Read more about the article Health Insurance Options for Early Retirees

Health Insurance Options for Early Retirees

Health insurance options for early retireesBy Jim MillerThere are several places early retirees can find health insurance coverage before Medicare kicks in, but the best option for you will depend on your income level, your health care needs and how long you’ll need coverage for. Here’s where to look.• Affordable Care Act: For most early retirees who aren’t yet eligible for Medicare, the Affordable Care Act (ACA) health insurance marketplace, also known as Obamacare, is the best option for getting comprehensive health coverage. And you won’t be denied coverage or charged extra for preexisting health conditions.And, if your income falls below the 400 percent poverty level after you retire — anything below $60,240 for a single or $81,760 for a couple in 2024 — you’ll also be eligible for a subsidy that will reduce your monthly premiums. The ACA also ensures that at least through 2025, households with incomes above that 400 percent poverty level will not have to pay more than 8.5 percent of their income for a benchmark policy.To see how much subsidy you may be eligible for, use Kaiser Family Foundation subsidy calculator at KFF.org/interactive/subsidy-calculator.To shop for ACA plans in your state, visit HealthCare.gov or call 800-318-2596. (more…)

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Read more about the article When TCJA Ends

When TCJA Ends

What will the end of the Tax Cuts and Jobs Act of 2017 mean to small businesses?By Deborah Jeanne SergeantMichael J. Reilly, certified public accountant and consulting partner at Dannible & McKee, LLP.The possible sunset of the Trump era Tax Cuts and Jobs Act of 2017 (TCJA) may affect small businesses in ways that business owners have not yet considered. The TCJA is slated to end in 2025 unless Congress intervenes.“We don’t know what will happen,” said Michael J. Reilly, certified public accountant and consulting partner at Dannible & McKee, LLP, headquartered in Syracuse with additional offices in Auburn, Binghamton and Schenectady and Tampa, Florida. “Biden has said that nothing would change for those under $400,000. Trump talks about keeping these measures and expanding them—and not only for the higher incomes, but the middle class too.”Reilly said that the largest impact from an end of the TCJA on small businesses would be the end of the qualified business income deduction. The QBI deduction provides for a 20% deduction against business income effectively lowering taxable income for many small businesses such as sole proprietors and owners of pass-through entities. For example, for taxpayers in the top federal tax bracket of 37%, their (more…)

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Read more about the article What to Do When the Bill Comes Due

What to Do When the Bill Comes Due

You have options when it comes to large hospital bills you can’t payBy Deborah Jeanne SergeantThe average hospital stay costs $2,883 per day, in addition to expenses for lab work and specialists.A lengthy hospital stay can amount to hundreds of thousands of dollars. Although insurance can certainly help defray the out-of-pocket expense, it doesn’t guarantee affordable care.“Gone are the days of a $20 co-pay,” said Marissa Vartak, family nurse practitioner, board certified in family medicine and owner of On Care Family Health in Cicero. “Ninety percent of my patients have $6,000 deductibles.”These high deductible plans often cover up to 80% of the amount left after the $6,000 deductible has been met.A person with this type of insurance plan would pay $10,800 for a $60,000 hospital bill (a three-week stay, plus lab work and tests) after paying the $6,000 deductible, making their total out-of-pocket cost $16,800.Many people would find this sum out of reach, especially if they have missed work because of their hospitalization or if they live on a fixed income.Although most hospitals will set up a payment plan, unfortunately, many turn to suing patients to collect overdue bills. According to a sample of more than 500 hospitals across the (more…)

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Read more about the article Key to Your Brand: A Style Guide

