Tag: health care reform

  • Don’t worry…we’re going to fix it now

    April 20, 2018

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    Well, now the concerns are over.  Jamie Dimon JP Morgan, Jeff Bezos from Amazon and Warren Buffet from Berkshire Hathaway have all teamed up to solve our nation’s health care problems.  There are no details at this point, of course, but they say they plan to hold down costs by bringing “their scale and complementary expertise to this long term effort”  They will create an independent company “free from profit making incentives and constraints” to focus on technology solutions”  This is great, except for the fact that technology is only one part of the problem (but definitely worth fixing) and that the scale these companies bring will really only benefit a narrow slice of consumers – their companies.  By the way, Steve Case of AOL tried this years ago and failed miserably, but who remembers Steve Case any more?

  • It ain’t over til it’s over – the mandates may live on in states

    March 20, 2018

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    Insurance carriers are dismayed  that the individual mandate is being repealed for the simple reason that the ability of individuals to opt out of coverage will cause a negative spiral in health care costs, as the pool of covered people devolve into those who are more in need of services.  Some states, however, including California, are fighting back and considering a state mandated mandate. We shall see.

  • 2018 W-4 Forms Won’t Be Released Until Late February | CA Employee Benefit Brokers

    February 14, 2018

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    If you’ve been getting questions from your employees about completing new 2018 W-4 forms to take advantage of the tax reform rules, we’ve finally received some answers. You can continue to rely on the current W-4 forms for now until the new 2018 form is released in late February.

    The January 29th Internal Revenue Service (IRS) Notice 2018-14 provides additional guidance on the income withholding rules that were changed under the recently passed Tax Cuts and Jobs Act. The guidance:

    • Extends the effective period of Forms W-4 furnished to claim exemption from withholding for 2017 until February 28, 2018.
    • Permits employees to claim exemption from withholding for 2018 by temporarily using the 2017 Form W-4. This procedure will expire 30 days after the 2018 Form W-4 is released.
    • States that employees experiencing a change in status that causes a reduction in the number of withholding exemptions are not required to furnish employers with new withholding certificates until 30 days after the 2018 Form W-4 is released.
    • Provides that employees who have a reduction in the number of withholding allowances solely due to changes made by the Tax Cuts and Jobs Act are not required to furnish employers with new withholding certificates during 2018. However, employees may choose to update their withholding at any time in response to the act. Employees who choose to update their withholding may use the 2017 Form W-4 instead of the 2018 Form W-4 to report changes in withholding allowances until 30 days after the 2018 Form W-4 is released.
    • Confirms that the optional withholding rate on supplemental wage payments is 22 percent for 2018 through 2025.
    • Specifies that, for 2018, withholding under IRC 3405(a)(4) on periodic payments when no withholding certificate is in effect will be based on treating the payee as a married individual claiming three withholding allowances.

    In addition to the guidance, the IRS also released a new Publication 15, (Circular E), Employer Tax Guide, for 2018. Publication 15 includes the 2018 withholding tables and explains an employer’s tax responsibilities, such as withholding, depositing, reporting, paying, and correcting employment taxes.

    ThinkHR will continue to follow developments in this area and report on the availability of the new 2018 W-4 Form and other IRS guidance as it becomes available.

    By Rick Montgomery

    Originally published by www.ThinkHR.com

  • Don’t worry…we’re going to fix it now

    April 20, 2018

    Tags: , , , , , , , , , , , , , ,

    Well, now the concerns are over.  Jamie Dimon JP Morgan, Jeff Bezos from Amazon and Warren Buffet from Berkshire Hathaway have all teamed up to solve our nation’s health care problems.  There are no details at this point, of course, but they say they plan to hold down costs by bringing “their scale and complementary expertise to this long term effort”  They will create an independent company “free from profit making incentives and constraints” to focus on technology solutions”  This is great, except for the fact that technology is only one part of the problem (but definitely worth fixing) and that the scale these companies bring will really only benefit a narrow slice of consumers – their companies.  By the way, Steve Case of AOL tried this years ago and failed miserably, but who remembers Steve Case any more?

  • It ain’t over til it’s over – the mandates may live on in states

    March 20, 2018

    Tags: , , , , , , , , , , ,

    Insurance carriers are dismayed  that the individual mandate is being repealed for the simple reason that the ability of individuals to opt out of coverage will cause a negative spiral in health care costs, as the pool of covered people devolve into those who are more in need of services.  Some states, however, including California, are fighting back and considering a state mandated mandate. We shall see.

  • 2018 W-4 Forms Won’t Be Released Until Late February | CA Employee Benefit Brokers

    February 14, 2018

    Tags: , , , , , , , ,

    If you’ve been getting questions from your employees about completing new 2018 W-4 forms to take advantage of the tax reform rules, we’ve finally received some answers. You can continue to rely on the current W-4 forms for now until the new 2018 form is released in late February.

    The January 29th Internal Revenue Service (IRS) Notice 2018-14 provides additional guidance on the income withholding rules that were changed under the recently passed Tax Cuts and Jobs Act. The guidance:

    • Extends the effective period of Forms W-4 furnished to claim exemption from withholding for 2017 until February 28, 2018.
    • Permits employees to claim exemption from withholding for 2018 by temporarily using the 2017 Form W-4. This procedure will expire 30 days after the 2018 Form W-4 is released.
    • States that employees experiencing a change in status that causes a reduction in the number of withholding exemptions are not required to furnish employers with new withholding certificates until 30 days after the 2018 Form W-4 is released.
    • Provides that employees who have a reduction in the number of withholding allowances solely due to changes made by the Tax Cuts and Jobs Act are not required to furnish employers with new withholding certificates during 2018. However, employees may choose to update their withholding at any time in response to the act. Employees who choose to update their withholding may use the 2017 Form W-4 instead of the 2018 Form W-4 to report changes in withholding allowances until 30 days after the 2018 Form W-4 is released.
    • Confirms that the optional withholding rate on supplemental wage payments is 22 percent for 2018 through 2025.
    • Specifies that, for 2018, withholding under IRC 3405(a)(4) on periodic payments when no withholding certificate is in effect will be based on treating the payee as a married individual claiming three withholding allowances.

    In addition to the guidance, the IRS also released a new Publication 15, (Circular E), Employer Tax Guide, for 2018. Publication 15 includes the 2018 withholding tables and explains an employer’s tax responsibilities, such as withholding, depositing, reporting, paying, and correcting employment taxes.

    ThinkHR will continue to follow developments in this area and report on the availability of the new 2018 W-4 Form and other IRS guidance as it becomes available.

    By Rick Montgomery

    Originally published by www.ThinkHR.com

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