Employee Benefits Demand Direction Employee Benefits Demand Direction

Academy Financial Benefit Services (AFBS) was founded ten years ago on the belief that employee benefits should not be categorized as an expense alone. Benefits can, and should be, a point of differentiation that sets your firm apart from all others. Your benefits should reflect your business priorities, and yet still enable you to retain the talent necessary for your organization to thrive. To compete in today’s marketplace, regardless of economic conditions, you need to offer employees, and yourself more than just a salary.

Employee Benefits are a demonstrated commitment to your employees. By offering benefits, you show your appreciation by giving them the opportunity to work knowing that they are protected with the coverages they need for themselves and their families. Employees who feel appreciated tend to demonstrate higher productivity and a greater degree of loyalty to their employers.

We encourage you to navigate our site, hear from our current clients, and learn how AFBS can help change the way you apply employee benefits for the better.

What's New - What's New -

Health Care Reform: SMALL BUSINeSS TAX CREDIT

The new health care reform law helps make coverage more affordable for some small businesses. Effective for tax years 2010 through 2013, small businesses that provide health care coverage for their employees may be eligible for a tax credit.

  • The credit may cover up to 35 percent of the portion of the premiums paid by the employer.
  • The maximum credit increases to 50 percent for 2014 and later.
  • Dental and vision coverage qualify for the credit.
  • Both for-profit and tax-exempt organizations are eligible.

Groups can claim the credit on their annual tax return. Read on for more information.

Eligibility

As a small business, you may be eligible for the tax credit if you:

  • Provide at least 50 percent of the cost of health care coverage for your employees.
  • Have fewer than the equivalent of 25 full-time employees (for example, a business with fewer than 50 half-time workers would be eligible). Business owners and their family members who work for the company are excluded.
  • Pay annual wages that average less than $50,000 per full-time equivalent employee.

For more information about calculating the number of full-time employees and average annual wages, see the Internal Revenue (IRS) Guidlines.

How much is the credit?

The amount of the credit depends on whether or not your business is for profit or tax exempt. For 2010 through 2013:

  • If the group is for profit--the maximum credit is 35% of your contribution.
  • If the group is tax exempt--the maximum credit is 25% of your contribution. The tax credit may be reduced if the number of full-time employees exceeds 10 or the group's average annual wages exceed $25,000. More detailed information about how the amount of the tax credit may be affected is available on the IRS website or from your tax professional.

Estimate your tax credit

Use the tax credit estimator (Excel File) to estimate what your tax credit may be.

To get started:

  1. Open the spreadsheet and enable the macros.
  2. Indicate if your business is tax exempt.
  3. Enter the number of full-time equivalent employees, average annual wages, and estimated costs you pay toward the plan premiums.

**Information provided by Kaiser Permamante.

HEALTHCARE REFORM

What is foremost on everyone's mind regarding Healthcare?  Healthcare Reform.    Let us help you navigate through the new regulations and answer your questions.  We have attached links to several sites as well as documents that summarize all the facets of this complex legislature. 

Useful Links:
Healthcare Exchange
HealthReform.Gov
Q and A

 Useful Documents:
AFBS Reform Flyer
Detailed Summary
Time Line

 

COVERAGE FOR INDIVIDUALS

Need Medical Insurance for yourself and your family?  We can help.  We are partnering with BenefitMall to bring you a unique quoting system that will give you personalized quotes for individual products offered by: Aetna, CareFirst, United Health Care.  To get started CLICK here or cut and paste this link into your web browser address bar.

 

 
Request A Quote Request A Quote
Directions to AFBS Directions to AFBS

We are conveniently located in Lutherville, Maryland just North of Baltimore off I-695.


If you would like detailed directions to our office please feel free to contact us directly, or use the MAPQUEST MAPS.

 

 

 

 

 

 
Contact Us: Contact Us:

Contact us during business hours 8:30am to 4:30pm Monday through Friday to schedule a complimentary consultation.

Academy Financial Benefit Services
1300 York Road
Suite 220
Lutherville, Maryland 21093

Phone: 410.825.3569
toll free: 800.253.9915
fax: 410.825.2062
e-mail: SUSAN.BLAKE@LFG.com

Visit our staff directory for direct contact information.