Filed under: Combs & Company, Combs & Company Blog, Covid-19, Important Notice, Insurance 101, Vlog | Tags: Combs & Company, Coronavirus, Covid-19, Stay Safe, Vlog
Just some quick information on symptoms of Covid-19 and what to do if you think you may be infected.
Filed under: CARES Act, Combs & Company, Covid-19, Disaster Relief, Health Insurance, Insurance 101 | Tags: CARES Act, Chelsea Whalley, Combs & Company, Covid-19, Disaster Relief, J Donovan Financial
Curious how the CARES Act will impact Employer Health Plans? Check out this great video from colleague, Chelsea Whalley of J Donovan Financial.
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) into law to provide $2.2 trillion in federal funding to address the COVID-19 crisis. The CARES Act makes a variety of changes affecting health plans. These changes include:
1. Expanding the types of coronavirus testing that all health plans and health insurance issuers must cover without cost-sharing (such as deductibles, copayments or coinsurance) or prior authorization
2. Accelerating the process that will require health plans and issuers to cover preventive services and vaccines related to COVID-19
3. Allowing telehealth and other remote care services to be covered under a high deductible health plan (HDHP) before the deductible is met, without affecting the HDHP’s compatibility with health savings accounts (HSAs) (applicable for HDHP plan years beginning on or before Dec. 31, 2021)
4. Treating over-the-counter (OTC) medications, along with menstrual care products, as qualified medical expenses that may be paid for using HSAs or other tax-advantaged arrangements, such as health flexible spending accounts (FSAs) or health reimbursement arrangements (HRAs)
Filed under: Combs & Company, Covid-19, Health Insurance, Insurance 101, Insurance Education, Vlog | Tags: Chelsea Whalley, Combs & Company, Covid-19, Insurance 101, J Donovan Financial
Here are 4 quick ways to keep your health insurance coverage by our Combs & Company friend, Chelsea Whalley of J Donovan Financial.
This is for employees who have lost coverage through an Employer Sponsored Plan.
1) COBRA- Contact your Benefits Administrator. Remember, there is no employer contribution so this is an expensive option.
2) Spouse Plan- This Qualifying Life Event (loss of coverage) creates a window of opportunity to join your spouse’s health plan. Contact your spouse’s Benefits Administrator for pricing.
3) Medicaid- A severe loss of income may qualify you for Medicaid at http://www.medicaid.gov
4) Healthcare.gov – The QLE allows you 60 days to enroll in an individual plan on the marketplace.
Filed under: CARES Act, Combs & Company, Covid-19, Disaster Relief, Vlog | Tags: Chelsea Whalley, Combs & Company, Covid-19, Disaster Relief, J Donovan Financial, Vlog
Looking for an easy digestible explanation for how the Paycheck Protection Program (PPP) works? Check out this great video from colleague, Chelsea Whalley of J Donovan Financial.
- Total Loan Value: Lesser of 10 million or 2.5x the average monthly total payroll incurred in the one year period prior to the loan start date.
- Forgivable Portion: 8 weeks from the loan start date used for payroll, interest on mortgage, rent and utilities. At least 75% to payroll.
- Main Point: The FORGIVABLE portion of the loan is tied DIRECTLY to Employees being paid- if you decrease wages or terminate, the forgivability is threatened.
- *This loan is designed specifically to connect employees back to their employers.
- * Loan Application: https://home.treasury.gov/system/file…
- Find Approved Lenders: https://www.sba.gov/funding-programs/…
Filed under: Combs & Company, Covid-19, Motivational | Tags: Convicts.NYC, Covid-19, New York Tough, We Got This
Hey Guys—
Know it’s rough for us here in NY, but we got this. It’s a new week and we got this. Don’t forget that we are New York Tough!
– Combs Crew
Credit: CONVICTS.NYC
Filed under: CARES Act, Combs & Company, Combs & Company Blog, Covid-19, Disaster Relief, Families First Coronavirus Response Act, Feature Friday, FFCRA, Health Insurance, Insurance 101, Insurance Education, Insurance Women, Paid Family Leave, Susan L Combs, Vlog | Tags: Chelsea Whalley, Combs & Company, Coronavirus, Covid-19, J Donovan Financial, Paid Sick Leave Exemptions
Filed under: Combs & Company, Combs & Company Blog, Covid-19, Disaster Relief | Tags: Combs & Company, Coronavirus, Covid-19, McCuster Anselmi Rosen & Carvelli, Michael Futterman, New Jersey Relief
Thanks to our good friend, Michael Futterman, Partner at McCusker, Anselmi, Rosen & Carvelli, P.C.* for the below helpful information for our Jersey clients and friends!
New Jersey’s Economic Development Authority recently approved a $40M program which will provide grants and loans or guarantee private bank loans to small businesses affected by the coronavirus pandemic. The EDA package includes a half dozen programs for New-Jersey based businesses including the following:
- The smallest businesses, those 10 or fewer full-time equivalent employees, can receive grants between $1,000 and $5,000. The grants specifically target companies in retail, personal-care, entertainment, recreation, accommodation, food service, laundry and repair services. In order to receive money, businesses will have to attest that they need this money to tide them over and won’t cut any employees or will make every effort to rehire laid off or furloughed staff.
- The EDA also has set aside $10 million to make loans up to $100,000 each to mid-sized businesses with less than $5 million in annual revenues to help them meet payroll. The 10-year loans would have zero interest for the first five years and the interest rate would be capped at 3 percent for the second half of the loan.
- Two more programs, $15 million in total, will be run through community development financial institutions to make available low-interest loans to small businesses that may not be able to tap into traditional bank borrowing. The NJ Entrepreneur Support Program targets start-ups with less than $5 million in revenue and fewer than 25 employees by providing 80 percent loan guarantees to entrepreneurs.
The $5 million in small business grants will open for applications at 9 a.m. TODAY. Other programs will be out in the coming weeks. Application window opens TODAY at 9am, application here, https://www.njeda.com/pdfs/NJEDA_COVID-19_Economic-Response-Package-Initial-W.
*Attorney Advertising: The foregoing is a summary of the laws discussed above for the purpose of providing a general overview of these laws. These materials are not meant, nor should they be construed, to provide information that is specific to any law(s). The above is not legal advice and you should consult with counsel concerning the applicability of any law to your particular situation.
Filed under: Combs & Company, Covid-19, Feature Friday, Insurance 101, Vlog | Tags: Coronavirus, Covid-19, Feature Friday, Stay Healthy, Vlog
Just some quick tips to stay healthy during the Covid-19 Pandemic!
Filed under: Combs & Company, Covid-19, Disaster Relief, Families First Coronavirus Response Act, FFCRA, Health Insurance, Important Notice, Insurance 101, Paid Family Leave, Susan L Combs, Vlog, Women in Insurance | Tags: CARES Act, Chelsea Whalley, Coronavirus, Covid-19, Disaster Relief, Federal Loan Forgiveness, Federal Loan Forgiveness CARES Act, FMLA, J Donovan Financial
Curious how the forgivable loans work under the CARES Act? Check out this great video from colleague, Chelsea Whalley of J Donovan Financial.
combsandco 