As part of the Affordable Care Act of 2010, employees who have children under the age of 27 are now permitted, in most cases, to make pre-tax contributions for health care coverage. Employees are eligible for this benefit if they have children who have not reached the age of 27 by the end of 2010 and are added to the employer’s plan.

This new benefit also applies to self-employed individuals who qualify for the self-employed health insurance deduction on their federal income tax return. 

Contact us to see if you qualify, or to get more information regarding restrictions, eligibility requirements or answer to FAQ, visit the IRS website at:

http://www.irs.gov/newsroom/article/0,,id=222814,00.html

Disclaimer: 

These articles are intended to provide resources for the tax and accounting needs of small businesses and individuals. The information contained in this Website is intended to provide general information on matters of interest in the areas of tax and accounting and should not be acted upon in your specific situation without further details and/or professional assistance. Users are encouraged to contact us regarding specific situations.