Serving over 200 companies and more than 2000 families since 1988

2882 Sand Hill Rd. Ste. 119 - Menlo Park, CA 94025 - (650) 854-8963 - (800) 564-4476

Posts made in March, 2019

You might already know that Open Enrollment, offered each fall, provides us all with the chance to review our healthcare plans and make any necessary changes. Then, the decisions you have made during Open Enrollment will apply to the following year’s coverage. But what if your needs change outside of the Open Enrollment period? Is it ever possible to change your healthcare coverage? Actually, yes. If you experience what is called a Qualifying Life Event, you will be eligible for a Special Enrollment Period. During this time, you can indeed alter your healthcare plan or enroll in a new one. So, what are these Qualifying Life Events? You lose your healthcare coverage – from job loss, expiration of a student plan, or lost eligibility for Medi-Cal You turn 26 and “age out” of your parent’s plan You get married or divorced Adding a new child to the family (through birth or adoption) A death in the family You move to a different zip code, and your plan does not offer service there You’re a student, and move to or from the location of your school You’re a migrant worker, and move to or from your place of work Moving into, or out of, a shelter or some other type of transitional housing Release from jail or prison Changes in your income, that change the type of coverage for which you are eligible You become a US citizen You gain membership in a recognized Native American tribe Starting or ending your Americorps service What do you do next? If you believe you have experienced a Qualifying Life Event, and you wish to change your healthcare coverage, give us a call. We can review the details with you and help you determine the health insurance coverage options that are available to you. But don’t delay; your Special Enrollment Period only lasts 60 days from the date of the Qualifying Life Event. Get started right away, so that you have time to evaluate your options and choose the right plan for your...

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When it comes to federal income taxes, nothing ever seems uncomplicated. But we do strive to bring you the latest news about changes in our tax code, so that you can avoid errors and plan appropriately. With that idea in mind, here are eleven new changes in various areas, that will affect both you and your employees in 2019. These new figures took effect January 1, so make sure you’ve updated your records. 401(k) pre-tax contribution limit for 2019 has been increased from $18,500 to $19,000 this year. This limit also applies to 457, 403(b), and Thrift Savings Plans. The catch-up contribution limit for the same qualified retirement plans will remain at $6,000 for 2019. This type of contribution is available to those age 50 and over only. The IRA contribution limit has been increased from $5,500 to $6,000. The catch-up contribution limit for IRAs remains at $1,000. The new health savings account (HSA) contribution limit for individual coverage will be $3,500 in 2019. For those with family plans, HSA contribution limit will be $7,000. The HSA catch-up contribution limit for those age 55 and older will remain at $1,000 this year. The flexible spending account (FSA) contribution limit is increased to $2,700. The minimum deductible for high deductible health plans (HDHP) remains the same this year, at $1,350 for individual plans. The minimum deductible for HDHP family plans remains at $2,700. The maximum out-of-pocket expenditure for individual HDHPs will be $6,750 in 2019. This maximum applies to expenses other than premiums, such as deductibles and co-pays. The out-of-pocket maximum for family HDHPs will be $13,500. If you have any questions about these items, please call our office to clarify. We’ll be happy to help you determine how these changes apply to you and your...

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