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Introducing NEW Index Crediting Strategies

Aviva is proud to announce the launch of three new index crediting strategies, providing a stronger Indexed Universal Life solution to meet your clients’ life insurance needs.

Available on IUL products Advantage Builder IV, Lifetime Builder III and Survivorship Builder, the strategies are:

Index Universal Life, Indexed Universal Life, IUL, Index UL, Crediting Strategies, Aviva

IRS Release Proposed Employer Requirements

IRS code 498OH was released, Dec. 28, 2012 by the Dept. of Treasury and IRS . These proposed regulations can be relied upon by employers and will remain in effect until final regulations are issued.

The Affordable Care Act

The biggest Healthcare overhaul since Medicare in 1965, the Patient Protection and Affordable Care Act (PPACA) was signed into law by President Obama, May 23, 2010. PPACA, later shortened to ACA, is intended to expand health coverage to those who previously could not afford or were not eligible.

These “Marketplaces” do not replace privately purchased health coverage. They are a new way to shop and purchase coverage, that is designed to be consumer friendly.

Who is exempted from Minimum Essential Coverage requirements?

  • Members of RELIGIOUS ORGANIZATIONS recognized by the Social Security Administration
  • Members of HEALTH CARE SHARING MINISTRY
  • Members of federally recognized INDIAN TRIBES
  • Individuals with NO TAX FILING REQUIREMENT due to household income being below Federal Poverty Level
  • Individuals without coverage during an annually allowed 3 CONSECUTIVE MONTH PERIOD.
  • Individuals who have been certified by the Marketplace to have suffered a HARDSHIP that makes you unable to obtain coverage.
  • Individuals who are INCARCERATED
  • NON U.S CITIZEN
  • Individuals who are UNABLE TO AFFORD coverage, due to premium being more than 8% higher than household income

Who is Eligible for Premium Credit

No Employer plan available

If Employer plan is available, plan must be unaffordable or less than minimum essential coverage.

Coverage applied for must be through the Public Marketplace

Credit based off where consumer falls on FPL, (must be between 133% – 400%) and cost of area’s lowest Silver plan premium.

Who is Eligible for Cost-Share Subsidy?

No Employer plan available

If Employer plan is available, plan must be unaffordable or less than minium essential coverage.

Coverage applied for must be through the Public Marketplace & a Silver level plan

Credit based off where consumer falls on FPL, (must be between less than 250%)

What is the Employer Marketplace?

Marketplace where Employer’s can select plan options and will be able to _____________. Once the employer is set up, the employees can then compare the choosen options based on cost and benefits that meet thier needs.

Groups with 2-49 full time employees will be able to choose to offer benefits through either a PUBLIC marketplace, called the Small business Health Options Plan (SHOP) or through a PRIVATE Marketplace direct with a private company.

Groups that are deemed “LARGE GROUPS” (50 or more full time equivalent employees) will also have the option to offer coverage via Public or Private Marketplaces but they will not receive tax benefits that are available through the SHOP Marketplace.