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Asrar Ahmed’s Answers

4 total

  • Who pays health insurance if employee quits mid-month?

    An employee of mine quit on January 11. I paid his health insurance. His wife and child were covered under the same policy but he paid their portion of the premium out of his paycheck. The insurance company wouldn't cancel his policy mid-mont...

    Asrar’s Answer

    Insurance law is generally dictated by the contract language. The terms of the insurance policy you have acquired for your company will provide detail on the matter. You should have an attorney review the insurance policy and interpret the relevant provision for you so that you may proceed appropriately.

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  • My unemployment benefits have been help for 2 weeks and i need it. what can i do to get them to release my funds?

    i recently had a baby and they did not know AT ALL! they had already held the benefits for 2 wks with no reason at all when i informed them i had a baby. i am in the job training program and they said all i had to do was go to school. after i inf...

    Asrar’s Answer

    Since your situation is very pressed for time, I would immediately contact an attorney in your area that handles these types of issues. An answer we may give here would give you information but it will not help to expedite the matter. If you call the department of employment security, sometimes they will even offer a list of reputable attorney's that help people in your circumstance.

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  • Can wages above the required minimum be considered as part of my H & W benefit?

    Working as an hourly federal contractor, if my wage rate is above the minimum requirement under the Wage Determination for my position can that portion of my wage rate be considered as part of my Health & Welfare benefit or should it be separate a...

    Asrar’s Answer

    In order to make that judgment you would have to have an attorney review your compensation format. Normally, payments above and beyond standard rates are not considered to be health and welfare benefits, as they do not fit the definition. Please contact an attorney in your area to qualify your matter properly. In order to give a clearer answer, I would need more details.

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  • Can I withdraw the funds I rolled over from a previous employer's 401k to my current employer's 401k?

    Due to a non-amicable divorce's legal costs, I've become a couple of months late on my housing lease payment. I'm attempting to withdraw funds from my 401k. The 'experts' at the 401k say I must 'exhaust' all withdrawal options before I take a 'h...

    Asrar’s Answer

    Hardship withdrawals were put into place in order to encourage people to put away money for retirement, but not have to worry about completely being alienated from their money once they have put it away in case of a severe financial hardship. One of the disadvantages of a hardship withdrawal is that the tax benefits are lost on the money you have withdrawn, thus you lose valuable tax incentives for doing so. Does your plan have a plan loan feature? This is a great option if your plan is asking you to exhaust all other options before seeking a hardship withdrawal. With a plan loan option you can pay back the money you have loaned to yourself and simultaneously make normal contributions to the plan. This will allow you to use that money to pay some of your bills today and at the same time still protect your future.

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