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What Employers Need To Know About Supreme Court Ruling

Firm attorney Jeanne E. Helton shared her health care legal insight in a recent Jacksonville Business Journal article regarding the U.S. Supreme Court ruling regarding same-sex marriages.

The article points out that the June 26 Supreme Court ruling in favor of same-sex marriage has legal and financial implications for individuals and businesses.

The decision means that homosexual couples can take advantage of many of the tax and estate planning benefits that historically had only been extended to straight couples.

In addition, for both federal and state tax purposes, companies and employees must apply the same tax status to gay and straight married couples that includes a fair share in a spouse’s pension plan, Social Security benefits, inheritances, and more.

For businesses, employee health care coverage is the area that may see the most change as a result of the Supreme Court ruling.

As Helton stated in the article, “Some larger employers who are self-insured may consider going to a fully insured model………that could mean more business for health insurance companies. I think you’ll start seeing big changes within the next six to 18 months.”

 

 

 

 

 

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