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In 1982, Blue Shield merged with The Blue Cross Association to form the Blue Cross and Blue Shield Association (BCBS). [ 11 ] Prior to 1986, organizations administering BCBS were tax exempt under 501(c) (4) as social welfare plans.
Taxpayers with taxable income of $100,000 or less don’t have tax brackets, per se. Although these individuals are also taxed on a graduated basis, the tax is a flat amount from the California ...
Blue Shield of California is a mutual benefit corporation and health plan [6] [7] founded in 1939 by the California Medical Association. It is based in Oakland, California, and serves 4.5 million health plan members and more than 65,000 physicians across the state. Blue Shield of California was founded as a not-for-profit organization.
There is an additional 1% tax (the California Mental Health Services Act tax) if your taxable income is more than $1,000,000, which results in a top income tax rate of 13.3% in California which is the highest statewide income tax rate in the United States. [42] The standard deduction is $4,601 for 2020. [43]
The company was founded in 1936 and is based in Chicago, Illinois with a network of offices in the United States. Health Care Service Corporation is the licensee of the Blue Cross and Blue Shield Association for five states. It concentrates its operations in Illinois, Montana, New Mexico, Oklahoma, and Texas.
To prepare for tax season, Denise Lettau, an attorney with over 15 years of experience in the wealth management industry, recommends asking your loved one’s memory care community for the following:
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