Benefits Buzz

Posted July 24th, 2018 in Producers
Last week, we discussed the role that General Agents play in the insurance industry and how they provide value to brokers. This week, we’d like to clear up some of the biggest misconceptions about working with a General Agent (GA).
 
Posted July 19th, 2018 in Producers

Did you know that a General Agent helps brokers make more money and doesn't cost a penny to the broker? Even after 30 years in the business, we sometimes get confused looks when we tell people that we’re a General Agent. As it turns out, not everyone fully understands the wide range of services provided by General Agents or the value that they bring to insurance brokers. For brokers who don’t currently work with one, there are often misconceptions about why General Agents exist, how they operate and how they get paid. Well, we’d like to take a minute to clear up any confusion.

Posted July 17th, 2018 in Employers, Producers

Many of you are familiar with the reinsurance fees that were charged to health insurance plans from 2014 to 2016, but you may not be as familiar with the risk adjustment program. The risk adjustment program was authorized under the Affordable Care Act (ACA). This permanent program is intended to protect against adverse selection and risk selection in the individual and small group markets (inside and outside of the Exchanges).

Posted June 19th, 2018 in Employers, Producers, Individuals

A lawsuit contesting the legality of the Affordable Care Act (ACA), also known as Obamacare, is starting to gain a lot of attention. Last December, the Tax Cuts and Jobs Act was signed into law. Part of this law made the penalty under the Individual Mandate $0 starting in 2019. Technically the Individual Mandate is still in place, but there will no longer be any penalty under federal law for failing to health insurance.

Posted June 15th, 2018 in Employers, Producers, Individuals

The Tax Cuts and Jobs Act signed into law last year wiped out the federal penalty for not having health insurance (a.k.a. the Individual Mandate) starting in 2019. Some state officials are concerned that the elimination of the penalty could destabilize their local insurance markets, and they have responded with their own Individual Mandate requirements.

Posted June 13th, 2018 in Employers
The Society for Human Resource Management (SHRM) is holding their annual conference and exposition in Chicago from June 17-20. 
 

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