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:10/13/2017)... ... 13, 2017 , ... The American Board of Family Medicine's (ABFM) Board of ... Executive Officer, succeeding Dr. James C. Puffer upon his retirement. Dr. Newton will serve ... Puffer’s retirement at the end of 2018. Upon assuming the role of President and ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... (SOP) alumni Hannah Randall, PharmD ‘17, and Jennifer Huggins, PharmD ’17, along ... updates for the primary prevention of cardiovascular diseases during the 15th Annual ...
(Date:10/13/2017)... ... , ... Many families have long-term insurance that covers care for a family ... for care if the client has a cognitive impairment diagnosis. , “What this ... often waived, so the benefits from their insurance start immediately,” said Mechell Vieira, owner ...
(Date:10/13/2017)... Milford, NJ (PRWEB) , ... October 13, 2017 , ... ... weekend at scenic Alexandria Park in Milford, NJ. This free event, sponsored by ... and physical activity. The fun run is geared towards children of all ages; ...
(Date:10/13/2017)... ... 2017 , ... Coveros, a leader in agile coaching services ... by the Center for Medicare and Medicaid Services (CMS). The Enterprise Agile Transformation ... Agile methodologies in a consistent and high value manner across CMS programs. Coveros ...
Breaking Medicine News(10 mins):
(Date:9/27/2017)... MIAMI , Sept. 27, 2017  Commended for their ... recent notable awards. Ranked as number one in the South ... ninth time in Inc. 5000 yearly list, the national specialty ... CEO, Armando Bardisa will soon be honored by ... Set to receive his award ...
(Date:9/25/2017)... , Sept. 25, 2017   Montrium , ... File solutions, today—from the IQPC Trial Master Files ... , NL)—announced that EastHORN Clinical Services has selected ... programs and TMF management. EastHORN, a leading European ... platform to increase transparency to enable greater collaboration ...
(Date:9/23/2017)... , Sept. 22, 2017 Janssen Biotech, Inc. ... response letter from the U.S. Food and Drug Administration ... of sirukumab for the treatment of moderately to severely ... additional clinical data are needed to further evaluate the ... severely active RA. ...
Breaking Medicine Technology: