If your health insurance policy was cancelled in anticipation of the start of the Affordable Care Act, you may soon be able to have it reinstated.
Today, the Michigan Department of Insurance and Financial Services (DIFS) said that after careful review, Michigan is allowing health insurers to reinstate cancelled policies.
Continue reading Michigan to Allow Health Insurers to Reinstate Canceled Plans
Michigan will see 130,000 new jobs over the next two years, according to economists at the University of Michigan Research Seminar in Quantitative Economics on Friday. This puts job growth slightly above the 57,000 annual average from 1971-2000.
Gongwer News reports that Economist George Fulton predicted growth in construction, manufacturing and health care, though manufacturing growth will slow, while construction growth will increase compared to recent years.
Continue reading Above Average Job Growth Expected in Michigan
Fraser Trebilcock Attorney Peter D. Houk was recently selected by his peers for inclusion in The Best Lawyers in America© 2014 in the field of Arbitration and Mediation. He was also selected as a Super Lawyer for 2013 in the field of Arbitration and Mediation.
Mr. Houk is a past president of the American Inns of Court, Thomas M. Cooley Chapter; and served as an Ingham County Circuit Court Judge until 2003. He was an Adjunct Professor of Criminal Law at Thomas M. Cooley Law School for twenty years, and is an International Mediation Institute certified mediator. Mr. Houk has been listed in Super Lawyers from 2008-2011, and was elected as a Fellow of the State Bar of Michigan.
Fraser Trebilcock is proud to take part in a unique program designed to give law school students an inside look into the legal world. The training program, called 60 Minute Mentoring, was created by Cooley Law School in partnership with the Ingham County Bar Association (ICBA).
Today, Attorney Marlaine C. Teahan met with a second year student of Cooley Law School as part of the program. Ms. Teahan provided information on developing a Trusts & Estates practice, interviewing techniques, as well as local and state-wide networking opportunities with other attorneys.
Fraser Trebilcock Attorney Thomas L. Sparks was recently selected by his peers for inclusion in The Best Lawyers in America© 2014 in the field of Administrative/Regulatory Law. He is also selected as a Super Lawyer for 2014 in the field of Health Care.
Mr. Sparks is admitted to the U.S. Supreme Court, and the U.S. District Court, Eastern and Western Districts of Michigan. He is past Chair of the Administrative Law Council of the State Bar of Michigan, and past Chair of the Ingham County Bar Association Health Law Section. Mr. Sparks is a frequent lecturer on the business and regulation of health care providers and served on the Governor’s Prescription Abuse Data Synthesis Committee. He has been listed in The Best Lawyers in America since 2007.
President Obama announced today that health insurance policies in the individual and small group markets, which would otherwise be cancelled under the terms of the Affordable Care Act, may be kept for another year without being deemed non-compliant.
However, the extension of current coverage will only occur if the health insurance issuer so chooses. Specifically, “health insurance issuers may choose to continue coverage that would otherwise be terminated or cancelled, and affected individuals and small businesses may choose to re-enroll in such coverage.”
This morning, Fraser Trebilcock teamed up with the Lansing Chamber of Commerce to present a seminar to help employers keep up with changes related to Health Care Reform. Topics included a background on the Affordable Care Act and Health Insurance Marketplace, information on delays, and what changes can be expected in the future.
As keynote speaker, attorney Mike James put together an information presentation, titled “Navigating the ACA Marketplace: Guidance for Small Businesses and Individuals”.
You can view the presentation here.
For more information, contact Fraser Trebilcock Senior Health Care and Business Attorney Michael James at mjames@fraserlawfirm.com or 517.377.0823.
NOTE: Information contained in this presentation is only current as of the blog publish date. For updated information, refer to the Fraser Trebilcock Health Care Reform blog.
