Health care coverage gaps happen. Whether because of job loss or an extended sabbatical between gigs, you may find yourself without health care for a period. Here are some tax consequences you should know about, as well as tips to fix a coverage gap. Coverage gap tax issues You will have to pay a penalty…

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Know the ACA Rules Before Hiring This Summer

If you’re an employer, what you have to do to comply with Affordable Care Act (ACA) rules depends on the size of your workforce. When you have 50 or more full-time employees – a total that can include seasonal workers – you have to deal with additional reporting and coverage requirements known as the “employer…

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Healthcare Reporting Requirements

If you’re an applicable large employer, there may be healthcare reporting requirements that will impact your business. You may be required to file a new tax form this month. Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, is required for each full-time employee. The form discloses information on the group health insurance coverage you provide.…

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