New Discounts for Jenny Craig Weight Loss Programs

BEST Life’s plans include access to discount programs offered through the BEST Employers Association (“BEA”).  In February, BEA has launched the addition of Jenny Craig to the Gold Star Advantage Discount Program.

Save on Jenny Craig and lose weight!

BEA’s new discount program provides members the option to try a Jenny Craig program free for 30 days*, or to receive 25% off a premium program*. Jenny Craig programs include At Home or In-Centre services, personalized one-on-one consultations, and Jenny’s Cuisine®, a line of food to help participants meet their weight goals. Jenny Craig is a national company and has helped millions of people lose weight.

In addition, members who enroll on our email list will receive monthly health tips or offers from Jenny Craig and other discount programs sent through BEA. These flyers can be used as employee stuffers and serve as a great reminder of the value BEA brings to BEST Life members. To sign up , visit www.beassoc.org/sign-up.html.

For details on the Jenny Craig program visit http://www.beassoc.org/benefits.html.

*Plus the cost of food. Plus the cost of shipping, if applicable. Restrictions apply.

What is Personal Dental?

Personal Dental is BEST Life’s new line of dental plans.  These dental plans are sold through the BEST Employers Association (“BEA”) and are available directly to individuals and families residing in California. 

Personal Dental provides an affordable alternative and are designed for individuals not eligible for coverage on an employer plan. Dependent children who reach the age limit on an employer plan, or for individuals whose COBRA coverage has ended, may all purchase a Personal Dental plan.

Why choose Personal Dental?

As we’ve demonstrated in an earlier article, the cost of dental care can be expensive. Having dental insurance can help save you money and make it affordable for you to go to the dentist.

If you need dental coverage, live in California and are ineligible for group insurance,  Personal Dental may be the alternative you are looking for!

Personal Dental Plan Highlights: 

• A selection of two indemnity plans that increase coverage over 2 to 3 years, and two scheduled reimbursement plans
• No deductibles for preventive care
• $50 yearly deductible for basic and major services
• Coverage for preventive, basic and major services
• Preventive care covered at 100% or 80%, or at a reimbursed amount
• Coverage for sealants, fluoride treatment and space maintainers for children
• Optional access to a PPO network of 18,359 dental offices in California 
• Optional access to a national PPO network for children living outside of California or for those traveling

Where can I purchase Personal Dental?

Visit the Personal Dental website at www.beassoc.org/PersonalDental/ to download a brochure and application.  If you need assistance, visit http://www.beassoc.org/personaldental/directory.html to review a directory of insurance agents.  Just select the one nearest you and he or she will answer any questions you may have.

Why does the cost of health care services vary by zip code?

As you shop around for health care and dental services, you may notice that the cost for these services vary by zip code.  What one dentist would charge in one area for the exact same services, may be more or less what a dentist would charge in another area. What one hospital charges for services may be charged differently by another hospital.

 In this article, we explore why costs vary by zip code.

Demand and the Cost of Living

Location can mean everything. Many reasons can factor into why a residential area can be more expensive compared to others.  Here are just a few:

The cost of living can be more expensive in certain cities compared to others (think Beverly Hills, California vs. San Antonio, Texas).  Providing health or dental care may be more expensive because the property the office is built on is expensive, too. This can work the other way as well.

Population density: there may be more dentists/physicians per resident in well-populated areas, or just a few available in small towns. While health care providers may charge what is reasonable for their residents, they may charge slightly higher if there are too many patients that need their services.

Demand may be high: the health of a town’s population is a major factor. An unhealthy population would require more health care services, which could raise the costs of services for everyone. (Top 5 most expensive health care markets.)

The type of care available in your area. Hospitals and providers who specialize in a specific area of medicine or dentistry may require state-of-the-art technology, may be located in a more expensive area, or may just be high in demand.  It all depends what is available in your area.

What’s your doctor’s specialty? Specialists are health care providers or dentists that focus on treating one specific disease, illness, or region of your body. Services by a specialist may cost more because the treatment that is required may be more involved.  Your treatment may require the use of specialized software or technology, the use of an operating room, surgery, anesthesia, chemotherapy, etc.

General Dentists and General Physicians on the other hand focus on your whole being and on preventive care. This may work for your basic health needs, yet if your health changes, like expecting a baby, there may be a time when your health requires a specialist.

In most cases, your General Dentist or Physician will refer you to a specialist.

How can I save money?

