Monday, July 11, 2011

Secret Health Insurance tax deductions for your Small Business

For those who are self-employed or own a small business, there is a Federal tax deduction for your health insurance. There is also a refundable tax credit for those who are self-employed in Missouri. Contact your CPA for the details or call us at 1-855-GET-SELECT for more money-saving tips..

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1. Prohibit pre-existing condition exclusions for children in all new plans;

2. Temporary high-risk pool for Americans with pre-existing conditions;

3. Insurance companies no longer able to drop sick people;

4. Lower seniors prescription prices by beginning to close the donut hole;

5. Tax credits to small businesses covering employees;

6. Elimination of lifetime and annual benefit limits;
7. Children can stay on parents' coverage until age 26;

8. New plans must cover preventive and immunizations;

9. Consumers will have processes to appeal insurance plan decisions;

10. Rebates to enrollees from insurers with high administrative expenditures and public disclosure of the percent of premiums applied
to overhead costs.