WASHINGTON – Nonprofit businesses, including as many as one-in-five Maryland nonprofit organizations, could be stripped of their tax-exempt status Oct. 15 because of filing rules that changed three years ago, but still caught them unaware.
The leadership of the Injured Workers Insurance Fund has indicated its support for a proposal to convert the insurer from a quasi-state agency to a nonprofit mutual insurance company.
MassMutual’s Retirement Services Division reported a 76% increase in nonprofit retirement plan sales through Oct. 31, when compared to the same period last year.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.