You may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but not easy. Medical expenses can be claimed as a deduction only to the extent your
Given the escalating cost of health care, there may be a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do
Qualified providers of health care, services, and support may receive Provider Relief Fund payments for healthcare-related expenses or lost revenues due to coronavirus. These distributions do not need to be repaid to the US government, assuming providers comply with
The Provider Relief Fund Reporting Portal is now open until September 30, 2021. Register, complete and submit your report now, or continue reading for instructions on how to use the portal. Having trouble? The portal is only compatible with the most current
Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want. The premiums can be expensive, especially if you’re married and both you and
On June 11, 2021, the Department of Health and Human Services (HHS) released their final program reporting requirements and associated reporting deadlines. Update: The PRF Reporting Portal is now open for recipients who are required to report during Reporting Period 1. PRF recipients
On June 11, 2021, the Department of Health and Human Services (HHS) released their final program reporting requirements and associated reporting deadlines. Below are a couple FAQs: When will I be able to begin reporting on the use of
On June 11, 2021, the Department of Health and Human Services (HHS) released their final program reporting requirements and associated reporting deadlines. Somerset will be fully reviewing and gathering additional information from HHS in the coming weeks as to
New Provider Relief Fund reporting requirements were issued on January 15, 2021 in accordance with the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. The Department of Health and Human Services (HHS) is currently reviewing this guidance and
Almost 30 organizations are supporting legislation that would ensure Provider Relief Fund assistance is not taxable. The coalition sent a letter to Representatives Cindy Axne, D-Iowa, Neal Dunn, R-Fla. and Brian Fitzpatrick, R-Penn., to thank the lawmakers for introducing
All recipients of Provider Relief Fund (PRF) payments must comply with the reporting requirements as set by the Department of Health and Human Services (HHS). Below are some terms and conditions of the Provider Relief Fund: Does HHS intend
All recipients of Provider Relief Fund (PRF) payments must comply with the reporting requirements as set by the Department of Health and Human Services (HHS). At this time you only need to complete the registration. Once further guidance is
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