There are several things you can do to save money:

If you can, use a PPO Network Provider. One easy way to save on your out-of-pocket costs is to select a provider in the BEST Life PPO network. Providers who participate in a BEST Life PPO network have agreed to accept a discounted rate for their services. Using a PPO Network Provider can save you anywhere from 5% up to 57%, depending on the service.  Our networks include general practitioners and specialists.

If you are on a medical plan, BEST Life offers a regional network specializing in providing care in your area, and PHCS Healthy Directions for services outside your area. 

Please note that the PHCS Healthy Directions secondary network is not available to PHCS members.  These members already use one of the largest national networks in the country.  PHCS Healthy Directions is available to Utah Beech Street members outside of Utah only.

Dental plan members have the option of using DenteMax (one of the largest national networks in the country) or, depending on their state and plan, a regional network. While BEST Life selects regional networks for the concentrated number of access points offered in a state, there may be situations where the DenteMax network can provide the needed extra access. 

Some areas of a state may have more providers participating in DenteMax’s network; a member who is traveling may need emergency care; or a member’s child is going to college in another state where the regional network is not offered. In all these examples, members can select a DenteMax provider and still save on their out-of-pocket costs.

Regardless of which network you use, always call the network provider and confirm that he or she is in the network before setting up an appointment. 

Always try to use your “In-Network Benefits”. If you are on a medical or dental PPO plan, going in-network will provide you with more coverage.  Your plan may cover a percentage more, you may have a lower co-pay or lower deductible, and in some cases preventive care may be covered 100%. 

Your Certificate of Insurance or Schedule of Benefits will provide you with the benefits and explain how your in-network benefits work.  Or, if you need assistance, you may contact our Customer Service Department and they can explain how your plan works. Contact Customer Service at 1-800-433-0088 or at cs@bestlife.com.

Shop around. The great thing about PPO and Indemnity plans is the freedom they give you to choose any medical or dental provider.  Now that you are aware of why health care costs may vary, shop around when you can.  If you are unhappy with the quality or cost of the service you received, you may select another provider at any time.

Keep in mind that a high price does not always equate to high quality.  Studies have shown that quality is not always the main factor driving costs.  For example, an Urgent Care Unit may not be the same as a hospital, but may provide less expensive and just as effective treatment for certain illnesses. (Read the Dartmouth Institute’s Study: Health Care Spending, Quality and Outcomes: More Isn’t Always Better.)

BEST Life lists a few non-affiliated websites you can go to for pricing (Treatment Cost Calculators), or you can always rely on recommendations from friends or from your favorite dentist or physician.

What are “Ancillary Benefits”?

You may have seen this term while looking for group insurance. “Ancillary Benefits” refer to benefits that are used to supplement group health insurance. These can include the three most sought-after employee benefits: dental, vision and life insurance.

 

Why offer ancillary benefits?

Employees still need oral and vision care.  Offering a health plan is not enough to keep employees healthy.

Research continues to show that dental and vision plans can be effective preventive healthcare tools that may lower medical claims costs in the long run.  Early symptoms of high blood pressure, diabetes and other diseases can be detected in an eye exam before showing up in a physical. (For details read Dr. Ella Faktorovish’s article “How an eye exam can save your life“.

Health insurance also does not provide income protection in the event of a death.  Life insurance can help employees protect their loved ones by providing a monetary benefit to cover the cost of a funeral or a debt.

Group life insurance has a high-perceived value as well!  According to the U.S. Bureau of Labor Statistics, as of 2010, 96 percent of employees who had access to group life insurance took advatange of it.

Ancillary benefits have the advantage of being affordable, too.

Purchasing these benefits at a group level is more affordable than if purchased on an individual basis.  Cost is limited for three reasons:

• As group insurance products, the risk is spread through a large population, which keeps premiums reasonably priced.
• If your business takes advantage of Section 125 of the IRS code, premiums are paid with pre-tax dollars.
• The cost can either be completely covered by the employer or shared with the employees by arranging an employer-employee split.

BEST Life offers a range of affordable ancillary benefits for groups with 2 or more employees enrolling.  Learn more about our group insurance products.

 

How does ancillary employee benefits work?

There are two ways ancillary benefits can be funded: voluntary or employer-contributory.  On employer-contributory ancillary benefits, the employer usually pays 50 to 100 percent of the premiums.  On voluntary plans, the employer may contribute 0 to 49 percent of the premiums.

Learn how offering voluntary plans can make business sense.

