The Medical Association of the State of Alabama's (MASA) health insurance for members will rise 15 percent next year. "We didn't like 15 percent," says Mark Jackson, executive director. "But don't get me wrong, we felt fortunate that we were able to keep it at 15 percent."
You just formed your medical practice in Alabama, and you either chose a professional corporation (a "PC") or an LLC. If you went with a PC, you get to choose between an "S" corporation ("S corp") or a "C" corporation ("C corp") for federal and state tax purposes, both named after the Internal Revenue Code (the "Code") Subchapter that governs their taxation.
HIPAA and the fees for reproducing an individual's medical records may seem like old news but as recently as May 23rd, the Department of Health and Human Services (HHS) added clarification on this very topic.
On August 22, 2016, the Internal Revenue Service released Revenue Procedure 2016-44, which updates conditions under which a management contract will not result in private business use (or "bad use") of property financed with tax-exempt bonds. Compliance with the new safe harbor may be essential to the continued tax-exempt status of related bond issues. Revenue Procedure 2016-44 supersedes its well-known predecessor, Revenue Procedure 97-13.
The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) means that big changes are coming to healthcare reimbursement; changes that will result in some physicians earning less money and others more.
Last year President Obama signed into law the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). MACRA implemented significant changes in how Medicare reimburses doctors.