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Tag: insurance
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The Rap on Wraps | PA Employee Benefit Advisors
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in ACA, ALEs, benefits, COBRA, Compliance, dental, dental health, Employees, Employers, ERISA, form 5500, Reporting, SPDs, vision, wrap documentThere’s a good chance you use a wrap document to help satisfy your Employee Retirement Income Security Act (ERISA) summary plan description (SPD) obligations. Yet if you look for a definition of wrap document in ERISA statutes or regulations, you will not find one. The wrap is not a defined term or required document; it…
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A DOL Audit Can Happen to You | Duncansville Benefit Consultants
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in 401k, DOL, DOL audit, ERISA, health, Latest News, Pennsylvania, Philadelphia, SPDs, ThinkHR, welfareSummary plan descriptions (SPDs) are required for all retirement, health, and welfare plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). However, misconceptions about this requirement are widespread. ERISA attorney Stacy H. Barrow, partner with Marathas Barrow Weatherhead Lent LLP, had a chat with ThinkHR about the importance of having proper ERISA…
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Price Shop Healthcare | PA Employee Benefit Brokers
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in benefits, budgets, Financial Planning, Financial Wellness, health, Health Care, Health Insurance, Health Insurance Providers, Health Savings Account, HRA, HSA, Insurance, Juvenile Life Insurance, Latest News, Medical Savinfgs Accounts, Medical Savings Accounts, Medicare, Pennsylvania, Philadelphia, WellnessAs 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…
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Here’s Where #FOMO Is Doing You a Disservice | Duncansville Benefit Advisors
Fear of missing out—is more than just a hashtag. Many Millennials admit that #FOMO drives a lot of their decisions on what they wear, what they do, even what they eat and drink. We live in a world of social influence. But one area where #FOMO really does you a disservice? No one is afraid…
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Ask the Experts: Do company owners need to fill out a Form I-9? | Pennsylvania Benefit Advisors
Question: Do company owners need to fill out a Form I-9? Answer: The owner of a business will need to complete a Form I-9 to document the legal right to work in the United States if the owner is employed by the business and takes a salary or other form of compensation, including food and lodging. This…
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New Tax Breaks for Health Plans | Pennsylvania Benefit Advisors
Last week’s drama that shut down the federal government, then un-shut it three days later, was settled when agreement was reached on a Continuing Resolution. Included in the resolution are three tax breaks of particular interest to employers that offer group health coverage to their workers. Cadillac Tax: Delayed until 2022 The Affordable Care Act…
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Driving in to 2018 | PA Benefit Advisors
How Changes to the Mileage Reimbursement Rate and Qualified Transportation Benefits Will Impact Employers in 2018 On December 14, 2017, the Internal Revenue Service released the 2018 standard mileage rates used to calculate deductible costs of operating vehicles for business purposes. The rate increased by one cent from 53.5 cents in 2017 to 54.5 cents…
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Utilize FSA Monies with Key Year–End Strategies | PA Benefit Advisors
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‘Tis the Season’. Like most, you ‘re probably in the midst of the “hussle and bussle” of this holiday season with dinners, parties, and activities; Christmas shopping; and spending those remaining FSA dollars you have allocated this year. Wait, what? Yes, you read right. Chances are, if you’ve opted to utilize an employer-sponsored FSA account…
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You Think You Won’t Qualify for Life Insurance, but You’re Wrong | PA Benefit Advisors
Think you can’t qualify for life insurance? Think again. You want to protect your loved ones for the future once you’re no longer around to provide for them. We all do. Life insurance gives you that peace of mind that your family will be taken care of after you’re gone. However, you’re also worried that…
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3 Reasons You May Still Need Life Insurance as You Head Toward Retirement | PA Benefit Advisors
Let’s be realistic. If you have an adequate investment and pension portfolio; if you have made provisions for your health care costs; if you have no one relying on you for financial support, maybe, just maybe you can afford to retire. Did you know that a healthy 65-year-old man has a life expectancy of 87…
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