Key to Your Brand: A Style Guide

Style guides help companies to communicate more consistently, experts sayBy Deborah Jeanne SergeantAlexandra Fitzpatrick is marketing and communications manager at Operation Oswego County. “Having an in-house style guide provides consistency, branding and professionalism,” she says.Does your company have a style guide? A style guide is a set of companywide policies about language and visuals for official company communications both internal and external. Style guides are commonplace among periodicals to maintain consistent means of expression. But they’re not only for media. Every company needs one.It may seem fusty to care about wording in an era of social media rife with slang and slack on grammar. Many text messages lack punctuation and are peppered with emojis and GIFs. However, a company style guide can help your company’s wording appear professional and clear — and determine if and when those emojis and GIFs are appropriate.“Having an in-house style guide provides consistency, branding and professionalism,” said Alexandra Fitzpatrick, marketing and communications manager at Operation Oswego County. “It allows your company to present a cohesive and professional image, while strengthening its brand identity.”Companies connect with the public is a variety of ways, including social media, TV and radio spots, print advertising, press releases and more. (more…)

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Read more about the article Ontario Orchards

Ontario Orchards

One of the largest and most complete farm markets in Central New York celebrates 60 years in operationsBy Tom and Jerry Caraccioli The Ouellette family, front to back: Dennis, Laurie, June and Kathy. Photo courtesy of Ontario Orchards.In 1964, if you went to Ontario Orchards to buy fresh fruit and produce, a bushel of apples (approximately 42 pounds or 100 apples) cost about $3. Corn was going for about a dollar a dozen. And strawberries were a dollar a quart.For more than seven decades Dennis Ouellette has been an agriculturist.This fall, the Ouellette family, led by Dennis and his wife, June, along with daughters, Kathy and Laurie, and grandchildren, celebrate the 60th anniversary of owning and operating Ontario Orchards.From the very beginning they made a point of selling their own fruit, vegetables and Christmas trees, as well as help the local economy by selling goods grown by local farmers.Today, Ontario Orchards has become one of the most diverse, complete, family-owned farm markets in Central New York and New York state. Early startOntario Orchards is presenting its 24th Annual Fall Jamboree in September. Pictured are Kathy Ouellette-Pfeifer, Laurie Oleyourryk and Dennis Ouellette during last year’s preparation.It all started for Ouellette as a 6-year-old (more…)

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Read more about the article Over $21 Million Awarded to Community’s Organizations
Chena Tucker is Shineman Foundation’s director.

Over $21 Million Awarded to Community’s Organizations

Foundation created by SUNY professor and his wife has recently surpassed $20 million in donationsBy Stefan Yablonski The Richard S. Shineman Foundation has been helping to improve the quality of life in Oswego County and Central New York since its inception 2011. It has awarded more than $21 million in grants during this period.Oswego County Business Magazine recently sat down with Chena Tucker, director of the foundation, to delve into the foundation’s mission and its impactful work in the community.Established by Richard and Barbara Shineman, the foundation aims to be a “catalyst for change” — a vision deeply shared by its leadership team.“We have provided more than 750 gifts to more than 189 recipients through various types of grants, including strategic grants, mini-grants and community enrichment grants,” Tucker said.This significant financial commitment highlights the foundation’s dedication to fostering positive change across Oswego County, she added. The leadershipTucker oversees the foundation’s overall direction and management.Kelly Green, the grant program and event coordinator, manages the grant-awarding process and outreach events.The foundation is governed by a nine-member board, which makes all final decisions on grant awards.Tucker explained the foundation’s spending practices, including a mandated 5% payout rule that ensures a portion of the endowment is (more…)

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Read more about the article CNY Nonprofits Hold Over $15 Billion in Assets

CNY Nonprofits Hold Over $15 Billion in Assets

Compiled by writer Stephan YablonskiThere are 13,402 private foundations in New York state, according to Cause IQ, a Seattle company that tracks nonprofit organizations nationwide. Combined, these New York private foundations employ 5,317 people, earn more than $20 billion in revenue each year, and have assets of $200 billion.In Syracuse alone, the Cause IQ states that there are nearly 200 nonprofit organizations. They hold assets estimated at $15 billion.A glimpse at some CNY foundations: Allyn Family Foundation Inc11 Fennell St., Skaneateles315-685-5059www.allynfoundation.orgThe foundation is committed to a collaborative partnership with organizations and the community to build a responsible and vibrant Central New YorkGiving primarily to improve the quality of life in Central New York. Emphasis placed upon health, human services, education and youth and families.Assets have increased to more than $132 million.With the increase in the foundation’s assets, the foundation changed its name from the Allyn Foundation to the Allyn Family Foundation. (more…) (more…)

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Read more about the article Local Foundation Benefits Youth in Oswego
Members of the board of directors at Garrett Dunsmoor Memorial Foundation, taken at a basketball tournament in June. From left, are: MacKenzie Dunsmoor (secretary), Brooke Tracz (vice president), Brian Warner, Alyssa Auer Mitchell, Teresa Gentile (treasurer), Judy Queale-Dunsmoor, president, and John Dunsmoor.