In late 2013, Governor Snyder told Michigan residents that “Michigan’s military veterans, particularly those who are disabled, have sacrificed more for us than we can ever repay. They have served to protect our way of life and our freedom.” As an acknowledgement of that sacrifice, the Governor signed the Dannie Lee Barnes Disabled Veteran Property Tax Relief Act, also known as Public Law 16, into law. Added Governor Snyder on the day of the signing, “This property tax break will be available to their families will help them afford homes and stay right here in Michigan.”
Thanks to this Act, property tax relief is now available for Michigan’s disabled Veterans and their un-remarried spouses. If you are a Michigan disabled veteran who has been honorably discharged from the U.S. armed forces, your real property used and owned as a homestead, or principal domicile, is exempt from the collection of Michigan property taxes under the General Property Tax Act. MCL 211.7b. Additionally, not only are disabled veterans able to receive the exemption, but if a qualified veteran dies before or after the property tax exemption is granted, the veteran’s un-remarried spouse may also qualify under the Act.
To qualify, you do not need to meet an income or asset test. This is not a tax break for low-income disabled veterans; rather, this is a tax exemption that applies to all qualified Michigan disabled veterans in response to their service.
How is a Disabled Veteran Defined?
The Act defines a disabled veteran as a resident of the State of Michigan who meets one of the following criteria:
How Can I Apply for the Disabled Veterans Exemption?
To claim the exemption, an affidavit must be filed annually by you, the property owner, or your legal designee, with the supervisor or other assessing officer. The affidavit must supply the facts required in the Act along with a description of the real property. There is no specific format required by the Act for the exemption affidavit. However, for uniformity and simplicity, Form 5107, the Affidavit for Disabled Veterans Exemption, was created and can be found online at the Michigan Department of Treasury website.
When Should I Apply?
For exemption of 2013 property taxes, the Affidavit for Disabled Veterans Exemption must be filed at the July 2014 Board of Review, as stated by the Michigan State Tax Commission. For other years, the affidavits may be filed at either the March, July or December Boards of Review as each will have the authority to review and grant the disabled veterans exemption.
If you are denied the exemption, any appeal you would like to make must be made to the Michigan Tax Tribunal by the filing of a petition.
Should All Disabled Veterans Apply?
As a qualifying veteran, before applying for the property tax exemption, you should weigh the net benefit of not paying real property taxes against the net income tax benefits of having the Michigan Homestead Property Tax Credit and, if you itemize deductions on your IRS Form 1040, the reduced federal taxes because of the deduction for real estate taxes paid. It is likely that most veterans will benefit more by having the disabled veterans property tax exemption rather than the tax credit and itemized deductions; however, it is a good idea to look at the bottom line for each option before applying for the exemption.
You can find additional information on the disabled veteran property tax exemption online in Bulletin 22 of 2013 issued by the Michigan State Tax Commission (12-16-13). For the link, CLICK HERE.
Marlaine C. Teahan chairs Fraser Trebilcock’s Trusts and Estates practice. She handles a wide variety of matters including: drafting wills, trusts and durable powers of attorney; trust and estate administration; guardianship and conservatorship matters; and probate litigation. She can be reached at mteahan@fraserlawfirm.com or 517.377.0869.
Fraser Trebilcock attorney Michael P. Donnelly was recently elected to the position of Chair-Elect of the Litigation Section of the State Bar of Michigan.
Mr. Donnelly is Vice-President of the firm and the Managing Shareholder of the firm’s Detroit office. He is one of only five attorneys in Michigan and 318 worldwide named a 2011 BTI Client Service All-Star by corporate counsel from Fortune 1000 companies, and has achieved an AV© peer review rating by Martindale-Hubbell. Mr. Donnelly has been selected on multiple occasions, including in 2013, as one of the “Top Lawyers” in Detroit by dbusiness Magazine for commercial litigation.
The Department of Treasury and IRS recently released guidance modifying the “use-or-lose” rule for health FSAs and clarifying previous guidance regarding non-calendar year cafeteria plan change in elections.
