Aetna goes to paper ID Cards

  Released by Aetna on 3/22: We want you to know about a change we’re making to our medical plans in 2017. This information will help notify your clients and their members about this change.

HSA Update -why you should be using them!

Great article byLoretta Metzger, Employee Benefit Advisor, 3/13/17 As the cost of healthcare zooms upward, many employers are shifting to high-deductible health plans, which include a lower monthly premium and, as the name implies, a higher deductible. In 2016, 29% of all insured employees were enrolled in HDHPs — an increase of 9% since 2014, according to Kaiser Family Foundation. …

What to do With Your Tax Refund

Instead of just spending the money, you could plan to pay yourself. Provided by Reeve Conover – Conover Consulting About 70% of taxpayers receive sizable refunds from the Internal Revenue Service. Just how sizable? The average refund totals about $2,800.1 What do households do with that money? It varies. Last year, consumer financial services company Bankrate asked Americans about their …

The Collapse Of ObamaCare

On November 7, 1940, Gallopin’ Gertie collapsed.  If you are not familiar with the story, there is a great video clip of the failure in Tacoma, Washington.  The bridge was only open for 130 days.  “From the time the deck was built, it began to move vertically in windy conditions.  Despite numerous warnings,  officials decided to open the bridge anyway.  …

Do you allow your employees to waive coverage? Read this!

In Notice 2015-87, the IRS addressed the impact of employer opt-out payments — payments made to employees who decline enrollment in an employer’s group health plan — on affordability for ACA purposes. Employers who do not offer group health coverage that is affordable as defined under the ACA risk significant penalties. For 2016, group health coverage is considered affordable if …

Tanning Industry blames ObamaCare for collapse.

It could just be the cyclical nature of fads like tanning.  it could be the health consequences.  However the tanning industry is blaming the 10% tax placed on them by ObamaCare for loss of more than half the tanning salons, and 81,000 jobs in the country in the past few years.  (The cynic in me wonders how many of those …

Medicare Part D Notices required by 10/14

Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable. Plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals before Oct. 15, 2016-the start date of the annual …

Excessive Retirement Plan Fees

As an Accredited Investment Fiduciary, this is the compliance area that worries me the most.  In the last week, notice of suit has been filed against Everett Jones, Cornell University, Northwestern University, Columbia University and the University of Southern California.  These suits allege excessive fees, and alot of that comes from requiring “proprietary funds” in the plan.  A clear example of this …