Health Insurance Dividend, $15.49 Minimum Wage

December 12, 2024

AMT Dividend Approved

We are pleased to announce that members of NJGCA who are also enrolled in Association Member Trust (AMT) for their health insurance can expect to see a dividend check several weeks from now. The NJGCA sub-trust, made up entirely of NJGCA staff and members, recently approved a distribution of funds back to planholders that we expect will amount to a dividend equal to a full one percent of total premiums paid for calendar year 2024. Planholders must be in good standing on both December 31st, and still be enrolled in February when the payments are made, which we expect will be in the form of a credit on the monthly bill. For some businesses, this dividend may be roughly the same as their annual membership for NJGCA!

There are few healthcare plans available that offer their customers a dividend, AMT does because of its unique structure. AMT is made up entirely of 17 different nonprofit trade associations, and only members of one of the associations may enroll. It is governed by a voluntary Board of Trustees made up of planholders from each association. When company collects more in premiums than it spends, after putting funds aside to maintain a healthy reserve, it gives the remaining money back to its planholders in the form of a dividend. Other companies give that money back to its stockholders and owners. In AMT YOU are the owner. 

While covid hit the whole healthcare system hard, preventing AMT from giving out much in the way dividends the last few years, things are returning to normal again. Careful stewardship since the pandemic is now helping keep premiums stable while other plans are seeing increases.

The start of the new year is the perfect time to reevaluate your healthcare options for your family and your employees. Offering health insurance to an employee is a great way to keep their loyalty and make them skeptical of finding work elsewhere. AMT plans are all Horizon Blue Cross Blue Shield plans, so you can be assured there’s a big network of doctors available. 

Starting January 1st, AMT is also rolling out new vision plans that can be added on to health plans. Several of these plans cost as little as $5 a month per employee. 

If you’re interested in more details you can contact AMT directly at https://amt-nj.com/ or email Marta at MDigesu@amt-nj.com 

Reminder: Minimum Wage Increase for January 1st

As per NJ law, which increases the minimum wage based on inflation, effective January 1, 2025 the minimum wage will be $15.49 an hour, up from the current $15.13. For seasonal and small businesses, the rate increases to $14.53, from the current $13.73. Small businesses in this law are defined as fewer than 6 employees and seasonal businesses are ones in which at least two-thirds of the business’s gross receipts were received in a continuous period of not more than 16 weeks.

Remember, your payroll company will not increase the wage without being explicitly told to so. Also make sure any needed wage increase takes effect by Wednesday January 1st, and not in the first pay period after the new year. If necessary, double check that any overtime rates are set at the new number as well. 

Tell Congress You Need Lower Credit Card Fees

Our allies at the national level are continuing to push for a vote on the Credit Card Competition Act, which would lead to lower interchange fees for all businesses in the state. As part of their efforts, they are asking every individual business to sign onto a letter asking Congress to pass the bill. The feedback they have gotten so far is that it has been one of the most effective actions they’ve taken so far, since it proves that this is a fight between local small businesses and 30 of the largest banks in the world. You can add the name of your business HERE. 

Reconciliation in DC

Our friends at the national Service Station Dealers Association (SSDA) recently wrote a good explainer on the process of “reconciliation” in the US Senate. It’s a term you can expect to hear a lot in the next two years, since legislation that fits the rules of the reconciliation process is allowed to pass with the votes of just 50 Senators and the Vice President, while most other legislation in the Senate needs to beat a filibuster, which means 60 votes (there are going to be 53 Republican Senators next year). This will affect everything from tax policy to immigration rules to energy policy. You can read it HERE. 

Rack Averages

News Worth Knowing:

Member Benefit Partner (MBP) Spotlight: Gill Energy  

Gill Energy is proud of the partnerships it has developed with the biggest petroleum brands in the world. With over 25 years of experience as a successful retailer of branded and unbranded fuels, the firm brings a unique perspective to its wholesale business operations. Those that choose Gill Energy as their fuel distributor know that they will get premium service, competitive rates on fuel and freight and reliable supply. The team at Gill Energy is driven by its passion for exceeding the expectations of each and every one of its customers and helping them realize their business’s true potential. The firm was able to provide 90% of its retail customers with fuel during Hurricane Sandy, an accomplishment that was recognized by major media outlets such as Bloomberg News and The New York Times and solidified the firm’s reputation for reliability and premium customer service. We distribute Sunoco, BP, Amoco, Exxon, Mobil, Sunoco, Shell, Conoco, Phillips 66, Gulf and unbranded fuel.

Contact: Kashmir Gill 

Phone: 973-713-4050 

kashmirgill@gillenergy.com 

www.gillenergy.com

Available Real Estate

Cape Harbor Shell

**Price Reduction**

795 Route 109, Unit B, Lower Township, NJ, 08204

Contact: Jerry 609-425-8837 capeharborshell@comcast.net 

Station for Sale

Thriving High Profit Gas/Service Station close to Major Highway in Prime Location. 

This Exclusive Gas Station is the Sole Provider in the entire town, achieving a remarkable fuel profit of up to and sometimes over 1$ a gallon. Consistently selling 45,000 gallons monthly. Most fuel customers come from Highway so fuel prices do not have to be competitive. 

Also included with the Property is a Reputable High End Auto Repair Facility. Repair shop has all required Specialty and Diagnostic Tools for servicing mostly High End Vehicles. Advertising is no longer used do to an enormous Demand and large Customer Base. Repair Business has has potential for increased profitability and expansion, the business is open to experienced buyers for a possible partnership or profit sharing arrangement. Location is 1 out of 100. Fuel sales make 20-40K a month and repairs can do the same with the right operator. 

This one of a kind opportunity can include seller financing for those with High-Level Automotive or Gas Station Experience.

Contact Greg
908-291-7845

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