Leveraging Generational Factors for Overall Success | Employee Benefits

No matter what your office looks like—in a gig economy or a more traditional one, with or without AI—interviews will be a part of the culture. Learning about best practices benefits everyone, whether you are the interviewer or the interviewee. Especially at busy times, it can be easy to forget that an interview isn’t simply … Continued

Be Ready for More ACA Penalties | Employee Benefits Agency

The recent barrage of letters sent by the IRS proposing penalties under the Affordable Care Act (ACA) may be petering out, but a new round is expected later this year. Employers need to be prepared. Several lessons can be learned from the more than 300,000 proposed-penalty letters sent by the IRS this summer and late … Continued

Addressing Mental Health Care at Work | Employee Benefits Advisors

  Nancy Spangler, senior consultant at the Center for Workplace Mental Health of the American Psychiatric Foundation, says that one in five adults has a mental health disorder, and one in 10 has a substance abuse problem. In addition, major depression and its associated conditions cost the U.S. over $210 billion every year. Clearly, mental … Continued

Final Rule on Short-Term Limited-Duration Insurance | Employee Benefits Agency

On August 1, 2018, the Internal Revenue Service, the Department of Health and Human Services (HHS), and the Department of Labor (collectively, the Departments) released a final rule that amends the definition of short-term, limited-duration insurance. HHS also released a fact sheet on the final rule. According to the Departments, the final rule will provide … Continued

6 Reasons Self-Funded Plans Are Gaining Popularity

  Since the ACA was enacted eight years ago, many employers are re-examining employee benefits in an effort to manage costs, navigate changing regulations, and expand their plan options. Self-funded plans are one way that’s happening. In 2017, the UBA Health Plan survey revealed that self-funded plans have increased by 12.8% in the past year … Continued

Price Shop Healthcare | Minnesota Employee Benefits

As the costs of health care soar, many consumers are looking for ways to control their medical spending. Also, with the rise of enrollment in high deductible health plans, consumers are paying for more health care out-of-pocket. From medical savings accounts to discount plans for prescriptions, patients are growing increasingly conscious of prices for their … Continued

Qualified Small Employer Health Reimbursement Arrangements, Part 2

In December 2016, President Obama signed the 21st Century Cures Act into law. The Cures Act allows small employers to offer Health Reimbursement Arrangements (HRAs) to their workforce to help cover the cost of medical expenses and health insurance premiums for themselves and their families. Previously, the Affordable Care Act (ACA) prohibited businesses from offering … Continued

Qualified Small Employer Health Reimbursement Arrangements, Part 1

The name is cumbersome, but Qualified Small Employer Health Reimbursement Arrangements (“QSEHRA”) represent a real policy change that could benefit small employers. There has been a recent development and the government has issued an extension of period for furnishing written QSEHRA notice to eligible employees. You can read all about that on our Wisdom Bank … Continued

UBA Update

EXTENSION OF PERIOD FOR FURNISHING WRITTEN QSEHRA NOTICE TO ELIGIBLE EMPLOYEES Under the 21st Century Cures Act, small employers who want to reimburse individual health coverage premiums through HRAs called “Qualified Small Employer Health Reimbursement Arrangements” (QSE HRAs) must provide annual written notice to all eligible employees no later than 90 days before the beginning … Continued

What is Critical Care Insurance?

Critical Illness insurance, also referred to as Critical Care insurance or Critical Illness coverage, provides a lump-sum cash benefit to help cover expenses associated with a qualifying serious illness. Critical Illness can strike at any time. We’ve all heard stories of friends or family members who have been affected by a serious illness. What we … Continued