Jul
16The Supplemental Nutrition Assistance Program (SNAP – formerly the federal Food Stamp Program) is one of the most utilized social welfare programs in the United States. The United States Department of Agriculture reports that 40.3 million Americans relied on SNAP in fiscal year 2010. Recipients purchase food using a government provided and funded Electronic Benefit Transfer card (EBT). The card works like a debit card and removes the need for paper food stamps.
Jul
15When a loved one dies, the last thing family members might want to think about is what to do about the assets and debts he left behind. But probate is often a lengthy process, so it might be in your best interest to get started as soon as possible. For example, assets that must be sold may be depreciating and losing value due to market conditions. Some states also provide for living allowances from the estate to immediate relatives, but you can’t apply for this until you’ve opened probate.
First you’ll need to find out if your loved one left any directions as to how she wanted her estate settled.
Jul
15The National Association of Insurance Commissioners (NAIC) is considering alternatives for acquiring exemption of insurance agent and broker compensation from the medical loss ratio (MLR) implementation in addition to the bipartisan bill.
The NAIC Executive Committee reviewed July 12 a report on a bill before Congress (H.R. 1206), introduced by Reps. Mike Rogers (R- Mich.) and John Barrow (D-Ga.), which would remove agent and broker compensation from the MLR calculation. The report, created by the Health Insurance and Managed Care (B) Committee, was recommended to the NAIC Executive Committee by the Professional Health Insurance Advisors (EX) Task Force June 30.
Health insurance agents and brokers have seen some of their commissions drop by as much as 50% since Jan.
Jul
14For workers who can’t find full-time employment or need additional income to support their families, working two jobs can be a temporary or even permanent option. Working two jobs may also open the door to additional tax deductions, which can save you money by reducing your total taxable income. Other tax issues also affect how working two jobs can impact your finances.
If you travel between jobs in two different cities, you can take deduct the cost of your travel expenses from your taxable income.
Jul
13Cigna is leaving Philadelphia, moving its headquarters to Bloomfield, Conn., where it was enticed with $50 million in state economic benefits.
The company’s ties to Philadelphia, where its headquarters has been located since 1982, date to the 1790s. Making Bloomfield its headquarters “is not expected to materially impact employment or Cigna operations in Philadelphia,” the international health insurer said in a statement.
Speculation about Cigna’s possible move to Connecticut was first reported in the Hartford Courant July 12.
Cigna agreed to add at least 200 jobs in the next two years in Connecticut to earn the $50 million in tax credits from a new Connecticut Department of Economic and Community Development program.
Jul
13Government grants are available for the construction or renovation of banquet halls used for community or public purposes. Several federal agencies sponsor grant programs, awarding grants to cover project costs, including equipment purchases, labor costs and administrative expenses. Some grants do not cover all expenses, and recipients are required to cover some of the project costs with funds from other sources.
Community banquet halls, centers and other facilities used for community services are constructed, renovated and expanded using grants from the U.S.
