Child Tax Credit
under Child Tax Credit
The Child Tax Credit is a tax relief for parents and guardians who look after children who qualify under the provisions of the tax program. These tax credits are deducted from the taxpayers’ total amount of taxes to be paid to the Federal government. Basically, the Child Tax Credit reduces tax liability.
To be qualified in the child care credit exemption, an applicant must have at least one qualifying child and must generate income under a certain limit, depending upon the applicant’s tax filing status (e.g., single, married, filing jointly, etc.).
COBRA
under COBRA
The Consolidated Omnibus Budget Reconciliation Act, also known as COBRA, is a health provisions policy that was enacted in 1986. This law was passed during the Ronald Reagan administration. COBRA provisions include several changes to the Employee Retirement Income Security Act of 1974 (ERISA).
COBRA benefits give former employees and their immediate families the right to enjoy continuous medical insurance and health coverage offered by their companies even after termination.
COBRA only covers an initial insurance premium plan that has 20 or more employees working at least half of the year at the time of termination. This includes both full and part-time workers.
Disaster Relief
under Disaster Relief
Managed by the Federal Emergency Management Agency (FEMA), the Disaster for Individuals and Families program provides disaster aid to people, families, and businesses that have been affected by disasters. Covered by this disaster relief fund are houses and properties that were destroyed and losses not covered by insurance.
The disaster aid that comes from the Disaster for Individuals and Families comes in the form of money or immediate assistance directly given to the beneficiaries. There are different types of immediate assistance from the disaster relief fund. Depending on the current need of the affected, FEMA can provide the following during any disaster:
Early Head Start
under Early Head Start
Early Head Start is a pre-natal / infant-cored program funded by the federal government. The program was formed in 1994 when the Secretary of Health and Human Services created an Advisory Committee on Services for Families with Infants and Toddlers. The committee’s primary function was to design the program.
Early Headstart aims to provide assistance to pregnant women and low-income families with infants and toddlers. The program’s goals revolve around the following:
• To promote healthy prenatal outcomes for pregnant women;
• To improve the development of very young children, and;
• To promote healthy family functioning.
Earned Income Tax Credit
under Earned Income Tax Credit
The Earned Income Tax Credit is a tax deduction that is given to low income working individuals and families. This tax credit policy was enacted in 1975 during the Reagan Administration and underwent several changes in 1990, 1993, and 2001.
The Earned Income Tax Credit is a refundable federal income tax credit, which means that if the earned income credit exceeds the amount of taxes owed, it results in a tax refund for those who claim and qualify for the credit.
Food Stamps / Snap
under Food Stamps / Snap
The Food Stamps Program is an assistance project designed to provide food purchasing aid for individuals who live on low income. A food stamp works like a debit card from a bank.
Qualified individuals can get food stamps from the local Department of Health and Human Services (DHHS) and use them to buy food at most grocery stores in the United States. The benefits of food stamps not only affect the low income families who are in need of money to buy food, but the local economy as well.
Headstar
under Headstar
Headstart is a United States Department of Health and Human Services program that focuses on giving complete education, health, nutrition, and parent involvement services to low-income children and their families. The Head Start program initially started out as a component of the late President Lyndon B. Johnson’s War On Poverty program in 1965.
The Head Start program continues to serve and cover the educational and health needs of children in the United States. Since 2005, over 22 million pre-school aged children have been provided with quality education and other benefits through the Head Start education project. Other milestones achieved by the Head Start education project include the construction, operation, and maintenance of over 48,000 classrooms in all states (nearly in every county).
Liheap
under Liheap
Energy is an important part of daily living. The lack of energy to cool or heat one’s home can lead to health and safety hazards and problems. However, there are people who live on a modest income and are therefore are in need of energy assistance to keep their homes comfortable and safe.
The Low Income Home Energy Assistance Program, or LIHEAP, provides financial support to low income families for their heating and cooling payments. Established in 1981, LIHEAP continues to provide energy assistance to qualified families through annual funding by the House of Congress.
Medicaid
under Medicaid
Medicaid is a health insurance program designed to cover families and individuals who live on a low monthly income. Managed by the states and funded by the federal government, Medicaid insurance gives additional support for parents with low income, children, seniors, and people with disabilities.
Established on July 30, 1965 through the the Social Security Act, Medicaid covers dental services, tuberculosis, sickle cell disease, and likewise includes special services for breast cancer. Medicaid also has a program that covers mental health services. In fact, Medicaid is the sole largest spender for mental health services in the United States – providing services and support for 58 million adults and children.
CHIP/SCHIP
under CHIP / SCHIP
Established in 1997, the State Children’s Health Insurance Program, also known as CHIP/SCHIP, was formed as part of a larger bill, the Balanced Budget Act. The aim of CHIP health insurance is to cover the medical and health expenses of uninsured families with children all over the United States. Initially, CHIP/SCHIP was designed to provide for the care of uninsured children of families with modest incomes but who are not eligible for Medicaid qualification.
The CHIP insurance program was sponsored by Senator Ted Kennedy and received heavy support from former President Bill Clinton and former First Lady Hillary Rodham Clinton. Before its creation, over 10 million children in the United States did not have insurance. Now there are 5 to 6 million children enjoying the protection provided by the SCHIP insurance.