Through payroll deduction, employees pay whatever portion of the premiums that the employer does not cover.  Then when an employee uses their benefits, a claim is submitted and benefits are paid directly to the network-contracted provider or to the member (if a network provider is not used).  For life insurance claims, the beneficiary is paid directly (in the event of a death).

There are many reasons why an employer may contribute more or less of the cost of an ancillary benefit. Companies may only cover the full cost of their health plan, and let employees choose to purchase a voluntary dental or vision plan.  Others may find that offering employer-contributory anicllary plans encourages more employees to enroll.

The key is to know what works best for your business.  Discussing your company and employees’ needs with your insurance agent can help determine the best combination of these benefits.

Whichever you decide, offering ancillary benefits can be a win-win proposition:

Benefits to Employers

• Lower employer FICA contributions if your business takes advantage of Section 125 so that employees can use pre-tax dollars for these benefits
• The value of ancillary benefits is high among employees and would enhance the employer’s reputation among employees.
• Offering ancillary benefits make your business more competitive in the employment marketplace.  With them, you can compete with other employers who may already provide these value-added benefits.
• Employers do not pay for voluntary ancillary benefits or can share the cost with employees to keep costs down while  pleasing employees.

Benefits to Employees

• They can use pre-tax dollars to pay for ancillary benefits, thus lowering their taxable income.
• The cost is affordable.  Risk is spread amont a large group of people to keep the premiums reasonable.
• Ancillary products respond to workers’ needs to access important benefits, such as dental insurance, vision insurance and group term life insurance.
• With ancillary dental and vision benefits, workers can get preventative care, not just care when a problem develops.
• They can enjoy the peace of mind and security that comes with ancillary benefits and group insurance.

Sources: http://www.bls.gov/news.release/ebs2.t05.htm; http://www.towerswatson.com/research/3946

Does it make sense to offer voluntary dental, vision or life insurance?

Health plans usually take center stage in employee benefits programs… which is why we are bringing the spotlight to the other, just as important, components of an employee benefits package: voluntary plans.

What are voluntary plans?
Voluntary plans are dental, vision and term life benefits offered at group rates.  They are called “voluntary” because the employer does not cover the full cost of these plans.  Instead employees are given the choice to “voluntarily” cover them at their own expense.

Employers use voluntry plans to offer employees dental, vision and life insurance at group rates, which are lower than what employees would pay if they purchased these plans on an individual basis.

What are the advantages of voluntary plans?
Voluntary plans offer many benefits to both the employee and to the employers:

1. They can fill in the gaps of a limited employee benefits package. If benefits are currently limited to health and dental, adding additional insurance would help address other employee needs. Some health plans may not provide coverage for eye exams or eyewear.  A voluntary vision plan would fill this need and help preserve eyesight.

Employees can purchase more life insurance if a voluntary plan is offered alongside an employer-sponsored life plan.

2. Pre-taxed dollars can be used to pay for these plans. The cost of voluntary plans can be conveniently deducted from paychecks with pre-tax dollars, which can help employees save on their purchase.

3. Offers desirable benefits and gives employees a reason to stick around. Employees value benefits like dental and vision.  According to Taylor Nelson/Sofres Itnersearch*, 80 percent of Americans surveyed felt dental benefits are “very important/somewhat important” for hiring employers to provide employees.

Employers who offer a variety of benefits look more attractive to current employees and to new hires, and this can help encourage company loyalty by increasing employee satisfaction. 

4. Encourages preventive care. Employees who have dental benefits get dental care more compared to those who do not have dental insurance.  According to a 2007 National American Dental Plan (“NADP”) Consumer Survey, people who do not have dental coverage are 2.5 times more likely to not visit their dentist. 

Bad oral hygiene can be very costly as oral infection has been tied to cardiovascular disease, diabetes and others. 

Vision plans are an important prevention tool as well.  Signs of disease like high blood pressure and diabetes may be caught early in an eye exam. 

Early detection from an eye or oral exam can help lower a company’s medical costs in the long term.

5. Protection for families during the event of a death or serious injury. Group term life insurance provides an inexpensive way to have money available during the event of a death.  Most term life policies include Accidental Death and Dismemberment, which provides a benefit in the event of a serious injury or death due to an accident. 

By having both benefits, $15,000 or even $30,000, depending on the plan selected by the employer, can help financially protect a family from a diminished household income… and a peace of mind.

