IRS Increasing Mileage Reimbursement Rate
Effective July 1st: If you are an employer who reimburses employees for
mileage, take note that starting July 1, 2022, the reimbursement rate has been increased from 58.5 cents per mile to 62.5 cents per mile due to the challenges of fuel costs. If you are currently utilizing a system that helps track and reimburse mileage, be sure to get your system updated timely to avoid any hiccups of having to go back and recalculate.
Special Enrollment Period for Low-Income Earners
Did you miss the Open Enrollment period for the marketplace during the
busy holiday season? There may be an opportunity for you to get coverage
now as low as $0 a month based on your taxable income.
Below is a chart to help distinguish what low income means. If you and/or your family fall into any of these thresholds, definitely reach out to us so that we can run the numbers and see where you land. These special enrollment periods
(or SEPs) are greatly underutilized and most of my clients are
pleasantly surprised by the outcome.