Producers

Posted March 26th, 2019 in Employers, Producers

Simple Cafeteria Plans were created by the Affordable Care Act (ACA) and have been an option for eligible employers since 2011. This type of plan provides eligible employers with an automatic pass for many of the non-discrimination tests that apply to Cafeteria Plans and its component benefits. This is the primary difference between a Simple Cafeteria Plan and other more traditional Cafeteria Plans. 

Posted March 21st, 2019 in Employers, Producers

That flu shot you're providing to employees. Are you offering it as a benefit to COBRA beneficiaries? Because you should be.

While COBRA is conceptually easy to understand, it is tactically more challenging to administer. Many employers are unaware that certain benefits are subject to COBRA. On the other hand, some employers are offering COBRA in situations which they don't have to because of a misunderstanding of the law.

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Posted March 19th, 2019 in Producers, Individuals

There are some big changes coming to Medicare Supplement plans in 2020. Plans C, F and High Deductible F will no longer be available for new Medicare enrollees.

In other words, if you become eligible for Medicare on or after January 1, 2020, you won’t be able to enroll in Plans C, F or High Deductible Plan F. However, if you are already enrolled in one of these plans, you’ll be grandfathered into that coverage and can keep that plan in place indefinitely.  

Posted March 12th, 2019 in Employers, Producers, Individuals

Health Savings Accounts (HSAs) have seen tremendous growth in the past decade and are quickly becoming one of the most popular employee benefits. These accounts allow individuals who are enrolled in a Qualified High Deductible Health Plan to use tax-free dollars to pay for out-of-pocket healthcare expenses for themselves and their families.

Posted March 5th, 2019 in Employers, Producers, Individuals

When talking about Health Flexible Spending Accounts (FSAs), you may hear the terms carryover, grace period and run-out period, but what do they mean and how do they differ? Here are some simple explanations of each term.

Posted February 27th, 2019 in Producers

In the continued war for talent, employers increasingly rely on benefits to help differentiate their organization and attract and retain better employees. Brokers have long played a critical role in this battle, helping employers build a better benefits package. But in today’s fast-changing workplace, a broker’s expertise on the multiple challenges their clients face is just as important as knowledge of the complicated benefits market.

Posted February 19th, 2019 in Employers, Producers

Over the years, HSAs have been touted as a way to pay for out-of-pocket medical expenses with tax-free dollars. However, recently HSAs have been making headlines as an alternative to 401(k) plans and other retirement plans.

Posted February 13th, 2019 in Employers, Producers, Individuals

The term “Medicare for All” has been making headlines recently. Democrats across the country have made this concept a central part of their platforms, and polls have shown that more than half of Americans are in favor of it.

But what does it really mean? Well, the best answer is that it means different things to different people.

Posted February 5th, 2019 in Employers, Producers

Annual Medicare Part D reporting is required for all employers who provide health benefits with prescription drug coverage. The reporting is an online filing to the Centers for Medicare & Medicaid Services(CMS), and it lets CMS know if the prescription drug coverage available on the employer’s health plan is “creditable.”

Posted January 31st, 2019 in Producers, Employers

A stand-out strategy for small businesses:  Voluntary benefits enable small companies to do more with less

The competition for talent is fierce for small businesses. One in four say the talent pool for their open positions is poor, [1] and the Society for Human Resource Management lists retaining employees as one of the top three issues facing companies with 3-99 employees (along with employee productivity and controlling health insurance costs).[2]

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