Besides seeing some tax savings in your monthly bill to the government, many businesses could also see additional impact in some potentially unforeseen areas in the coming year, thanks to the new tax reform bill passed by Congress and approved by President Trump.
Among the changes your company could see are changes to your health plan participation, specifically in the way of additional dependents. One thing that hasn’t changed, however, is your company’s responsibility on ACA reporting. The individual mandate is gone, but the more burdensome aspects of the ACA still remain in place.
There are also changes in the way of compensation deductions. But that starts getting into financial advice, and we’re not going to go there. Here’s a good read on what businesses can look forward to in the next year.
If you have concerns about potential rate increases coming your way in your employee benefit plan offerings, give us a call today for a free, no obligation and no-hassle review of what you have available for your employees now, and potential ways to maintain or even increase your benefits while saving your business and your employees money. Call Jason Collum (licensed in Mississippi and Alabama) today at (662) 231-8048.