The Department of Labor is looking at company health plans and how they comply with the Affordable Care Act (popularly known as Obamacare). Its health plan audit letter has been expanded to cover wellness programs, dependent coverage up to age 26, and to look at individuals whose health care was rescinded and why.

More companies are expected to self-insure; this option would exempt the company from offering coverage of 10 important but expensive items, including hospitalization, prescription drugs, maternity care and preventive services. If the companies follow this route, they will need stop-loss insurance to help them pay for extra-high-cost claims. This insurance generally carries very large deductibles, ranging from $100,000 to $1 million. Where this coverage becomes too expensive, the companies have the option to buy health coverage for their employees through state insurance exchanges.

For nearly 30 years, Mike Nickerson has owned and managed a small, full-service accounting practice in the Midcoast. He holds a bachelor's degree in accounting from University of Southern Main and a master's degree in financial planning from Bentley University.

He is a past board member and president of the Maine Society of Certified Public Accountants and currently serves on the Maine Board of Accountancy.

An aged rock musician, Nickerson now finds musical enjoyment playing upright and electric bass in a variety of bands spanning folk to jazz music genres. He and his wife have three grown children, and they enjoy their free time hiking, kayaking, golfing, bicycling and motorcycling.

http://www.nickersonpa.com/