jump to navigation

IRS Increased Optional Standard Mileage Rate June 29, 2011

Posted by solutionsinsuranceservices in Uncategorized.
add a comment

IR-2011-69, June 23, 2011

WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes.

The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, as set forth in Revenue Procedure 2010-51.

In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.

“This year’s increased gas prices are having a major impact on individual Americans. The IRS is adjusting the standard mileage rates to better reflect the recent increase in gas prices,” said IRS Commissioner Doug Shulman. “We are taking this step so the reimbursement rate will be fair to taxpayers.”

While gasoline is a significant factor in the mileage figure, other items enter into the calculation of mileage rates, such as depreciation and insurance and other fixed and variable costs.

The optional business standard mileage rate is used to compute the deductible costs of operating an automobile for business use in lieu of tracking actual costs. This rate is also used as a benchmark by the federal government and many businesses to reimburse their employees for mileage.

The new six-month rate for computing deductible medical or moving expenses will also increase by 4.5 cents to 23.5 cents a mile, up from 19 cents for the first six months of 2011. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

Mileage Rate Changes

Purpose

Rates 1/1 through 6/30/11 

  Rates 7/1 through 12/31/11 

Business

51

55.5

  Medical/Moving    

19

23.5

Charitable

14

14

Reduced Rates Available for HumanaOne Major Medical plans in 8 FL counties June 27, 2011

Posted by solutionsinsuranceservices in Health Insurance, Individual Insurance.
Tags: , , , ,
add a comment

Beginning June 25th National Point of Service-Open Access (NPOS) will replace the Humana/ChoiceCare offering for HumanaOne Enhanced, Copay, Health Savings Account (HSA), and Value plans, giving members a reduction in premiums compared to rates at the beginning of the year in three markets that include eight southern and central Florida counties:

  • Orlando market: over 10% savings
  • Ft. Lauderdale/North Miami market: over 7% savings
  • Indian River market: 6% savings

NPOS-Open Access offering benefits:

    • Plan members who travel have access to participating providers coast to coast
    • Network stability with a broad range of provider choices available: more than 600,000 providers and 3,527 hospitals in 50 states including District of Columbia and Puerto Rico.
    • Easy access to daily updates of provider information on Physician Finder Plus
    • NPOS-Open Access is not linked with an association
Obtain online quotes here >>>>>http://bit.ly/jg8deT

New HumanaOne Dental Plan Available July 1st in Florida and Texas June 16, 2011

Posted by solutionsinsuranceservices in Individual Insurance.
Tags: ,
add a comment
$12.99 for one person, $23.78 for two, $33.37 for three, $42.95 for four and $51.36 for a family of 5 or more. No Waiting Periods, 100% coverage for exams, cleaning and x-rays plus lots more.
Contact us for full details and an application. 800-928-7449
http://dl.dropbox.com/u/24072738/Misc%20Postings/Brochure.pdf

HHS TO REDUCE PREMIUMS FOR PCIP June 1, 2011

Posted by solutionsinsuranceservices in Health Insurance, Individual Insurance.
add a comment

The U.S. Department of Health and Human Services (HHS) announced new steps to reduce premiums and make it easier for Americans to enroll in the Pre-Existing Condition Insurance Plan. Premiums for the Federally-administered Pre-Existing Condition Insurance Plan (PCIP) will drop as much as 40 percent in 18 States, and eligibility standards will be eased in 23 States and the District of Columbia to ensure more Americans with pre-existing conditions have access to affordable health insurance. The Pre-Existing Condition Insurance Plan was created under the Affordable Care Act and serves as a bridge to 2014 when insurers will no longer be allowed to deny coverage to people with any pre-existing condition, like cancer, diabetes, and asthma.

If you would like further information, you can review the full article here: http://www.hhs.gov/news/press/2011pres/05/20110531b.html or you can contact us at info@solutionsinsuranceservices.com.