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New Florida Minimum Wage May 26, 2011

Posted by solutionsinsuranceservices in Group Insurance, Human Resources, Individual Insurance, SOLUTIONS General.
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Effective June 1, 2011, Florida’s revised minimum wage will be $7.31 per hour for all hours worked in Florida. Employers must pay their employees a wage not less than the amount of the hourly state minimum wage for all hours worked in Florida. The definitions of “employer,” “employee,” and “wage” for state purposes are the same as those established under the federal Fair Labor Standards Act (FLSA). For “tipped employees” meeting eligibility requirements for the tip credit under FLSA, employers must pay a direct hourly wage of $4.29 as of June 1, 2011. More information and a copy of the Florida Minimum Wage poster may be downloaded from the Agency for Workforce Innovation’s website at www.floridajobs.org/workforce/posters.html


Solutions Insurance Services Nominated May 6, 2011

Posted by solutionsinsuranceservices in Health Insurance, Human Resources, Individual Insurance.
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Solutions Insurance Services – Nominated for the Greater Fort Lauderdale Chamber of Commerce 2011 Small Business of the Year.  http://bit.ly/mBZO2A

Here’s What’s Happened At SOLUTIONS January 12, 2011

Posted by solutionsinsuranceservices in COBRA, Events, Group Insurance, Guest Bloggers, Health Insurance, HealthcareReform, Human Resources, Individual Insurance, Legal Issues, SOLUTIONS General, Uncategorized.
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Please excuse us for taking a break from reporting all the news and information you were accustomed to receiving. We found ourselves restructuring the organization and were focused there. WE ARE BACK and looking forward to a renewed purpose in 2011. This may be a slight bit late, but we want to wish everyone a happy, healthy and successful new year and we look forward to bringing you news, events and updates throughout the year.

Florida workers’ comp rate to rise 7.8% – South Florida Business Journal October 16, 2010

Posted by solutionsinsuranceservices in Human Resources.
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Florida workers’ comp rate to rise 7.8% – South Florida Business Journal.

Hiring Incentive to Restore Employment (HIRE) Act March 25, 2010

Posted by solutionsinsuranceservices in Human Resources.
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The HIRE Act was signed into law on March 18th. This law is intended to stimulate new job creation by offering a Section 101 Payroll Tax Exemption to employers.

Between March 19, 2010 and December 31, 2010, all wages for a qualified employee will be exempt from the 6.2% Employer share of Social Security tax. A qualified employee is defined as 1) An employee hired between Feb 3, 2010 and Dec 31, 2010. 2) An employee who prior to beginning employment was previously unemployed or employed less than 40 hours in the prior 60 days and 3) Can’t be related to the employer. The IRS is allowing employers to reduce deposits by the amount of the exemption starting in 2nd Qtr.

An employer can elect out of the exemption and elect to pay the tax. Employees must sign an affidavit under the penalties and perjury law. A sample affidavit form will be available on the IRS WEB site for employers to use – it will be retained by employers and not submitted to the IRS.

If a qualified employee is retained for 52 weeks then the company is eligible for an additional tax credit. This is designed to promote retention of the hired employees. To qualify for the additional credit the company must not only retain the employee for 52 weeks but also, in the last 26 weeks of the 52 week retention period, the employee must earn at least 80% of the amount of wages they earned in the first 26 weeks of the 52 week period. The additional credit is the Employer portion of the Social Security tax paid on the qualified employee’s wages with a max of $1000.00. The credit can be taken on the employer’s 2011 Income Tax Return

Clearing Up A COBRA Misconception February 8, 2010

Posted by solutionsinsuranceservices in COBRA, Health Insurance, Human Resources, Individual Insurance.
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We have had several people ask us to do an individual health insurance quote to compare to their COBRA rates. When these people were asked why they were going on COBRA (sometimes it is our recommendation to access the government assistance and elect COBRA), we were told that their employer was going out of business and their insurance plan was ending. We would like to take a moment to clarify COBRA. In order to receive COBRA, there has to be an employer’s plan to base the rates. If the employer either goes out of business and has no group insurance any more, or simply decides that insurance is too expensive and ends the group policy, there is NO offer of COBRA to the former or current employees. If the group plan ends, so does the offer of COBRA. Again, without a group to base the rates, there can’t be an offer of COBRA. In our clients situation, we had to move her and most of her fellow employees to individual plans.

IRS Decreases Business Mileage Rate for 2010 January 7, 2010

Posted by solutionsinsuranceservices in Human Resources.
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The IRS has announced that the business standard mileage rate for transportation expenses paid or incurred beginning January 1, 2010 will be 50 cents per mile down from the 55 cents per mile rate effect during 2009. [Rev. Proc. 2009-54, released 12-3-09; www.irs.gov/pub/irs-drop/rp-09-54.pdf].

The mileage rate may be used to compute the deductible cost of operating a passenger car (also vans, pickups, or panel trucks) for business purposes.  It may also be used by employers that elect to use the “cents-per-mile” valuation method for purposes of determining the amount that needs to be imputed to an employee’s income for personal use of certain company-owned or leased nonluxury vehicles.

In addition, the 2010 standard rate for miles driven for medical or moving purposes will decrease to 16.5 cents per mile, down from the 24 cents per mile rate in effect during 2009.

Finally, the standard mileage rate for operating a passenger car for charitable purposes is set by las and will stay at 14 cents per mile in 2010.

Federal District Court in Maryland dismisses E-Verify Suit August 31, 2009

Posted by solutionsinsuranceservices in Human Resources, Legal Issues.
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A Federal Judge in Maryland dismissed the suit brought by the US Chambers of Commerce. Employers will now have to start using E-Verify September 8th.