Another COBRA Subsidy Extension ??

Hard to believe Memorial Day weekend is here - so is the expiration of the eligibility for COBRA subsidy provided through the American Recovery and Reinvestment Act (ARRA) - which is currently May 31st. So if you are laid off from work on June first you are not entitled to the 65% subsidy towards your COBRA premium.

But wait.....The House is soon to act on the "American Jobs and Closing Tax Loopholes Act which includes an extension through December 31st, 2010 for those employees involuntarily terminated to be eligible for the 65%, 15 month COBRA premium subsidy. Once through the House the act would move to the Senate for another vote.

Unfortunately it seems unlikely that it will be approved before Congress goes on vacation from May 29th - June 6th 2010.

This should not come as a surprise, but a new report out shows the subsidy has been helpful in helping families maintain health insurance.

View Report

Enjoy the holiday weekend and stay tuned for more updates!

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.

May is Disability Insurance Awareness Month

It is not the most fun thing to think about but it is a fact: disabilities do occur and can affect all of us. Here are some sobering statistics:

Three in 10 workers entering the work force today will become disabled before retiring.
Social Security Administration, Fact Sheet January 31, 2007

One in 7 workers can expect to be disabled for five years or more before retirement.
"Commissioners Disability Table, 1998," Health Insurance Association of America, the New York Times, February 2000

Disability causes nearly 50% of all mortgage foreclosures, 2% are caused by death.
Health Affairs, the Policy Journal of the Health Sphere, 2 February 2005

Close to 90% of disabling accidents and illnesses are not work related.
National Safety Council, Injury Facts 2008 Ed.

The good news is that Disability Insurance is available both on an individual basis and a group basis for companies. Moreover, these coverages are extremely affordable. Call us today and ask to speak to a Benefits Specialist about disability insurance at 302.239.2355

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.