Health Care Reform: New Compensation Deduction Limits for Certain Health Insurance Providers.
July 12, 2010 | By: Editor
Source: Federal Employment Law Articles
The Patient Protection Act and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010, has added a new limitation to the Internal Revenue Code with respect to deductions for compensation expenses. New Section 162(m)(6) provides for a $500,000 annual limit on deductions for compensation paid by “covered health insurance providers” for tax years beginning on or after January 1, 2013. This new provision also applies to compensation paid by these providers that is earned on or after December 31, 2009, but is not paid until January 1, 2013, or later.
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