Month: November 2022

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November 6, 2022

Retirement Planning for Small Business 3 options

Wondering if your business is too small for a group retirement plan?

One of the keys to attracting and retaining top employees is to offer a high-quality retirement plan. A group savings plan conveniently helps employees save money for the future while reducing and deferring taxes today. Plus, the investment you make in a group retirement plan is an investment you make in your organization, your employees and your reputation. Everyone’s a winner.

Three options stand-out depending on what you want to accomplish with your plan and how much flexibility you need. These are: 401(k) plans, SEP IRAs and SIMPLE IRAs.

The 401(k) Offers the Most Flexibility and High Contribution Limits The traditional 401(k) is probably the most widely known retirement product on the market. It’s the fully loaded, high performance SUV of retirement plans. It’s generally defined as one that enables a business owner and employees to make consistent, tax-deferred contributions during the length of their careers.

SEP IRAs are Pretty Easy to Start and 100% Funded by the Employer Simplified Employee Pensions, more commonly referred to as SEPs, are also a popular retirement plan choice as they offer a contribution limit that’s similar to a 401(k). It doesn’t have all the bells and whistles of a 401(k) plan, but it’s got a good engine under the hood. One of the most important things to understand about SEPs is that 100 percent of the contributions made are by the employer (no employee contributions allowed) and these dollars are immediately vested for the employee.

The SIMPLE IRA is a Solid, Affordable Third Option

The SIMPLE IRA’s name is a bit misleading (it actually stands for Savings Incentive Match Plan for Employees). While both employer and employee can contribute to the plan, the employer must match and matching is vested immediately.

If you do decide that you want to offer a retirement plan, you are definitely going to need some professional advice and guidance. Pension rules are complex, and the tax aspects of retirement plans can also be confusing.

As a financial planning and wealth management professional firm, Mintco Financial has been helping its clients effectively plan for comfortable retirements.

Michael Minter, as a managing partner of Mintco Financial, is a trusted investment management professional who carries more than 16 years of experience in this challenging career field.

Throughout his professional history, Michael Minter has gained strong insight into what skills and knowledge is necessary to perform investment management, wealth building services, small business development and retirement plans.

Michael MInter is also author of the book I-Plan, a guide for your financial security.

Call Michael Minter at 813-964-7100 at Mintco Financial.

Retirement Planning for Small Business

November 5, 2022

Healthcare Reform Key Issues Unresolved

The healthcare reform bill has passed in the US Senate. However both the US House of Representatives and the US Senate bills have yet to address important details affecting patient care. Oversight concerning the determination of medical necessity as well as provider network inclusion issues have greatly affected medical reimbursement and patient access to care. Many insurance companies reimburse medical expenses based upon a determination of medical necessity by the carriers claims department. In the absence of external oversight or regulation, the insurance carrier is free to deny care solely based upon their on private internal review.

Another key issue not addressed is how provider networks create financial barriers to care. Many insurance carriers reimburse medical expenses at lower rates or refuse reimbursements for out-of-network providers. Medical practitioners may also be excluded from insurance company networks for a variety of reasons. Practitioners may be required to limit medical procedures for patients and the number of office visits as a precondition for inclusion in the insurance network. Medical practitioners may also be required to accept lower rates of reimbursement for services provided to patients as another precondition to network inclusion. Some medical networks charge medical practitioners a fee for inclusion in networks.

The patients right to choose their own medical practitioner is not federally guaranteed by law. Additionally, there is no guarantee an insurance company will pay for medical services and patients often have no way to determine what will be paid until after a claim is submitted and a response is generated the insurance companys claims department. The federal government seeks to mandate health insurance coverage for all US citizens yet has not stipulated that insurance companies must reimburse patients for medical expenses nor is there language to address oversight of the determination of medical necessity.

The determination of reimbursements is often based on what is termed as usual and customary. Insurance companies have sole discretion over this aspect of reimbursement for general health insurance policies and may choose to exclude many procedures, office visits, and medical tests whether or not teams of doctors agree that such medical services are vital to the patients survival, recovery, or comfort.

The US House of Representatives and the US Senate have not addressed these details which represent core issues affecting healthcare outcomes for patients. Until these unresolved issues are rectified, it is unclear whether or not US citizens with health insurance coverage will have adequate access to medical care.

November 2, 2022

Ideas for an 8th Grade Science fair Project

Coming up with 8th grade science fair project ideas can be pretty challenging especially if this subject isnt your favorite. There are some ways to come up with plan for classroom experiments that suits your personal tastes and the requirements for the class. It may help to talk to your teacher about a few possible science projects that you can complete.

Remember that the idea for the assignment does not have to be completely original. Try looking for interesting projects for a science fair that are variations of ones done in the past. It helps if you completely know the subject really well. Studying past assignments is a great way to get inspiration.

These experiments for science shows shouldnt be copied. They just serve as a source of inspiration. Imagine being the teacher when developing 8th grade science fair project ideas. He has probably seen the same thing year after year. Try to choose something thats interesting enough to you that you will be willing to put your own spin on the endeavor.

