One provision of the health reform law is that adult children can remain on their parents’ insurance plans. Some of the biggest insurers have said they would keep this provision in place regardless of the Supreme Court’s decision. But without the law, that benefit might be taxable. The law waived a tax provision to ensure that health insurance benefits are not taxed as income. Parents might have to pay income taxes on the benefit and employers could face higher payroll taxes. “Because after all, there would be some 24-year-old kids who are legal dependents, for whom there would be no income tax owed. And then there would be others for whom they’re not legal dependents and so there would be a tax that would be owed,” said James Klein, president of the American Benefits Council. “It would be extraordinarily confusing.”
Here are four strategies for using digital tools to help consumers buy, manage and use the products you sell.
The amyloid detection test could help researchers measure the impact of any treatments tried.
The regulation could let doctors, and insurance company customer service reps, refuse to provide some services.
Sponsored by Fidelity Investments
Get insights into the mindset that’s driving today’s advisors to make a move--and help realize their unique business vision.
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.