Reminder: Your response to the Census is important
Your town, county, state and national officials of all political parties need you to fill out and submit your census form. Right now we are experiencing how information from the 2010 census influences how billions of dollars are used to support the schools, hospitals, roads, libraries, and dozens of public services that touch us every day. Go to www.my2020census.gov. Follow the directions about who to count. Complete the questionnaire once you begin. Use the buttons within the questionnaire to navigate, not your browser. Best browsers are Chrome, Firefox, Internet Explorer, Safari. Enable cookies. It takes less than 10 minutes. Your response affects your world for the next 10 years.
Obamacare Insurers will refund $2.7 billion
A medical loss ratio provision in the Affordable Act requires insurers to spend at least 80% of their premium income on claims and quality improvements over the previous three years. Insurers that don’t meet that requirement must refund the difference as rebates.
This fall health insurers will refund or rebate this money to 7.9 million people who purchased health insurance through the Affordable Care Act. The Kaiser Family Foundation estimates this will average $420 per customer.
Companies are working on submitting their numbers to regulators now. Stay tuned.
Alert: What you must do to have your PPP loan forgiven
(This from our client Jessica Oldani, Oldani Entrepreneurial Law firstname.lastname@example.org)
You can use PPP funds for any allowable purposes starting on the date you get the funds through June 30,2020, but only funds used for forgivable purposes (in details below) during the 8 weeks starting on the date you receive the funds are eligible for forgiveness. The proportion of funds for which you apply for forgiveness must be at least 75% payroll, and up to 25% other non-payroll forgivable uses. Forgiveness will be reduced by reductions in number of full-time equivalent employees and reductions in salaries and wages of employees, unless you re-hire or reinstate compensation to pre-reduced rates.
Funds used beyond the 8 week period through June 30, 2020, if applicable, and funds used for allowable but not forgivable purposes, will need to be repaid at 1% interest. Loan payments will be deferred for 6 months. There will be no collateral or personal guarantees required on the loan.
Many small businesses are envisioning hanging on to PPP funds for a longer period of time for use well beyond June 30, 2020 at the 1% repayment interest rate, but, unless this changes, use of PPP funds after June 30, 2020 is not “allowable” under the CARES Act.
Online fun for all ages
Another month in quarantine? Here’s really great online stuff to do. Thank you Skokie Public Library.
PebbleGo is designed for students in kindergarten through grade 3. It includes articles and activities that support literacy using animals, science, biographies. www.pebblego.com
CultureGrams helps kids learn what it is like in other states or countries. Parts can be translated into other languages. www.onlineculturegrams.com
World Book offers age appropriate stories, games, activities and videos for Early Learning, Kids, Students and Advanced modules. There’s an exciting Timeline section. www.worldbookonline.com
Opposing Viewpoints provides information about current events, telling both sides of a story.
Medicare and Alternative Health Insurance Explained
Turning 65? Turning 26? Lost your job and health insurance? We’re holding free ZOOM seminars on COBRA and Health Insurance Alternatives every Monday afternoon at 1pm. They’re the same seminars we give for national outplacement services. Of course, you can call us at any time for this information, but if you want to ZOOM, send an email to email@example.com and we’ll send you the link.
A Moment of Peace
Get one from the Institute for Individual and World Peace www.iiwp.org/moment-of-peace-subscription