Use your personal strengths when developing a plan for a science fair project. If you are a great artist, mix this into your science presentation. Computer knowledge is very valuable in this subject. Add graphs, charts and other visual aids using programs like Microsoft Excel. Work as many of your own talents into your 8th grade science fair project ideas.

Keep focused. Its easy to fall into the temptation to try and communicate everything you know about the subject. However, your science fair assignment should be targeted on one specific theory, question or goal. Begin with a statement and refer back to it frequently. If the information doesnt relate or doesnt make any sense, get rid of it. Your teacher will thank you for it.

Be prepared to explain your science project ideas with other people. Some teachers like to conduct interviews. Worse yet, many teachers may require you to create a speech about the science fair assignment. This speech may be followed by questions that you have to answer on the spot. This is why choosing a topic that is focused is so important.

Dont worry about getting too fancy. Look for concepts that you really like and understand well. Create something that explains your understanding in a creative way. 8th grade science fair project ideas may be difficult to find at first but if you use your strengths and interests you may find more than one that interests you.

November 2, 2022

Three Automotive Services Every Car Needs

Taking care of your car could take up a lot of time. Car fanatics could argue that its all part of the pleasure in owning a car. On the other hand, other will say its something that needs to be done just to keep the car running. The bottom line is both car owners are delighted with the idea of an auto service garage that offers all the automotive services a vehicle needs.

A master mechanic knows just what a car needs and at the same time has the automotive services to fulfill it. In other words, a good auto service garage doesnt cater to a specific kind of vehicle. The more automotive services it can offer the better. That means customers dont have to hop from one garage to the other. At the same time, the mechanics can completely own up to what they have started with.

Several automotive services any car repair shop should have are the following:

Tune Ups

Cars need maintenance services. That means the engine needs to be checked on regular intervals to make sure that it is in perfect condition. Advancements in tune up services are ideal because vehicles are also affected by technological developments. If your car is one of the newest models, a proper tune up involves a diagnostic scanning of your its onboard computer systems. This could be one of the most costly automotive services your car can experience. But if your car is the expensive type, its just logical to give it the treatment it needs including skills from the expert mechanic.

Transmission

Another of those most common automotive services your car needs is transmission. Most cars nowadays use fuel injections which could be really complicated for the unskilled mechanic. Transmission replaces about 25% of the contaminated fluid, leaving behind 75% of the old fluid to mix with the new. This sounds simple, but the latest technology is required to make it right.

Timing belts replacement

Car owners should know that timing belts should not remain permanent on a car. In the past, chains were used instead of belts but that produced too much noise so the belts were introduced. Belts are not really costly, but it takes experience to be able to replace them correctly. If you do not avail of this specific service, your engine could get seriously damaged.

November 1, 2022

Science & social responsibility in public health

Epidemiologists and environmental health researchers have a joint responsibility to acquire scientific knowledge that matters to public health and to apply the knowledge gained in public health practice. We examine the nature and source of these social responsibilities, discuss a debate in the epidemiological literature on roles and responsibilities, and cite approaches to environmental justice as reflective of them. At one level, responsibility refers to accountability, as in being responsible for actions taken. A deeper meaning of responsibility corresponds to commitment to the pursuit and achievement of a valued end

Public health ethics is on the map. In the past year, bioethicists and public health practitioners have begun to focus their critical attention on this complex and understudied topic. Much remains to be done. Childress et al. (2002), for example, describe their account of public health ethics as a rough conceptual map of a terrain with undefined boundaries.

Our focus will be on the responsibilities of epidemiologists, a choice made for several compelling reasons. Epidemiology sits at the center of the science and practice of environmental health, and more generally, at the center of public health. Although it is often referred to as a basic science of public health, epidemiology connects the acquisition of scientific knowledge with its application in preventive interventions, programs, and policies. This connection suggests a fundamental question: What are our responsibilities as epidemiologists? Do we, for example, have a joint responsibility to participate in science and to apply the knowledge gained? This is a key concern for us as researchers, health professionals, and as teachers.

The social responsibility of public health professionals is but one of many concerns in the broader picture of public health ethics. It is nevertheless a central concern. As Ogletree (1996) reminds us, responsibility is a concept particularly well suited to flame many key aspects of the ethics of professions faced with making decisions and taking actions in complex situations. These decisions often involve advanced technologies, high levels of specialization, and overlapping areas of expertise and concern among decision makers from diverse educational, political, and social backgrounds, precisely the situation in contemporary epidemiology and public health. In sum, responsibility organizes many (although not all) of public health’s ethical issues in terms appropriate for professional practitioners.

Responsibility has a deeper meaning as well, corresponding to commitment. To be responsible means to be committed to someone or to some thing. Being responsible in this deeper sense involves a commitment to positive action, to the pursuit and achievement of something of value, such as a social good (Jonas 1984). We will return to the notion of social goods in public health. For now, we want to emphasize that responsibility focuses attention on professional commitments

Finally, our inquiry is intended to assist all public health researchers who seek to define their social responsibilities. For those who are involved primarily in environmental health research, we can think of at least two connected and current topics–environmental justice and community-based participatory research.