Understand the Tax Ins and Outs of Employee Health and Accident Benefits

For businesses of all sizes, the decision to offer health and accident benefits is critical. But it is also the first in a series of decisions that must be made in this area that can affect the taxes of both the business and its employees. In Chapter 9 of CCH’s recently published Business Tax Answer Book, authors Terrence M. Myers and Dorinda D. DeScherer give practitioners an exhaustive overview of the critical questions and answers that arise when businesses offer health and accident benefits to their employees. Topics covered include:
  • Group health coverage
  • Self-insured health plans
  • Archer Medical Savings Accounts
  • Health savings accounts
  • Flexible spending accounts
  • COBRA
  • Legal requirements for health plans
  • Retiree health coverage
  • Health benefit plan procedures.

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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.

Read this article from CCH’s Journal of Taxation of Financial Products.

AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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