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Tag: PA benefit advisors
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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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The Importance of Therapeutic Communication in Healthcare | PA Benefit Advisors
The quality of a therapeutic relationship depends on the ability of the healthcare provider to communicate effectively. The term “therapeutic communication” is often used in the field of nursing; however, the process isn’t limited to nursing. Other healthcare professionals, friends and family members of a patient can implement the strategies of communicating in a therapeutic…
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What Are Some Pros & Cons of HIPAA? | PA Benefit Advisors
Congress approved the Health Insurance Portability and Accountability Act (HIPAA) to guard the privacy of personal medical information, and to give individuals the right to keep their health insurance coverage for pre-existing conditions in place even if they change jobs. The law has done this, providing important safeguards for patients. But it has also increased…
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How to Make the Most Out of Your FSA at Year-End | PA Benefit Advisors
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As 2017 comes to a close, it’s time to act on the money sitting in your Flexible Spending/Savings Account (FSA). Unlike a Health Savings Account or HSA, pre-taxed funds contributed to an FSA are lost at the end of the year if an employee doesn’t use them, and an employer doesn’t adopt a carryover policy.…
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Ask the Experts: Can a well qualified older candidate fit on a much younger team? | PA Benefit Advisors
Question: We recently interviewed an older candidate for a position. She’s well qualified, but the team she would be working with is made up of people who are much younger, and we are worried about how she will fit in. Can the criteria to hire for cultural fit outweigh potential age discrimination concerns? Answer: Your…
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Benefits of Secondary Health Insurance | PA Benefit Advisors
Secondary health insurance is a type of policy that is used to cover medical expenses that have not been covered by your primary insurance plan. Typically, a person will have secondary medical insurance by being covered as a dependent under another family member’s plan. Secondary health insurance is usually optional and can provide several benefits…
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IRS Announces 2018 Retirement Plan Contribution Limits | PA Benefit Advisors
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On October 19, 2017, the Internal Revenue Service (IRS) released Notice 2017-64 announcing cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items. The following is a summary of the limits for tax year 2018. For 401(k), 403(b), and most 457 plans and the federal government’s Thrift Savings Plans: The elective deferral (contribution)…
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Are You Ready to Electronically Report Injuries and Illnesses to OSHA? | PA Benefit Advisors
December 1, 2017 is the deadline for certain employers to use the Occupational Safety and Health Agency’s (OSHA) Injury Tracking Application (ITA) portal to report information from their 2016 Form 300A regarding employee illnesses and injuries. We previously reported (Breach Forces OSHA to Shut Down Reporting Portal) that OSHA suspended employer reporting through the ITA…
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President Directs Federal Agencies to Consider ACA Changes | PA Benefit Advisors
On October 12, 2017, President Trump issued an Executive Order directing the Departments of Labor (DOL), Health and Human Services (HHS), and Treasury to develop new rules to allow some exemptions from the Affordable Care Act (ACA). The Order indicates the Administration’s priorities although it has no immediate effect since any rule changes must first…
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IRS Releases Final 2017 ACA Reporting Forms and Instructions | PA Benefit Advisors
The IRS has finalized the forms and instructions that employers will use for 2017 reporting under the Affordable Care Act (ACA). Applicable large employers (ALEs) will use the following: 2017 Form 1094-C (transmittal to IRS). 2017 Form 1095-C (statement to individual). 2017 Instructions for Forms 1094-C and 1095-C (instructions). Employers that self-fund a minimum essential…
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