The more employees enroll, the more the group saves. BEST Life is currently offering special rates for voluntary dental and vision plans.  Companies with more than 60% of their employees enrolled in a voluntary dental or vision plan will receive the same rates and waiting periods offered on employer-sponsored plans.  This offer is valid through December 2011 effective dates.

Download our special offer and provide this to your insurance agent.  Or share this article with a friend.

*Taylor Nelson Sofres Intersearch survey, May 2002.

Do you really know your health plan?

Part 2. Other ways to save money on healthcare

Learning how to use your plan can help you save money.

In our last post we talked about how important it is to understand how your plan works. In this post we will offer more tips and tools to help you save on your BEST Life plan.

Please keep in mind that this is for informational purposes only. None of this is intended to replace medical advice. Always consult with your physician before making any lifestyle changes that may affect your health.

Tip #4 Use your Preventive Care Benefits

If you are hesitating to make that appointment for a physical or dental exam, here are some very good reasons to pick up that phone and make that appointment: 

Getting a dental check-up twice a year really pays: The American Dental Hygienists’ Association estimates that every $1 spent on oral preventive care (meaning those cleanings and check-ups at least twice a year) saves $8 to $50 on restorative and emergency procedures.  Crowns and restorative dental work can be very costly.  Getting those check-ups may keep your oral health in check and may delay the need for restorative dental work.

Depending on your plan, preventive care may be 100% covered.  BEST Life’s plans are designed to make preventive care affordable for you and your family.  Many of our dental plans cover cleanings and routine exams every 6 months at 80% to 100% of the cost, depending on your plan. 

If you are on a Grandfathered Health Plan (that was purchased by your organization before April 1, 2010), an annual physical exam, routine screenings and flu shots are covered 100% up to $250 if provided by an in-network provider.  A Co-pay may apply, depending on your plan.

If you are on the new Non-Grandfathered Health Plan (that was purchased by your organization after April 1, 2010), a physical exam, routine screenings, and flu shots are covered 100% — no co-pays, no deductible and no coinsurance.

For exact details on what your plan covers, please refer to your Certificate of Insurance.

 It prevents costly diseases: According to healthcare.gov, an US government website dedicated to explaining the new healthcare reform, diseases like heart disease, cancer and diabetes account for 7 out of 10 deaths among Americans each year and 75% of the nation’s health spending.  All of these are diseases that can be prevented if treated in their early stages. 

A great way to catch a disease in the early stages is by getting an annual exam or dental check-up.

It helps you build a relationship with your doctor and your medical history: Medical history is vital to diagnosing a patient correctly. By getting an annual physical, your doctor can update your medical history and keep tabs on your health.  It also gives you a chance to discuss any health issues you may have.

 Tip #5 If it’s not an emergency, make an appointment with your doctor

Not only is care in an emergency room expensive, most are not equipped to handle routine illnesses.  Before you grab your car keys and head off to the nearest emergency room, ask yourself if you are better off waiting the next day to make an appointment with your doctor: 

 1.      Is it a true emergency?  Doctors in the emergency room first help those with the most life-threatening emergencies.  If your emergency is not as serious, skip the long wait and make an appointment with your doctor instead. 

 2.      Do you need a specialist? Emergency rooms may not be equipped with the right specialists you need.  If you are currently seeing a specialist, or if you have been going to the same doctor for years, make sure you discuss what to do in case of an emergency.  Your doctor may have a better way to address your needs. 

If you cannot reach your doctor, call the emergency room you plan on going to and confirm if they have the care you need.  If they do not, find out if there is another hospital or urgent care center nearby that can help you.

3.      When in doubt, call your doctor’s office. Your doctor may have a nurse on duty you can talk to.  A nurse can help you determine if your symptoms are serious enough to justify a visit to the emergency room.  If your doctor’s office cannot be reached, you can also try calling the emergency room you plan on going to.  Most have a triage nurse who can tell you if you need to come in.

Emergency care can be costly! Some BEST Life PPO health plans require you to pay higher co-pays than you would for a doctor’s visit.  This co-pay is waived if you are admitted to the hospital.  Even if your plan does not have co-pays, your plan will apply your deductible and then coinsurance to care that will be more costly than a routine visit to the doctor’s office. 

So if your illness is not a true emergency, save your money by making an appointment with your doctor. Save the emergency room for life-threatening emergencies.

Tip #6 Take advantage of the Treatment Calculators and other Health Tools we post on our website

We have posted Health Tools on the BEST Life website.  These are online tools, phone apps, treatment calculators and other sources that can help you save money on your health care.

