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If you are seeking to provide a tax advantaged healthcare reimbursement, such as a QSEHRA, to your household employee, you need to make sure it is ACA compliant. Let's delve into what it takes for a plan to be ACA-compliant and what might not meet those standards.
Topics: eldercare, household employee, nanny agency, senior care, nanny, nanny health insurance, household payroll, senior caregiver health insurance, agency, senior, CPA
Update: 2020 reimbursement maximums are $5,250 ($437.50 monthly) for an individual and $10,600 ($883.33 monthly) for a family.
Update: 2019 reimbursement maximums are $5,150 ($429.16 monthly) for an individual and $10,450 ($870.83 monthly) for a family.
Update: 2018 reimbursement maximums are $5,050 ($420.83 monthly) for an individual and $10,200 ($850 monthly) for a family.
Helping your nanny, caregiver or other household employee pay for health insurance on a tax free basis was complicated by provisions of the Affordable Care Act in 2013. In December 2016 the 21st Century Cures Act was enacted, making it much easier for household employers as well as other small employers to provide tax free health benefits to household employees.
Topics: nanny health insurance, employee health insurance, senior caregiver health insurance
On Tuesday, December 13, 2016 President Obama signed into law the 21st Century Cures Act. Tucked away inside the 1000 page legislation is a provision that allows employers to use Health Reimbursement Arrangements to compensate employees who buy their own insurance.
Topics: nanny health insurance, employee health insurance, senior caregiver health insurance