We previously discussed the Wisconsin Legislature’s passage of a bill to adopt the federal tax treatment of employer-provided health coverage of non-tax-dependent adult children for Wisconsin state purposes, effective for taxable years beginning on January 1, 2011. Last Friday, November 4th, Governor Scott …
Wisconsin Bill Passed to Conform State Tax Treatment of Coverage of Adult Children
October 28, 2011 Leave a Comment
Although health care reform legislation excluded the value of employer-provided health benefits provided to any employee’s child under the age of 27 at the end of the taxable year (not just tax dependents) effective March 30, 2010, several states did not incorporate that change into state law. As a result, there …
Extension of Minnesota State Tax Conformity With Federal Tax Treatment of Coverage of Adult Children
July 21, 2011 Leave a Comment
As we discussed in an earlier post, in March, Minnesota adopted most federal tax changes made for the 2010 tax year, including the exclusion from income of employer-provided health benefits to non-tax dependent adult children through age 26. Unfortunately, the legislation adopted that change for only the 2010 tax …
Change in Minnesota State Tax Treatment of Coverage of Adult Children
March 31, 2011 Leave a Comment
As discussed in an earlier post, although health care reform legislation excluded the value of employer-provided health benefits provided to any employee’s child under the age of 27 at the end of the taxable year (not just tax dependents) effective March 30, 2010, the 2010 Minnesota state legislature did not …
Top 5 Health Care Reform Issues Employers Should Focus on Today
March 3, 2011 Leave a Comment
It has now been almost a year since health care reform was first enacted. The first year involved many compliance challenges, not the least of which was keeping up with the many pieces of guidance issued by the Department of Labor, Internal Revenue Service and Health and Human Services. But now that the first …
Adult Children and HSAs
December 10, 2010 Leave a Comment
Due to the passage of health care reform, many more “adult children” will now be eligible for coverage under their parents’ group health plans, including high-deductible health plans (HDHPs) coupled with Health Savings Accounts (HSAs). However, just because an adult child is covered under a parent’s HDHP …