Business Blog

Securing Tomorrow: Navigating Child Care Insurance Challenges

Unlocking Insights: Navigating the Child Care Insurance Market in Arizona and Beyond

Our May 2024 Business Speakers Series presentation delves into the dynamic landscape of child care insurance. Specifically tailored for child care providers in Arizona and nationwide, the discussion addresses common questions faced by organizations:

  1. Why Nonrenewal? Understand the reasons behind nonrenewal by your current carrier.
  2. Premium Mysteries: Demystify the surge in premiums despite a clean claims history.
  3. Maximizing Marketability: Learn how child care providers can position themselves favorably with insurance carriers and underwriters.
  4. Exploring Options: Explore insurance solutions, including the Social Service Contractors Indemnity Pool (SSCIP) availability for coverage, and discover the benefits of working with a broker.

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Understanding the Corporate Transparency Act: A Guide for Child Care Providers

Navigating Beneficial Ownership Information Reporting for LLCs and Corporations

Early Childhood Business Solutions is here to guide you through the new requirements of the Corporate Transparency Act (CTA) that could impact your child care business. Here’s what you need to know about Beneficial Ownership Information (BOI) reporting.

Effective January 1st, 2024, the CTA requires many U.S. companies to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of Treasury. This legislation, enacted in 2021, aims to prevent and combat tax fraud, money laundering, and financial terrorism.

Who Needs to Report?

If you’re a child care provider, you might need to submit a BOI Report if you meet certain criteria. Reporting companies include:

  • Corporations
  • Limited liability companies (LLCs)
  • Entities created in the U.S. by filing with a state secretary or similar office
  • Foreign entities registered to do business in the U.S.

What is a Beneficial Owner?

A beneficial owner is an individual who directly or indirectly owns or controls a company. Reporting this information helps maintain transparency and prevents illicit activities.

Filing Deadlines

  • Existing Companies: If your company was created or registered before January 1, 2024, you have until January 1, 2025, to report BOI.
  • New Companies in 2024: Report BOI within 90 days of your company’s creation or registration.
  • Companies Created on or After January 1, 2025: File BOI within 30 days of registration.

No Cost to File

There are no fees to file your BOI Report. Beware of scammers claiming otherwise.

Consequences of Non-Compliance

Failing to file a BOI Report can lead to civil penalties and criminal penalties, including imprisonment and fines.

Questions?

Contact our Statewide Support Line at 602-265-4768 or email us at ecbs@swhd.org,  

File your BOI report at https://www.fincen.gov/boi.

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Your Voice Matters! Take part in the 2024 Arizona Child Care Market Rate Survey

Dear Child Care Services Provider, 

Recently, the Arizona Department of Economic Security (DES) sent an email to all licensed and certified child care providers in Arizona announcing the 2024 Arizona Child Care Market Rate Survey. DES contracted with the Burns & Associates division of Health Management Associates to administer and analyze results from the survey. 

Participation in the survey is voluntary, but critical in ensuring subsidy payment rates are based on representative data from providers of all types and regions across the State. The survey is available in English and Spanish.

Your responses will be kept completely confidential and combined with responses provided by other child care providers. This information will then be used to assist DES in reviewing subsidy payment rates and policies. The survey can now be accessed at the following URLs:

Centershttps://healthmanagement.qualtrics.com/jfe/form/SV_enfQLtJqEzuBJCC

Homeshttps://healthmanagement.qualtrics.com/jfe/form/SV_cGYhQ0BYwrNuxWm

DES is requesting the survey to be completed by April 23, 2024, to be entered into 3 Visa gift card drawings at a value of $600, $300, and $100. All surveys must be submitted by May 7, 2024.

If you have any questions about the survey, please refer to the following contact information.

Derek Barber

(517) 993-9229

dbarber@healthmanagement.com

We strongly encourage and appreciate your participation in this important effort.


Estimado/a Proveedor/a de Servicios de Cuidado Infantil: 

Recientemente, el Departamento de Seguridad Económica de Arizona (DES por sus siglas en inglés) envió una nota por correo electrónico a todos los proveedores de cuidado infantil con licencia y certificados en Arizona, anunciando la Encuesta de las Tarifas del Mercado de Cuidado Infantil de Arizona en 2024. DES contrató a Burns & Associates, una división de Health Management Associates, para que administre y analice los resultados de la encuesta. 

La participación en la encuesta es voluntaria, pero es fundamental para asegurar que las tarifas de pago de los subsidios se basen en datos representativos de proveedores de todo tipo y de regiones a través del estado. La encuesta está disponible en inglés y español.

Sus respuestas se mantendrán completamente confidenciales y se combinarán con las respuestas proporcionadas por otros proveedores de cuidado infantil. Esta información se usará para ayudar a DES a revisar las tarifas y normas del pago de subsidios. La encuesta se puede accesar ahora en las siguientes URLs:

Centroshttps://healthmanagement.qualtrics.com/jfe/form/SV_enfQLtJqEzuBJCC

Basados en el Hogarhttps://healthmanagement.qualtrics.com/jfe/form/SV_cGYhQ0BYwrNuxWm

DES pide que la encuesta se complete antes del 23 de Abril del 2024 para participar en 3 sorteos de tarjetas de regalo Visa por un valor de $600, $300 y $100. Todas las encuestas deben enviarse antes del 7 de Mayo del 2024.

Si tiene usted cualquier pregunta sobre la encuesta, por favor refiérase a la siguiente información de contacto.

Derek Barber

(517) 993-9229

dbarber@healthmanagement.com

Nosotros agradecemos y animamos encarecidamente su participación en este importante esfuerzo.

Your Voice Matters! Take part in the 2024 Arizona Child Care Market Rate Survey Read More »