What Are Catch-Up Contributions Really Worth?

What degree of difference could they make for you in retirement? At a certain age, you are allowed to boost your yearly retirement account contributions. For example, you can direct an extra $1,000 per year into a Roth or traditional IRA starting in the year you turn 50.1 Your initial reaction to that may be: “So what? What will an …

Could one State have no insurers next year?

The promise of Obamacare smells the worst in the state of Alaska, where three insurers have pulled out this year and will not offer coverage for January 1.    And Governor Walkers office states the remaining insurer “Premera Blue Cross Blue Shield, would have to pull out or pass costs on to customers if the state does not offer relief.” …

Family Healthcare Costs top $25k

Employee Benefit Adviser:  Healthcare costs for a typical American family in 2016 surpassed $25,000 for the first time, according to new data out this week, spurred by rising prescription drug costs and a reduction in employer contributions. The $25,826 in healthcare costs for a typical family of four covered by an employer-sponsored preferred provider plan is $1,155 higher than last …

You’ll be surprised at how much this one mistake can cost you

From Employee Benefit Advisor There has been a long-standing rule that employers are prohibited from offering an incentive of any kind to an individual who is Medicare-eligible to enroll in Medicare in lieu of the employer’s group health plan.   Encouraging your older employees to leave your plan and financially incenting them to do so can cost you – big …

EEOC Wellness Plans- Part 2

13. How does an employer calculate incentive limits when an employer has more than one group health plan but offers a wellness program that does not require employees to participate in a particular plan? When an employer offers more than one group health plan but participation in a wellness program is open to all employees regardless of whether they are …

EEOC Final Wellness Program Rules – Part 1

On May 17, 2016, the Equal Employment Opportunity Commission (EEOC or the Commission) issued a final rule to amend the Regulations and the accompanying Interpretive Guidance (also known as the Appendix) implementing Title I of the Americans with Disabilities Act (ADA) as they relate to employer wellness programs. A notice of proposed rulemaking was previously issued on April 20, 2015. …

Buckle UP! Higher Premiums, less choices…

We are in the month of May, and that means insurance carriers have filed their premiums for individual coverage for 2017, and are awaiting approval from the various states.  As information begins to leak out, what we are seeing is, well, scary.  In an article on May 16 in Money Magazine, The Motley Fool reports that everything so far has …

Republicans win an Obamacare Battle – about funding…

WASHINGTON — Republicans won the first round Thursday in a separation of powers battle against President Obama that once again focuses on his most prized achievement: Obamacare.Federal district Judge Rosemary Collyer, a Republican appointee, ruled that the law did not provide for the funds insurers need to make health insurance policies under the program affordable.While the law provides for tax …