Advantage Benefits
Issue: # 4 December 5 , 2007 
Bill and Vanessa
Greetings!
 
Keeping you informed of the latest developments in the employee benefit marketplace. 
If you have any questions, e-mail Bill or Vanessa.  To learn more about Advantage Benefits, click here.
 
Sincerely,
 

Bill & Vanessa
Advantage Benefits
MA 1099-HC 
New Tax Document
Many of our clients have asked "How will the Commonwealth of Massachusetts know if a tax-payer has health insurance or not by the end of the year?" 
 
Insurance carriers will be issuing a Form MA 1099-HC  to all members.  It will name the carrier, subscriber number and all those insured under the plan.  This form will be mailed to an employee's HOME, not to the employer.  Information from the MA 1099-HC will then be used to complete the new "Schedule HC", which has been added to the Massachusetts Income Tax return.
 
We recommend you send a note to your employees making them aware of this so they will not discard it.   This is VERY important!  If Form MA 1099-HC included and Schedule HC is not completed, the penalty will apply.
 
Lastly insurance carriers have till the end of January to generate this paperwork.  Please tell your employees, who want to file early for their refunds that they should wait for this form along with their W-2.
 
 
 
Get A Check from Your HMO 
Health Rewards 
 
 
All the HMO's have programs, like smoking cessation, to promote health lifestyles which theoretically result in lower claims and premiums.   
 
  • Blue Cross offers $150 annually if you join a health club.    Complete this form. 
  • Harvard has the same $150 benefit,
  • Fallon also has the $150 benefit and includes not only gyms, but enrollment in Pilates, Yoga or Weight Watchers. Click here for their form. Actually, we have heard this benefit may even increase to $300?
  • Tufts offers a 20% discount off participating fitness centers. You need to check on this link to see if your fitness center is in the network. 

As the new year approaches, I will be mailing in my request for $150 to Blue Cross, since I have been a member for at least four months with both Blue Cross and Worcester Fitness .  Take a moment and check to see you may be eligible for a check from your HMO.

 
 
 
 
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Small Business Electricity Sales Tax Exemption  
ST-13
 
The form  ST-13, "Small Business Energy Exemption Certificate" allows businesses in the Commonwealth of Massachusetts to be exempt from the sales tax on the electric bill.  There are  two tests that need to be met.  
 
First, the company has five or fewer employees who work more than 30 hours per week.  The second is a gross income test.   Your sales must be under $1 million per year, and expect that you will be for the current year also.  If you do not meet both tests, you do not qualify. 
 
Please note eligible employers must complete this form every year.