 Here are a couple of highlights:

ICE  This phone app provides first responders access to your key medical information in case of an emergency. It is free and available for download on the iPhone App store.	Medical Billing Advocates of America Find an advocate to negotiate your medical bills or access this organization’s MyMedicalBill program and learn how to save on medical bills.	Healthcare Bluebook Find fair prices for all your healthcare needs for surgery, hospital stays, doctor visits and more.
Capzule PHR Carry your family history, track chronic conditions, store doctor appointments and more, all on your phone. A free version is also available for the iPhone.	PatientsLikeMe Share your experiences on symptoms, treatments and more. This social network has been getting praise for how easy it is to find health-related information.

To see what else is available, visit the BEST Life website and click on “Health Tools”.

Small Business Tax Credits with BEST Life

To all small business owners offering BEST Life insurance and still preparing their taxes:

Did you know the new small business federal tax credit also applies to dental and vision plans[1]?

Small employer groups with medical, dental, vision and other limited scope coverages may qualify for the new federal tax credit[2].

To help you with this, we have provided a short FAQ on the new federal tax credit:

 Who is eligible?
The credit is available to small employers who:

1. Cover at least 50 percent of the single coverage rate for employees in 2010;
2. Have less then, or the equivalent of, 25 full-time employees (an employer with fewer than 50 half-time workers may be eligible, for example);
3. Pay average annual wages below $50,000; and
4. Are for profit or tax-exempt organizations

 How much is the credit?
Right now, the credit is worth up to 35 percent of a company’s premium costs.  This rate will increase to 50 percent (35 percent for tax-exempt employers) in 2014. 

Does this credit phase out?
Yes. The credit phases out gradually for firms with average wages between $25,000 and $50,000 and for firms with the equivalent of between 10 and 25 full-time workers. 

Does my client qualify?
It is easy to find out if your clients qualify.  The IRS has put together a
3-step worksheet with three easy steps to help determine if your clients qualify.

Questions?
To find out more about this credit, consult with your tax advisor or visit the IRS website.

---

[1] Source: Part III – Administrative, Procedural, and Miscellaneous; Section 45R – Tax Credit for Employee Health Insurance Expenses of Small Employers; Notice 2010-44. US Department of Income Revenue Services. http://www.irs.gov/pub/irs-drop/n-10-44.pdf (Accessed February 2011)

[2] BEST Life is not a financial advisor and does not dispense tax and financial advice.  This article is an overview based on the information provided by the IRS website.  It is not intended to substitute legal or compliance advice. We suggest you consult your legal counsel or tax advisor for specific guidance.



New Benefits Added to BEST Life Dental Plans

Last November, new benefits were added to BEST Life’s Dental PPO and IndemnityPlus plans.  These benefits offer you more choices when you need dental work.

In addition, we are in the process of making these benefits available to employer groups who renew with us beginning with December 1st, 2010 renewals.  So, if your group has not renewed yet, stay tuned!  These new benefits are coming.

Which one is right for you? Your dentist will recommend the best choice based on your oral health.

Posterior Composites: Posterior composites are temporary white resin (plastic) fillings that are placed on the back teeth and can be used in place of silver amalgams (silver metal fillings).

Posterior composites are popular because they provide a natural look to smiles.  However, if a large area of the tooth is decayed or used for heavy chewing, your dentist may recommend another material or type of restoration.  White fillings may last as long as amalgams.

This benefit is covered under Basic Services.

 Dental Implants: A dental implant is a natural-looking artificial tooth that is connected to your jawbone with an anchor and a post.  Used to replace a missing tooth or teeth, or to prevent jawbone loss, dental implants can be used in place of a bridge or denture.

Dental implant model without crown

Dental implants can be thought of as a permanent, stable denture that you do not remove.  They stay in your mouth and even require the same dental care as natural teeth.

Because dental implants require the jawbone to grow around the anchor that holds the implant in place, dentists may recommend this type of restoration to patients who have stable bone structure.

Oral surgery may be required and the entire procedure can take anywhere from three months to six months or longer, depending on your oral health and the healing process necessary for preparing the jaw for implantation.

This benefit is covered under Major Services and in lieu of a bridge.

Intravenous Sedation: Intravenous sedation or IV sedation is a type of sedation that is injected into the bloodstream.  This is an alternative to general anesthesia, which is a sedation that is inhaled. Both forms of sedation help reduce anxiety while undergoing oral surgery. 

