Today! NATIONWIDE EMERGENCY ALERT SYSTEM TEST

Here is the link:

http://www.fcc.gov/encyclopedia/emergency-alert-system-nationwide-test

From the FCC Website:

At the Federal Communications Commission's June 9, 2011 Agenda meeting, Public Safety and Homeland Security Bureau Chief Jamie Barnett, joined by representatives from FEMA and the National Weather Service, announced that the first nationwide test of the Emergency Alert System (EAS) would take place at 2:00 PM (Eastern Standard Time) on November 9, 2011. The purpose of the test is to assess the reliability and effectiveness of the EAS as a public alert mechanism. EAS Participants currently participate in state-level monthly tests and local-level weekly tests, but no top-down review of the entire system has ever been undertaken. The Commission, along with the Federal Emergency Management Agency, will use the results of this nationwide test to assess the reliability and effectiveness of the EAS as a public alert mechanism, and will work together with EAS stakeholders to make improvements to the system as appropriate.

What should you do to prepare for an Earthquake?

http://pubs.usgs.gov/gip/2005/15/gip-15.pdf

 – U.S. Department of the Interior & U.S. Geological Survey

What You Should Know before hiring a Contractor

Did you know that any contractor performing $500 worth of work or more (including materials and labor) must be licensed by the Contractors State Licence Board to work in California?

Find out more info from the CSLB, here:

http://www.cslb.ca.gov/Resources/GuidesAndPamphlets/WYSKPamphlet.pdf

http://www.cslb.ca.gov/Consumers/

Check out our article in the recent Pacific Sun Magazine!

Maximum HSA contribution to rise slightly in 2012

Interesting recent article from Business Insurance.com:

http://www.businessinsurance.com/article/20110516/NEWS/110519957

The Affordable Care Act and Impact on California Tax

Here is some good news!

The Affordable Care Act and Impact on California Tax – AB 36

Effective 4/7/11 for Tax Year 2010

Health Coverage for Adult Children up to Age 27

California Assembly Bill (AB) 36 was enacted on April 7, 2011. This bill conforms California personal income tax law with federal income tax law by adopting a specified provision of the Affordable Care Act signed into law by the President in March 2010. (The Affordable Care Act refers to Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010.) AB 36 is effective immediately, and generally applies to the same taxable periods as federal law.

·         The Patient Protection and Affordable Care Act requires benefit plans that provide coverage for family members to cover adult children of the employee, to age 26 whether or not they qualify as dependents for tax purposes.

·         The Health Care and Education Reconciliation Act of 2010 extends the general exclusion for reimbursements for medical care expenses under an employer-provided accident or health plan to any child of an employee who has not attained age 27 as of the end of the taxable year.

Impact on Income Tax – The Affordable Care Act amends federal income tax laws to exclude the value of an eligible adult child’s medical coverage from the taxable income of the parent-employee, even if the child is not a dependent. The law also allows self-employed individuals a deduction for health insurance premiums for an adult child under age 27, even if the child is not a dependent.

New California law – California personal income tax law, as amended by AB 36, conforms to the 2010 federal income tax rules which exclude the value of the medical coverage provided to nondependent adult children from California gross income and allow a deduction to self-employed individuals for health insurance premiums for nondependent adult children under age 27.

·         Any amount paid by an employee for such additional coverage is excluded from California taxable wages.

·         Self-employed individuals may deduct the health insurance premium paid for an adult child under age 27.

Find out more at www.ftb.ca.gov

Who pays for Long Term Care?

Long Term Care is not covered by traditional medical insurance plans. Meaning, you are responsible for paying for Long Term Care that major medical insurance plans will not cover.  Medicare may assist in nursing home care and skilled nursing, but only for a very limited time and MediCal pays for nursing home care only when you are impoverished. We can help you find the right Long Term Care product that fits your needs.