Patient Protection and Affordable Care Act Tax Credit

Under the Patient Protection and Affordable Care Act, small businesses who provide health insurance may qualify for a credit toward their cost of health insurance.

Click here for a summary of the Act.


Click here for the 3-step worksheet to help you determine if you qualify for the tax credit.

More States Join Lawsuit Against the New Healthcare Law

Eighteen states in total have filed suit to stop the health care bill from being implemented. The charge by the states filing the suit is that this law is an unprecedented and unconstitutional expansion of the power of the federal government.

Read the full Reuters article here.

Ameritas Dental Network Expanded

One of the many dental insurers IFS represents, Ameritas Dental, has recently expanded its national PPO network of participating dentists. In fact for Delaware clients, their panel of dentists increased 27% - they now have 33 participating providers. Ameritas members will now have more choices. Most Ameritas plans marketed by IFS still give you complete freedom to use any dentist you want.

Extending COBRA Subsidy a Third Time?

Today is March 31st and this is not an early April Fool’s joke! Congress has gone on a two-week recess and did not approve extending the American Recovery and Reinvestment Act of 2009 (ARRA) COBRA Subsidy. Therefore, employees laid off after March 31st will not be eligible for the 65% government subsidy for COBRA premiums.

However, most experts agree that Congress will likely extend the COBRA subsidy. They have already extended this twice before. If it is extended, it will in all likelihood be retroactive to April 1st.

Unfortunately we will have to wait until at least April 12th when Congress is back in session for an official answer.

How Will Healthcare Reform Affect You and Your Business?

IFS has prepared a timeline for what can be expected under the current version of the Health Care bill that was signed into law March 23, 2010. For a breakdown on what to expect click here.

Health Care Reform: How It May Impact You and a Detailed Comparison

With the House of Representatives passing the health reform bill and the President signing it into law many clients and employees are trying to determine how it will impact them. While many details are still being sorted through this is what we know if you have health insurance through work.

You will be able to keep your current plan, or in 2014 have the ability to purchase insurance through soon to be created state insurance exchanges.

Within 6 months plans will stop setting lifetime limits on coverage and allow children to stay on their parents plan until age 26. Insurance companies will be required to cover children with pre-existing conditions, but will be able to deny adults without prior insurance with pre-existing conditions until 2014.

Insurance companies will be forced to pay a 40% excise tax on high value group plans, but not until 2014.

In 2013 Flex spending accounts will have a reduced maximum of $2500 a year and over-the-counter medicines will be disqualified.

In 2018 those families making over $250,000 will pay more in Medicare payroll taxes and unearned income will be subject to a 3.8% tax.

In the state run exchanges you can buy subsidized coverage if you the employee pay more than 9.5% of your income to get insurance or if your employer's plan covers less than 60% of costs.

If you qualify for a subsidy and buy a plan that covers abortion you will pay a separate premium.

If your income for a family of four is less than $88,000 and your cost for insurance is between 8 and 9.8% of your income, you can get a voucher from your employer to buy insurance on the exchange.

Finally, most Americans would be required to buy health insurance.

For a comprehensive detailed review of all the provisions in the passed Senate Bill and the changes proposed int he Reconciliation Bill please go to the Kaiser Family Foundation website: http://www.kff.org/healthreform/upload/housesenatebill_final.pdf

A synopsis of a few major changes are outlined by Reuters here: http://www.insurancejournal.com/news/national/2010/03/19/108294.htm

Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.

Temporary Extension Act of 2010 Extends the ARRA COBRA Subsidy

For those clients that are required to offer COBRA you may have not yet heard, Congress has agreed to extend the 65% COBRA subsidy to employees who are involuntarily terminated through March 31, 2010. In addition, the below notice highlights other changes including new penalties for non-compliance and a second election period for certain individuals.

Click on the link below for details from our preferred COBRA administrator Ameriflex.

For those clients currently administering COBRA yourself you may want to call IFS about using Ameriflex instead. Our clients receive a discounted rate from Ameriflex and we take no commission on this product - saving you money !


http://trustifs.com/breaking/ben_breaking_news_03092010.html