PCORI Filing Deadline Looming
- Policy Or Plan Ending Date in the months of: Jan. 2018 – Sept. 2018
File return no later than: 7/31/2019
Applicable rate: $2.39 - Policy Or Plan Ending Date in the months of: Oct. 2018 – Dec. 2018
File return no later than: 7/31/2019
Applicable rate: $2.45 - Policy Or Plan Ending Date in the months of: Jan. 2019 – Sept. 2019
File return no later than: 7/31/2020
Applicable rate: $2.45
The types of plans that must pay the PCORI Fees by July 31, 2019 include the following
- Health/accident plans
- HRAs with a plan year that began 1/1/2013 that are not an excepted benefit (Employer contribution is greater than $500)
- Health FSAs with a plan year that began 1/1/2013 that are not an IRS excepted benefit (Plan has employer contributions with the maximum reimbursement greater than two times an employee’s salary reduction election or employer contribution is greater than $500)
- Retiree plans
Please Note that the PCORI fee is nearing the end:
The PCORI fee will not be assessed for plan years ending after September 30, 2019. This means that for calendar year plans, the last year for assessment is the 2018 calendar year. For non-calendar year plans that end between January 1, 2019 and September 30, 2019, there were be one last PCORI payment due by July 31, 2020. There will not be any PCORI fee for plan years that end on October 1, 2019 or after.
Budgeting, Discipline and Looking Ahead: Getting Started in Life Planning
Achieving your financial objectives has a lot to do with how well you plan for your family’s future. It’s important to begin this process sooner rather than later because the demands of work and a busy family life can force long-term planning onto your “to-do” list. Being ready for unexpected expenses and having a plan for your children’s futures also shouldn’t be delayed, because by the time you get around to them, you may have other financial commitments and too much debt to start saving.
Savings
Saving is fundamental to financial planning, and it’s still one of the best ways to protect yourself against financial emergencies. Budget carefully, purchase wisely and plan ahead so you’re well-positioned to grow your savings. Bear in mind that saving is about more than preparing for the future; these funds are also there to shield you from the financial damage that emergency home repairs, serious illness or job loss can cause, and from having to rely on credit cards and other high-interest options.
College savings
According to US News & World Report, annual public tuition will cost more than $40,000 by 2030, with a four-year degree totaling an expected $205,000. Those are daunting figures for someone who hasn’t set aside money for a child’s college fund. If you want to help your child achieve a degree so they can get a good job and succeed in life, consider starting a college 529 plan as soon as possible.
Retirement savings
For young couples, retirement is little more than a vague idea, something their grandparents talk about. It’s difficult to feel a sense of urgency when you’re looking at 30 to 40 more years of earning money and building a life. But if you enroll in a retirement plan at work and continue investing in a 401(k) and Roth IRAs, your retirement fund will continue to grow and be there for you when it’s needed.
Life insurance
Purchasing a death benefit for your family is one of the first steps in making sure your loved ones are protected should you die unexpectedly. Joint life insurance policies cover both spouses, but tend to be more expensive and may not be the best option for some families. A 30-year term life policy can be an excellent option for a young family because it’s there for you when it’s most needed (i.e. until the kids are out of college and your mortgage is paid off). That being said, you should consult your insurance agent when choosing a life insurance plan since there are several types of plans and deciding which is best for yourself can be quite difficult. Moreover, ask your agent if he uses something like a life insurance quote engine (https://ilife.tech/life-insurance-quote-engine-for-agents/) that can help him to easily access a transparent database of the highest-rated life insurance plans quickly. If he takes the help of such a technological tool, he could perhaps provide you with a greater selection of plans that can better suit your needs.
Estate planning
Estate planning is something that people often concern themselves with later in life, perhaps when retirement is within reach and estate plans need to be finalized. But there are fundamental aspects of estate planning that require your attention now because they come into play if you or your spouse die unexpectedly or become incapacitated.
When young couples prepare a will, it’s generally so they can name a guardian for their children, but a will also provides for the distribution of money, assets and property. A living will or advance directive, another aspect of estate planning, establishes your wishes concerning end-of-life care. For further information about life planning, consult a professional financial planner or estate planning expert.
When you’re young, life planning tends to be about financial basics, like saving money, establishing retirement and college funds, getting life insurance, and taking care of estate planning basics. Careful budgeting will make it easier to stick to a plan and build the kind of savings and college funds you’ll need later on, so stay disciplined and allow those seeds you planted to grow.
Courtesy of Pixabay.com
Summer Home Improvement Ideas
JD Hostetter – a siding and roofing company in Indianapolis
Decks and patios can add visual interest to your property, while also providing you with an enjoyable living space. Hence, if you’re thinking of building a deck, get in touch with a deck contractor in Denver or anywhere near your house. Sprinkler systems water your lawn evenly and allow you to dictate the timing, which can be handy during water advisories. They also prevent waste and lower water bills; homeowners usually use 50 percent more water on their lawns than necessary. Landscaping is an easy way to improve the look of your property.
Exterior Improvements
If your home already has a deck, summer is an ideal time to seal it and repaint or stain it. Sealing the deck helps to preserve the wood and protect it from weather damage while painting or staining it give it a sharp, fresh look. Additionally, you could also install one of those Edmonton deck covers. If money is a concern, contact your local household hazardous waste program – there is often unopened paint available.
Paint, wherever you obtain it, is also handy for painting the exterior of your home. Paint spruces up your home, giving it a fresh, new look; but it also serves a practical function, protecting against moisture and ultraviolet rays.
While you’re eyeing the exterior of your home, consider a couple of other tasks that are much more practical in summer than winter:
Cleaning your eavestroughs and washing/and or replacing your windows.
Eavestroughs should actually be tended twice a year, and they’re not hard to do if you own a ladder. While you’re clearing away the leaves and debris, check for any cracks or leaks.
Often this is the best time to also complete more complex home improvements. Things such as re-tiling your roof and installing or replacing siding can be better completed once the weather has improved as both can sustain damage in bad weather conditions. Potentially speaking to companies such as JD Hostetter – a siding and roofing company in Indianapolis or even local recommendations, you might get from friends can possibly be useful points of contact.
Focus On Your Windows
Looking out the windows at the flowers and greenery makes summer more of a pleasure, so make sure you can enjoy the view by cleaning your windows inside and out. If you choose to do it yourself, there are inexpensive cleaning solutions that give the glass a real sparkle:
A vinegar-water mixture or a few drops of dish soap in warm water.
While you’re washing your outdoor windows, consider applying caulk around the frames. Caulk keeps outdoor air from seeping in through potential cracks, lowering heating and cooling bills. It also prevents water from seeping into your walls to cause mildew and rot.
You can also give your windows a fresh, new look by replacing them. If you’re seeking better insulation or more sunlight, this is the time of year to invest.
Spruce Up The Grounds
You can check with your local utility company or tree service to see if they offer wood chips or shredded bark for use as mulch; they often sell it cheaply. Just be aware that some imported bark may hold pests such as woodworm or termites, so be careful before spreading it anywhere near anything that could be damaged by an attack. If you’re unfortunate enough to receive bark full of pests, get in touch with exterminators in PA or other exterminators in your area as soon as possible to rectify the problem before it gets out of hand.
Summer is also a good time to consider the shade available on your property and think about whether it’s adequate or not. It’s a perfect moment to plant trees that will provide cover in the future, but if you’re seeking relief from the sun right away, there are options: umbrellas, pergolas or covered porches. There’s no need to suffer in the hot sun if you prefer the shade.
Time For A New Driveway
Summer is the appropriate time to repave your driveway. You can choose asphalt or concrete; asphalt is less prone to cracks. Summer is its season, because asphalt adheres better when it’s warm. With a shiny, new driveway surface, you’re less likely to experience potholes come winter!
Good luck with your projects and if you need insurance advise don’t forget to call your Cleary Insurance Account Executive for help!