website, Modified Adjusted Gross Income is a measure used by the IRS to determine if a taxpayer is eligible to use certain deductions, credits, or retirement plans. Beginning in 2014, individuals who purchase health insurance coverage through one of the new health insurance exchanges will be eligible for financial assistance if their income is no more than 400% of the federal poverty line (FPL). “Modified Adjusted Gross Income” (not "Adjusted Gross Income") will be used in determining eligibility for these premium tax subsidies.

What is Adjusted Gross Income?

According to Zane Benefits’ website, generally, your Adjusted Gross Income (AGI) is you household's income less various adjustments. Adjusted Gross Income is calculated before the itemized or standard deductions, exemptions and credits are taken into account.

What is Modified Adjusted Gross Income?

According to Zane Benefits’ website, generally, your Modified Adjusted Gross Income (MAGI) is the total of your house hold's Adjusted Gross Income and any tax-exempt interest income you may have (these are the amounts on lines 37 and 8b of IRS from 1040).

How to Calculate Your Gross Income (GI)

According to Zane Benefits’ website, your gross income is the money you earned through wages, interests, dividends, rental and royalty income, capital gains, business income, farm income, unemployment and alimony. This is the basis for your AGI calculation.
Gross income includes salary, interest earned, income from investments and basically any income you made through business, trade or investments.

How to Calculate Your Adjusted Gross Income (AGI)

According to Zane Benefits' website, once you have gross income, you "adjust" it to calculate your AGI. You make adjustments by subtracting qualified deductions from your gross income.
Adjustments can include items like some contributions to IRAs, moving expenses, alimony paid, self-employment taxes, and student loan interest. There are many free AGI calculators available online.

Click here to read full article.

--

About Zane Benefits

Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangement (HRAs) and defined contribution healthcare. The flagship software provides a 100% paperless administration experience to employers and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.

Read the full story at http://www.prweb.com/releases/2013/2/prweb10366787.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Zane Benefits Publishes New Information on Actuarial Value (AV)
2. Impotence Drug Cialis Might Have Other Sexual Benefits: Study
3. Coming Out Can Bring Health Benefits, Study Says
4. Study demonstrates health benefits of coming out of the closet
5. Some health benefits of berries may not make it past your mouth
6. Zane Benefits Publishes New Information on Compliant HRA Software
7. New Health Benefits of Water Report Now Available at CoffeeServiceNow.com
8. United Benefit Advisors Celebrates 10th Anniversary and Recognition as One of the Nation's Top 5 Employee Benefits Organizations
9. Physical therapy in the intensive care unit benefits hospitals bottom line
10. Implanted Heart Devices Have Real-World Benefits: Study
11. Sozo Nutritionals Announces Release of Svetol® Based Natural Weight Loss Product Backed By Several Clinical Studies Showing Remarkable Weight Loss Benefits
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/24/2017)... ... 24, 2017 , ... Yisrayl Hawkins, Pastor and Overseer at The House of ... generation. Yisrayl makes an astounding statement when he says that the entire Bible ... Bible details the current times so plainly that anyone should be able to see ...
(Date:2/24/2017)... ... February 24, 2017 , ... Rosica Communications, a national ... , media relations, social media, content marketing and SEO, is now offering direct, ... an intuitive marketing automation platform. , Rosica will now offer the platform to ...
(Date:2/23/2017)... ... February 23, 2017 , ... On February 22, 2017 ... letter to withdraw previous guidance issued by the Obama Administration requiring schools ... in May 2016 by the Obama Administration came in response to a growing ...
(Date:2/23/2017)... ... February 23, 2017 , ... The American Cleft Palate-Craniofacial Association (ACPA) is ... KLS is a longtime supporter of the event. , "We are pleased that ... said Dr. Bob Havlik, 2017 ACPA President. "KLS Martin has a long track record ...
(Date:2/23/2017)... ... February 23, 2017 , ... EBSCO Information Services ... Institute for Health and Care Excellence (NICE) framework. The agreement allows purchasers ... (NHS) to search, order and purchase medical and healthcare-related content through GOBI ...
Breaking Medicine News(10 mins):
(Date:2/24/2017)... -- Research and Markets has announced the addition of ... Forecast to 2025" report to their offering. ... The Global Wireless Health Market ... the next decade to reach approximately $330.5 billion by 2025. ... all the given segments on global as well as regional levels ...
(Date:2/24/2017)... Physician General Dr. Rachel Levine ... Jennifer Smith commended South Central EMS today for ... naloxone, a life-saving overdose reversal drug. The recognition event ... and overdose survivor who was saved due to the ... significant part of fighting the opioid epidemic is making ...
(Date:2/24/2017)... 23, 2017 Report analyzes the worldwide markets for ... analytics for the US, Canada , ... Asia-Pacific , Latin America , ... for the period 2015 through 2022. Also, a six-year historic ... are derived from primary and secondary research. Company profiles are ...
Breaking Medicine Technology: