CINCINNATI–(BUSINESS WIRE)–ClaimLinx recently published a timely new book entitled, “How to Beat Obamacare.” The book briefly covers the most important parts of the Patient Protection and Affordable Care Act signed into law in 2010 by President Obama. It gives individuals and employers a framework for making smart choices in the new healthcare environment. The book also reveals the secret to saving money on individual health insurance plans for employers.
The authors, Edward A. Lyon, JD CTC, Michael J. McCormick, CPA, ETC, Thomas J. Quigley, Jr. and Christy A. Quigley have over 80 years combined experience in the tax and insurance industry.
In writing the book, Ed Lyon makes it clear that “we’re not here to debate the merits of the law, but we can help by outlining what the law means for you, for your healthcare, and for your taxes.”
Back In 2010, President Obama signed the “Patient Protection and Affordable Care Act” and companion “Health Care and Education Reconciliation Act of 2010.” Together those two acts, better known by Republicans and Democrats alike as “Obamacare,” represent the biggest change in how we finance healthcare since Medicare was created in 1965. They also include some of the most significant tax changes in a generation. Polls show even today most Americans are confused and concerned about how the Affordable Care act directly affects them – what it is and how much it’s going to cost. Michael McCormick adds, “One poll taken in August of 2013, revealed that four out of ten believed the law was repealed, overturned, or were unsure if it was still law.”
Related Post: Breaking Down The Employer Mandate Tax Penalties
The book outlines a plan which takes advantage of a 55-year-old tax law, Internal Revenue Code Section 105b, that allows employers to reimburse their employees for medical costs incurred by themselves, their spouses, and their dependents. This, in turn, lets employers buy less expensive, higher-deductible insurance coverage – then reimburse their employees directly for the difference between the old deductible and the new. Average yearly savings per employee are $2,000. This program is available in all 50 states and can be implemented and administered fully by ClaimLinx consultants.