Retirement Plan Compliance Calendar

June 30- If you have plan assets invested in Employer Securites, you must file Form 11-K.  July 28- Summary of Material Modification for changes in infromation made during the prior year must be mailed to plan participants. July 31- Form 5500 Annual Return of Employee Benefit Plan must be filed.  If you haven’t gotten your information back to your TPA …

Your annual Social Security Benefit report has dissappeared

As a means of cutting costs, the Social Security Admistration has eliminated the annual mailing of retirement estimates to future Social Security recipients.   In the past, these statements were mailed out three months prior to your birthday, if you had worked enough hours to qualify.  Now to obtain this information you must go online to the “Retirement Estimator” on the …

Executive Bonus Plans: A Fresh Look at a Classic

 By PAMELA DUNCAN Published 6/17/2011  Subscribe to Life & Health As we move into the second decade of the new millennium, we find ourselves in a time of great change.  One thing that has not changed is that employers still need to find ways to recruit, reward and retain key employees in their businesses.  Executive bonus plans remain a simple and …

Empire Blue Cross removing Total Blue options

      As previously communicated, Empire will begin withdrawing Small Group (CDHP)  Total Blue Options 7 and 8 from the market for new business and upon existing groups’ renewal dates, beginning October 1, 2011.  Empire will begin mailing group and member communications this month to fulfill the pre-renewal notification requirement. Small Groups will have the option of purchasing any …

AHIP: Health Savings Account Enrollment Reaches 11.4 Million

WASHINGTON, D.C. – More than 11.4 million Americans are covered by Health Savings Account (HSA)-eligible insurance plans, a more than 14 percent increase since last year, according to a new census released today by America’s Health Insurance Plans (AHIP) finds.  Health Savings Accounts were authorized starting in January 2004.  Since then, AHIP has conducted an annual census of health plans …

The Maze of our Lives, by Doug Dickerson

An empowered organization is one in which individuals have the knowledge, skill, desire, and opportunity to personally succeed in a way that leads to collective organizational success. – Stephen Covey In his book, Harvest of Humanity, John Seamands tells a story of a German soldier who was wounded and ordered to go to a military hospital for treatment. When he …

Warning about delaying Part A Medicare Coverage

There are some agents that advise people to waive Part A Coverage when they become eligible.  While Part A is an entitlement at no cost (assuming you have worked enough quarters in your life) it prevents you from participating in a Health Savings Account.   A recent court decision in Federal District Court rules that any retiree that opts out of …

Obamney Care?

Republican Presidential Hopeful Pawlenty apparently coined this term this past week.  And its has more then a shred of truth to it – The Obama Health Care Reform was patterned after Mitt Romneys plan in Massachusetts for Universal Health Care.  Mitt Romney is a Republican, in case you missed that interesting point.  So how are things in the state of …

Aenta approved for New Medicare Sales

The Centers for Medicare and Medicaid services (CMS) have lifted their sanctions against Aetna Medicare.  They may resume marketing their Medicare Advantage and Prescription plans effective July 1.