Do you structure your business as a sole-proprietor, partnership, S or C corporation?
Do you have fewer than twenty employees?
Then our new article makes “must” reading.
Why? Because we’ll explain how new IRS regulations allow you to reimburse Medicare parts B and D to your Medicare-covered employees.
If you want to learn how to comply with the law and avoid painful $100-per-day penalties, take a minute and read my new article titled Tax Tips: How to Reimburse Medicare When You Have Fewer Than 20 Employees.
Three ways our fact-filled article can help you:
- You’ll learn why it’s so important to sign up for Medicare promptly. If you are nearing Medicare age, you can suffer huge Medicare penalties if you sign up for Medicare late. So don’t put it off. You can enroll in Medicare beginning three months before the month during which you turn age 65. (If you have employer insurance coverage, you can delay your Part B without penalty under certain circumstances.) We’ll make everything crystal clear when you read the full article.
- We’ll make you aware of some important rules. Some group insurance plans don’t cover Medicare-eligible employees if the group plan covers fewer than twenty employees. Why? Because when you have fewer than twenty employees, Medicare is the secondary payer and the insurance company is primary. With twenty or more employees, Medicare is the primary payer and the insurance company is in second position. Not understanding how to comply with the law can cost you dearly so be sure to read the full article.
- You’ll learn how to reimburse Medicare. If you offer group insurance coverage to your fewer than twenty-employee workforce, and have one or more of the fewer than twenty employees who are on Medicare, consider this … You may use a health reimbursement account (HRA) or other account-based plan to reimburse Medicare parts B and/or D and Medigap insurance if you satisfy four requirements. You’ll get all the details when you read the full article.