Save up to 35% on premium costs!

New tax credit can help you continue to offer valuable health coverage to your employees!

Good news! You may be one of the many small businesses that now qualify for a special tax credit because you provide employee health insurance. The tax credit is a great incentive to help you start or continue to offer and pay for coverage.

See if you qualify. Tax credits of up to 35% of the cost of premiums are available this year and will reach up to 50% in 2014. Start by answering these three simple questions:

1. Do you have less than 25 employees?

2. Do your employees have an average annual salary of less than $50,000?

3. 3 Do you pay at least 50% of the cost of your employee health premiums?

If you answered “yes” to all three questions, you might qualify for a tax credit of up to a 35% of your 2010 premium contributions.

How does it work?

Let’s look at the Clark Family Fish Market example.

Number of full-time employees - 10
Average annual wage - $22,000 per worker
Average employee-only insurance premium - $430 ($5,160 annually)
Employer cost for health insurance at 50% contribution -($2,580 employee) $25,800

2010 tax credit for premium contributions - $9,030 (35% of $25,800)

How much can you save?

By taking advantage of our wide range of affordable, flexible health benefit plans and this tax credit, you can help keep your employees happy and healthy while you save money.

We’re here to help. Contact us for more information on how you can improve your bottom line in 2010.

Florida and Flood Insurance

The statutory authority to issue flood policies pursuant to the National Flood Insurance Program (NFIP) expired at midnight, Monday May 31, 2010. This lapse in the NFIP statutory authority has an impact on the ability of companies to issue new policies, and process some renewal payments and increase in coverage endorsements. This hiatus is expected to last until at least June 8th.
Until the National Flood Insurance Program (NFIP) is renewed by Congress, each lender has the authority to determine how they will handle the hiatus. In some instances, lenders will close the loans and not require flood insurance for closing since it is currently unavailable. Other lenders will opt to close the loan with a copy of the check and the application since the policy cannot be issued. In some cases, lenders will not close a loan. Contact www.fiorellainsurance.com or call us at 772-283-0003 to learn more.