Legislative Brief - State Tax Issues for Dependent Coverage

the Current: Legislative Brief Series

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MacCorkle Insurance Service is pleased to provide you with this update - we hope you find the presented topic both interesting and informative. Please look for future editions providing the HR professional with compliance and legislative briefs throughout the year.

State Tax Issues for Dependent Coverage

The Patient Protection and Affordable Care Act (PPACA) requires health plans and issuers that offer dependent coverage to make the coverage available until the adult child reaches the age of 26. When the health care reform law Capitol Building was passed, the federal tax code was also revised to take this new requirement into account. Therefore, for federal tax purposes, the value of employer-provided coverage for these adult children is excluded from the employee's gross income.

Tax issues arise for employees, and for the employers that administer payroll, when the state income tax laws do not match up to the federal laws.

This MacCorkle Insurance Service Legislative Brief describes how to address the tax issues that may impact employer-provided coverage in connection with the health care reform dependent coverage rules.

Click here to read entire brief...

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