Showing posts with label health insurance. Show all posts
Insurance: What the Self-employed Should Know
Self-employment can be
liberating but it does have its downsides. One of these is the lack
of health benefits. Thankfully, the Affordable Care Act allows for
entrepreneurs to acquire NJ health insurance plans much more easily–
here’s what you need to know about it:
Mandatory Health Coverage
One of the most prominent
provisions of the ACA, also commonly called Obamacare, is quite
simple: affordable (and mandatory) health insurance coverage for
every American. This provision gives employers the responsibility of
getting insurance for their workers– all taxpayers should have at
least minimal coverage by this year, otherwise the IRS might end up
penalizing offenders. For this year, the tax penalty will either be
1% of income or $95.00, whichever is greater.
No more Coverage Denial
Insurance providers are no
longer allowed to deny coverage to anyone with a preexisting
condition as part of attaining their primary goal– this is great
news for the self-employed who would otherwise have to pay the IRS
fine. Moreover, you can no longer be charged with higher rates based
on your race or gender, nor can your insurance provider hold your
claim back the moment you get sick. You can also obtain tax credits
from your insurance.
Look for a reliable provider
to gain these benefits. Many New Jersey health insurance providers
will be more than willing to help you get the best coverage you can
afford.
Sunday, November 23, 2014
Posted by Unknown
Provide Health Insurance to Get Tax Credits
Enrolling your employees in
a small
business health insurance plan
does more than just help them stay healthy. The IRS can actually give
you tax credits for doing it .
Eligibility
According to the IRS, a
small employer is eligible if he has fewer than 25 workers employed
full-time or a mix between full-time and part-time; furthermore,
their average annual wages should not exceed $50,000. The employer
should also pay uniform percentage for all employees equal to or more
than 50% of the insurance coverage’s premium cost. Tax-exempt
organizations falling under these factors may also qualify.
Saturday, November 15, 2014
Posted by Unknown
Words Can Hurt Your Business
As a tech firm, you expect
your staff to be proficient in coding languages like JavaScript, C++,
and Objective C. Like any business, though, you also deal with a more
universal language: English.
That’s right, regardless
of industry, strong communication skills is a must not just in
keeping your employees informed of project requirements, but also in
getting the word out about your products and services.
Unfortunately, words can
also get you in trouble. For instance, if you say that a competitor’s
software has security vulnerabilities, they may very well sue you for
defamation, especially if they believe your claim to be false.
Basically, defamation is
when someone makes an incorrect statement about another party that
results in their suffering. In the case mentioned above, your
allegation might deter people from buying said software, which may
ultimately cause the competing firm’s stock price to fall.
If your defamatory
statement
is spoken or oral, you will be slapped with a slander case. If it is
written down, like a press release, news item, or even a blog post,
you’ll be facing a libel suit.
Of course, legal proceedings
are very expensive, and if your company happens to be a startup, the
legal costs may cause it to go under. So aside from getting health
insurance for your employees, be sure to get general liability
insurance as well, since it also covers litigation expenses
associated with defamation lawsuits.
Thursday, October 23, 2014
Posted by Unknown
A Need for Professional Liability Insurance
When it comes to insurance,
businesses have a lot more to worry about than just health insurance.
Professional liability insurance, for instance, aims to protect
people (and businesses) from costly lawsuits relating to the
performance of their professional responsibilities. Common examples
of these are malpractice insurance for doctors and lawyers.
Cases
Malpractice or negligence is
just one aspect of the liabilities insurance. Customers or clients
could file a lawsuit against companies for a variety of reasons, such
as failure to deliver a promised product or service, production and
distribution of inferior or damaged merchandise, errors in judgment
calls, and many others.
Every Lawsuit Counts
Many professionals believe
that since malpractice lawsuits essentially have low probabilities of
succeeding, they can do away with professional liability insurance.
However, the fact is, the moment your business is summoned to appear
in court, the costs are already flowing out of your pocket, something
that could take a huge toll on your revenues.
Claims-Based
Know that most liability
insurance offered by firms involve claims-based coverage. This means
that only lawsuits made and reported during the period of your policy
will be reviewed. If there are previous claims that you want covered,
look for a retroactivity coverage. If you’re retired but you’re
still concerned about lawsuits made relating to your previous
services, look for extended coverage.
Tuesday, September 23, 2014
Posted by Unknown
Why You May Need Commercial Car Insurance
Commercial
car insurance
isn’t just for large fleets anymore. For some small and medium
enterprise (SME) owners, this type of insurance may just be what the
doctor ordered.
If
you have a car insurance policy, you may believe that you’re
covered for when you use your vehicle for work. When time comes to
file a claim, however, this belief may just amount to losses. To
avoid facing this difficult situation, have your vehicle covered by a
commercial car insurance policy ASAP.
Tuesday, July 22, 2014
Posted by Unknown