Local Foundation Benefits Youth in Oswego

Garrett Dunsmoor Memorial Foundation has awarded more than 50 grants to nonprofit organizations benefiting youth in communities in and around OswegoBy Stefan YablonskiThere are scores of foundations in Central New York.Some have been created for very poignant reasons. All strive to help others.“The Garrett Dunsmoor Memorial Foundation was established in 2019 after the sudden passing of our son, Garrett, in July 2018,” said Judith Queale-Dunsmoor, president of the foundation.Garrett graduated from Oswego High School in 2014 and graduated cum laude from St. Lawrence University in May 2018 with a bachelor’s degree in rhetoric, communications and business.While there, he earned a place on the Liberty League All-Academic Team while playing two years of varsity football and four years of varsity lacrosse.“He was bright, hardworking, humble and caring with a smile that would light up every room. He was passionate about athletics, academics and social issues and had an incredible gift of connecting with people of all ages and backgrounds,” his mother said. “He especially loved working with kids and coaching youth sports and was very proud of his hometown. We have created the Garrett Dunsmoor Memorial Foundation to continue Garrett’s legacy of love, knowing that he would be happy and proud (more…)

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Read more about the article Catholic Charities Helps Families Challenged by Poverty

Catholic Charities Helps Families Challenged by Poverty

Nonprofit focusing on food insecurity, homelessnessBy Stefan Yablonski With a budget of $5,541,924, Catholic Charities of Oswego County serves nearly 3,000 people annually.Originally founded in the 1930s as an adoption agency, Catholic Charities has evolved into a human service agency providing many valuable programs and services to children, families and individuals. It has a great variety of people come through its doors annually to either receive help — or to provide that help.The most prevalent needs in this calendar year have been housing and food insecurities.“Catholic Charities of Oswego County assists a multitude of families and individuals throughout Oswego County who are challenged by poverty,” said Mary-Margaret Pekow, CCOC executive director. “The two areas in which we have the most impact are through our food pantry and our thrift store.”From January 2024 through July 2024, 931 households (2,702 individuals) have been served in the food pantry, she said.“We have added 931 new pantry members during that time frame as well,” she added.In 2023, the food pantry served an average of 248 individuals each week.The pantry also assembles 50-60 homeless food bags each month; that means 600-720 bags of food going to the homeless annually. (more…) (more…)

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Read more about the article New Line of Credit Established for Nonprofits in CNY

New Line of Credit Established for Nonprofits in CNY

CNY Community Foundation teams up with NBT Bank to provide low-interest bridge loans to nonprofits in need of cash The Central New York Community Foundation’s local impact investing program has closed on a $750,000 deal to secure a low interest line of credit for Volunteer Lawyers Project of CNY, Inc. (VLPCNY).The funding will help the organization continue its legal aid services until funding from state grant contracts are fulfilled.This will be the first project receiving funding from a new certificate of deposit (CD) funding program the Community Foundation has established in partnership with NBT Bank.VLPCNY is a nonprofit legal aid organization that engages the legal community in volunteer service to low-income community members throughout Central New York. Its volunteer panel consists of over 500 lawyers who serve more than 3,500 clients a year with civil law needs.The new agreement will allow the organization to continue funding legal aid and anti-poverty programming while awaiting reimbursement from state agencies such as the Department of State and the Department of Health for multiple executed contracts.“VLPCNY, like so many nonprofit organizations, receives most of its funding from New York state to provide critical services that that State has identified as essential to life,” said Sal (more…)

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