Intravenous sedation and general anesthesia are not pain killers, and your dentist may use a local anesthetic to numb your mouth before operating. 

Dentists must follow specific guidelines to ensure that patients are sedated safely.  If you have any questions or concerns about their use, please ask your dentist.

Covered as an alternative to general anesthesia, for partial and complete bony impacted extractions only.

Limited oral exam: Dentists perform limited oral examinations to diagnose the cause of a toothache, sore gums, or any other discomfort brought to his or her attention. 

Because limited oral exams focus on just one major concern, these are documented separately from a complete oral examination that is provided at a routine office visit. 

Covered as a basic service, once per 6 months.

Periodontal exam: A follow-up exam that ensures periodontal treatment is healing appropriately.  Included with periodontics, not in addition to a routine oral exam.

Dental benefits may vary by plan. For complete details, please refer to your BEST Life Certificate of Insurance for benefits and exclusions and limitations.  For questions, contact BEST Life’s Customer Service at 1-800-433-0088 or via email at cs@bestlife.com.

Sources: American Dental Association (ADA). “Oral Health Topics: Implants”, www.ada.org/2966.aspz?currentTab=1, October 29, 2010. American Dental Association (ADA). “Oral Health Topics: Amalgam (Dental Filling Options)”, www.ada.org/3094.aspx?currentTab=1, October 29, 2010. American Dental Association (ADA). “Oral Health Topics: Anesthesia & Sedation”, www.ada.org/2946.aspx?currentTab=1, January 19, 2011. ToothIQ. “Limited Oral Exam”, http://toothiq.com/dental-procedures-services-treatment-codes/dental-exam-limited-oral-problem-focused.html.

Important Changes Effective 10/1/10

This posting is to keep you up-to-date on the implementation of health care reform required by the Patient Protection and Affordable Care Act (“PPACA”) and other changes that went into effect as of October 1, 2010.

New dental and vision dependent age limits.  As of October 1, 2010, married and unmarried dependents up to age 26 are now eligible for coverage, regardless of student status.  Any groups starting with October 1, 2010 effective dates may include these dependents at open enrollment.

The new dependent age limits will apply to in-force groups upon renewal, or can be applied upon the employer’s request.  Employees will be given a 30-day period to enroll their dependents.  In-force groups have been notified of this option at the beginning of this month, and a copy of the notice has been sent to their brokers.

Updated medical benefit summaries now available. Grandfathered and Non-Grandfathered benefit summaries are now available upon request.  To request one, please contact Customer Service by calling 800.433.008 or via email at cs@bestlife.com.

New Small Business Federal Tax Credit

Did you know the new small business federal tax credit also applies to dental and vision plans¹?

Small employer groups with medical, dental, vision and other limited scope coverages may qualify for the new federal tax credit. This also provides the perfect opportunity for your small business to add dental or vision benefits to your employee benefits program². 

To find out what plans BEST Life has to offer, visit www.bestlife.com/groupinsurance.html.

To help you with this, we have provided a short FAQ on the new federal tax credit:

Who is eligible?

The credit is available to small employers who

• Cover at least 50 percent of the single coverage rate for employees in 2010;
• Have less then, or the equivalent of, 25 full-time employees (an employer with fewer than 50 half-time workers may be eligible, for example);
• Pay average annual wages below $50,000; and
• Are for profit or tax-exempt organizations.

How much is the credit?

Right now, the credit is worth up to 35 percent of a company’s premium costs. This rate will increase to 50 percent (35 percent for tax-exempt employers) in 2014.

Does this credit phase out?

Yes. The credit phases out gradually for firms with average wages between $25,000 and $50,000 and for firms with the equivalent of between 10 and 25 full-time workers.

Does my business qualify?

It is easy to find out if your business qualifies. The IRS has put together a 3-step worksheet with three easy steps.

Questions?

To find out more about this credit, consult with your tax advisor or visit the IRS website.

^{1 Source: Part III – Administrative, Procedural, and Miscellaneous; Section 45R – Tax Credit for Employee Health Insurance Expenses of Small Employers; Notice 2010-44. US Department of Income Revenue Services. http://www.irs.gov/pub/irs-drop/n-10-44.pdf (Accessed July 2010)}

2 BEST Life is not a financial advisor and does not dispense tax and financial advice. This article is an overview based on the information provided by the IRS website. It is not intended to substitute legal or compliance advice. We suggest you consult your legal counsel or tax advisor for specific guidance.