IRS issues guidance on medical savings account definition of high-deductible health plans
Article Abstract:
The IRS has issued Revenue ruling 97-20 to clarify the deductibility level requirements for high-deductible health insurance under IRC section 220. Individuals establishing medical savings accounts must be covered by high-deductible health insurance. Section 220 identifies deductible levels for individuals and families that will qualify as high. In the ruling, the IRS found that a plan in which coverage was trigger by exceeding either the family deductible of $3,000 or the individual deductible of $1,500 did not qualify as a high-deductible plan.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1997
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IRS publishes coordinated issue paper on retroactive adoption of self-insured accident and health plans
Article Abstract:
The IRS stated in a coordinated issue paper (CIP) that employees must include in their gross income medical expense reimbursements paid and deducted under IRC section 162(a) by their employers. The issue arises when employers create new plans which comply with IRC section 105(b) and reimburse employees for health and accident self-insurance expenses prior to the employer-plan adoption.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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HIPAA and Newborns' and Mothers' Health Protection Act interim regulations issues
Article Abstract:
Three government agencies' joint interim regulations concerning the length of hospital stays required to be covered by health plans for individuals or groups are discussed. The guidance expands upon rules enacted in the Health Insurance Portability and Accountability Act of 1996 and the Newborns' and Mothers' Health Protection Act of 1996.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1998
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- Abstracts: IRS invites comments on clarifying the effect of INDOPCO on current deductibility. IRS rules that severence pay remains currently deductible after INDOPCO
- Abstracts: DOL issues Interpretive Bulletin on distinguishing participant education from investment advice. DOL announces exposure draft of bulletin on when providing investment information to participants in self-directed accounts is investment advice
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- Abstracts: Shopper's guide to time and billing software. An overview of estate planning software. Tax resources galore!