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Starting July 1, Covered California for Small Business (CCSB) is offering new Blue Shield plans, providing more options for enrollees. These plans include the Access+ HMO Network with Platinum, Gold, and Silver metal tier options, as well as the Bronze Trio HMO 7000/70. The two most popular Blue Shield High Deductible Health Plans (HDHP), Silver Full PPO Savings 2300/25% and Bronze Full PPO Savings 7000 plans, are also now available.
All of these plans offer benefits such as Wellvolution, Teladoc Mental Health, Nurse Help 24/7, LifeReferrals 24/7, and the Blue Card program for when members are outside of California.
For assistance, please contact our Quotes team at quotes@claremontcompanies.com or 800.696.4543.
Login To PrismAn FTE is a full-time equivalent employee. For purposes of the tax credit, a full-time employee is one that works on average 40 hours per week or 2,080 hours per year. So for example two 20-hour/week employees = 1 FTE. To calculate the number of FTE’s, add up all hours worked (max hours/employee is 2,080, even if they worked OT) and divide by 2,080. If the result is a fraction, then round down to the nearest whole number.
All employees, past and current that worked during the year should be included in the calculation.
The credit for tax-exempt organizations is actually a refund on quarterly payments the nonprofit has made to the IRS for income tax withholdings or Medicare withholdings from employee wages. The tax credit can be claimed against three of the payroll taxes that non-profits regularly send into the IRS: the employer and employee share (combined total of 2.9%) of Medicare withholding, and the federal income taxes withheld by the employer on behalf of the employee. Employees will continue to get credit for their withheld income tax payments.
The “controlled group” concept applies when calculating FTE’s and average wages. Generally, if the same five or fewer individuals own 80% or more of the companies, then the FTE’s and average wages must be aggregated.
Interesting guidelines from the IRS on Seasonal Workers. Provided the worker is employed less than 120 days, they are not considered employees for purposes of the tax credit and don’t need to be included in the FTE and average wage calculations. However, if the employer paid for their healthcare coverage while they were employed, the employer can add premiums paid for their coverage to the total premiums paid when calculating the tax credit.
Whether they took the tax credit in past years will NOT impact the amount or ability to take the tax credit this year. If they took the tax credit last year (2013), they may not realize that to take the credit again in 2014, they will HAVE to be in a SHOP plan. That was not a requirement in 2013, so this is a change they need to be aware of.
Yes. Employees do not include independent contractors (including sole proprietors), partners in a partnership, shareholders owning more than 2% of an S-corp, and any owners of more than 5% of other businesses. Employees also do not include family members of the owners and partners. Family members include a child (or descendent of a child); a sibling or step-sibling; a parent (or ancestor of a parent); a step-parent; a niece or nephew; an aunt or uncle; and in-laws. A spouse of any of these family members is also considered a family member.
Two-consecutive taxable years beginning in 2014 or later, for which the eligible small employer files an income tax return with an attached Form 8941. If the small business took the tax credit in the 2013 tax year or earlier, that does not count as part of the two-consecutive tax years.
No, the tax credit must be taken in two-consecutive taxable years. If the employer takes the credit in 2014, and does not take the credit again in 2015, they lose the ability to take the credit again in future years.
If the couple’s household income for the taxable year is below 138% of the federal poverty level, which it probably will be if they have no income, they may be eligible for Medi-Cal if they also meet the other eligibility requirements.
See pages 8-12 in the Eligibility for Individuals and Families participant guide.
If the couple is eligible for Medi-Cal they will not be able to receive premium assistance or a cost-sharing reduction through Covered California. However, they can buy a Covered California plan at full cost.