Navigation Links
Zane Benefits Publishes New Information on the Individual Health Insurance Mandate Tax Penalty
Date:2/8/2013

Park City, Utah (PRWEB) February 08, 2013

Today, Zane Benefits, Inc. published new information on the Individual Health Insurance Mandate Tax Penalty. 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, beginning in 2014, the Affordable Care Act includes a mandate for most individuals to have health insurance. If an individual fails to meet the requirements of the mandate, he or she will be required to pay a tax penalty. Specifically, the individual mandate requires individuals to maintain "minimum essential coverage" for themselves and their dependents. Here are some frequently asked questions (FAQs) about the mandate:

What is Minimum Essential Coverage?

According to Zane Benefits’ website, Minimum essential coverage is the minimum amount of health insurance coverage an applicable individual must purchase to avoid paying the penalty.

What Types of Coverage Qualifies as Minimum Essential Coverage?

According to Zane Benefits’ website, the following plans qualify as minimum essential coverage:
1.    Coverage under government sponsored programs (e.g. Medicare and Medicaid).
2.    Coverage under an "eligible employer-sponsored plan".
3.    Coverage under a plan offered in the individual market within a State.
4.    Coverage under a grandfathered health plan.
5.    Other coverage, such as coverage under a State risk pool, that the Secretary of Health and Human Services (HHS) chooses to recognize as minimum essential health coverage.

Minimum essential coverage does not include:

1.    Coverage consisting of excepted benefits, such as dental-only coverage.
2.    Employer-based coverage that is not offered through an "eligible employer-sponsored plan", such as a Health Reimbursement Arrangement.

What is an “Eligible Employer-Sponsored Plan?”

According to Zane Benefits’ website, coverage under an eligible employer-sponsored plan is defined as a group health plan or group health insurance coverage offered by an employer which is:

1.    a governmental plan under PHS section 2791(d)(8),
2.    any other plan or coverage offered in the small or large group market within a State, or
3.    a grandfathered health plan offered in a group market.

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/prweb10395536.htm.


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

Related medicine news :

1. Daily Dialysis Has Risks, Benefits for Kidney Disease Patients
2. Students in Educational First Steps Assisted Centers Show Persistent Benefits Far Beyond Early Childhood According to University of Texas at Dallas Study
3. Omnivita Benefits Launches No-Cost Prescription Drug Discount Card
4. Benefits of CT Scans May Outweigh Cancer Risk for Young Adults
5. Benefits of CT outweigh cancer risks in young adults
6. RSNA: Benefits of CT Outweigh Cancer Risks in Young Adults
7. With Benefits Unproven, Why Do Millions of Americans Take Multivitamins?
8. Zane Benefits Publishes New Information on Types of Health Insurance Plans
9. Zane Benefits Publishes New Information on Small Business Employee Benefits
10. Zane Benefits Publishes New Information on Health Care Reform and Adjusted Gross Income (AGI) vs. Modified AGI
11. Zane Benefits Publishes New Information on Actuarial Value (AV)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... Michigan (PRWEB) , ... June 24, 2016 , ... June ... about the dangers associated with chronic pain and the benefits of holistic treatments, ... individuals who are suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is ...
(Date:6/24/2016)... MIAMI, Fla. (PRWEB) , ... June 24, 2016 , ... ... Florida Trend magazine’s 2016 Legal Elite. The attorneys chosen by their peers for this ... of Florida. , Seven Greenberg Traurig Shareholders received special honors as members of this ...
(Date:6/24/2016)... Rhinebeck, NY (PRWEB) , ... June 24, 2016 , ... Topical BioMedics, Inc, makers of ... of companies that call for a minimum wage raise to $12 an hour by 2020 ... wage. This will restore the lost value of the minimum wage, assure the wage floor ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... Living, is proud to recognize Dr. Barry M. Weintraub as a prominent plastic ... most beautiful women in the world, and the most handsome men, look naturally ...
(Date:6/24/2016)... ... June 24, 2016 , ... National recruitment firm Slone Partners ... with extensive sequencing and genomics experience, as Vice President of North American Capital Sales ... be responsible for leading the sales team in the commercialization of the HTG EdgeSeq ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 ... Oticon , industry leaders in advanced ... launch of Oticon Opn ™, the world,s first ... of possibilities for IoT devices.      (Photo: ... Oticon introduces a number of ,world firsts,: ...
(Date:6/23/2016)... June 23, 2016 The vast majority of ... dialysis facility.  Treatments are usually 3 times a week, ... visit, including travel time, equipment preparation and wait time. ... especially grueling for patients who are elderly and frail.  ... nursing and rehabilitation centers for some duration of time. ...
(Date:6/23/2016)... , June 23, 2016  Experian Health, ... and transforming the patient payment and care ... innovative new products and services that will ... revenue cycle offerings. These award-winning solutions will ... workflows, remain compliant in an ever-changing environment ...
Breaking Medicine Technology: