To The Point Podcast

These changes specifically impact the Form 1095-B & Form 1095-C distribution deadline and good faith transition relief. Be sure to listen in to the important information shared in this podcast.

Join us and listen to this podcast for reminders on what needs to be done before the end of 2021, and how to start preparing for specific tasks in 2022.

Tuning-in, you'll hear from two speakers on trending topics and more.

Bob Radecki is president, senior regulatory and public policy analyst at Benefit Comply, LLC, an employee benefits compliance consulting firm. Bob will discuss the end of the 100% COBRA subsidy authorized under the American Rescue Plan Act, health cost transparency rules and surprise billing regulations, vaccine incentives and mandates, and more opportunities for consideration of Individual Coverage HRAs (ICHRAs).

Joel Wood is the senior vice president for government affairs of The Council of Insurance Agents & Brokers and also oversees CouncilPAC, the association’s political action committee. Joel will share his unique perspective on the Supreme Court’s ACA decision and thoughts on the Biden Administration’s health insurance goals, public options at the State Level, 2022 Elections and possible outcomes’ impact on legislation, as well as comment on cost transparency related to health cost transparency rules and recent surprise billing regs.

Productivity Consultants & Career Support Services (PCCSS) was founded in 1999 as an image-consulting firm that focused on career and personal branding. Since then, the organization has evolved into a boutique human capital and career development firm designed to facilitate change management for individual and organizational clients.

Based on the belief that human learning, training, and performance improvement initiatives should lead to quantifiable outcomes, the organization focuses on analyzing the performance challenges for individuals and within private and non-profit organizations as they relate to productivity and success.

Learn more: https://productivityconsultants.org/index.php

Listen in to this episode as we discuss what can and cannot be part of an employer’s vaccine policy, where restrictions or limitations may exist and, surprisingly, where they do not, and other considerations to take into account.

At OneVillage, they provide a space for everyone that has been touched by cancer.

Over the course of their lifetime, 40% of people will be diagnosed with cancer, and the remaining 60% will support at least 4 loved ones through cancer. OneVillage is one place to find the resources, products, community, and support you need when cancer enters your life.

Learn more: https://onevillage.io/

As a result, Congress enhanced the FFCRA leave under ARPA to include paid leave related to the vaccine, among other enhancements, and extended the payroll tax credits even further. Listen to this conversation to learn how else the FFCRA was updated and what you need to know.

The subsidy will cover the full cost of COBRA or state continuation premiums from April 1st, through Sept. 30, 2021 if the employee lost or loses group health insurance due to a reduction in work hours or an involuntary job loss. Be sure to listen to this episode to better understand who is eligible and the various employer obligations associated.

Let’s face it – navigating the HR technology market is complex. Advisors need help educating and guiding employers. With BTR’s Core Service offering, they aim to increase your agency’s tech “fluency” and provide the technology foundation you need to empower and educate your client base.

ENGAGEMENT

• CE-accredited webinars tailored for employers
• Agency-specific learning workshops
• Dynamic communication campaigns & client-facing marketing materials
• Preferred access to Consulting and Benefits Administration services

KNOWLEDGE

• Access to BTR’s centralized database for competitive technology and vendor intel
• Vendor summaries, conference recaps, blog posts, and white papers
• Quarterly technology updates
• Showcase of agency’s ROI via monthly utilization reports

STRATEGY

• Assigned, dedicated HR technology consultant and project manager
• Monthly collaborative strategy calls
• Market research
• Strategy discussions with prospective clients

This gives companies an enticing benefit that uniquely serves every employee in the organization. And it all works within the system you have in place today.

It’s savvy to reduce PTO balance sheet liabilities while enhancing talent recruiting and retention. In simple terms, it pays off for both HR and Finance. Both will appreciate the returns for enhancing PTO benefits and reducing corporate liability.

To learn more, please contact Lipscomb & Pitts Insurance's Director of Client Engagement, Betsy Kamler at betsyk@lpinsurance.com or 901-321-1000.

Rain provides a modern approach to payroll for mid-sized organizations, a benefit that has already been rolled out for companies like Walmart and Uber. Their mission is to regrow individual freedom by giving people control over their income and finances. 

Rain is killing predatory financial products like payday loans and overdraft fees. They're backed by QED, a leading venture capital firm based out of Alexandria, Virginia, who has invested in notable companies like Credit Karma, ClearScore, Creditas, and many more. 

Rain's founders are highly experienced and excited about bringing greater financial freedoms to American workers and being a large part of the movement to end payday loans with high interest rates. Last year, Americans spent $170B while waiting for their next paycheck. Fees for payday loans, credit cards, overdrafts, and low balances add up. 

72% of Americans who are living paycheck-to-paycheck are stuck in this debt trap and could benefit from early wage access. How does Rain work? Rain is easy for employers to implement. When an employer agrees to work with Rain, employees are invited to download the free Rain Instant Pay app from the Apple or Google app store. The employees will have early access to portions of their wages. 

Alcohol is the most used substance by youth and adults in the United States. According to the National Institute of Health’s 2020 Monitoring the Future Survey, 55.3% of high school seniors used alcohol in the past year. Results of the 2019 National Survey on Drug Use and Health (NSDUH), demonstrated that 85.6 percent of people ages 18 or older reported that they drank alcohol at some point in their lifetime; 69.5 percent reported that they drank in the past year; 54.9 percent reported that they drank in the past month. In 2019, 25.8 percent of people ages 18 or older reported that they engaged in binge drinking in the past month; 6.3 percent reported that they engaged in heavy alcohol use in the past month. Alcohol is the third leading cause of preventable death in the United States. About 95,000 Americans die from alcohol-related causes each year.

While the Consolidated Appropriations Act (CAA) favorably addressed options for employers to extend to employees with year-end balances in their health and dependent care flexible spending accounts, the Act left many questions unanswered in regard to the mechanics and potential tax consequences of these accommodations. 

However, in true government fashion, on the last business day before Feb 28th, the DOL released clarification of their guidance indicating that the timelines actually apply on a case-by-case basis. Listen in while our ERISA attorney unpacks what this means and how employers should handle it.

Every March, Lipscomb & Pitts Insurance recognizes Colorectal Cancer Awareness Month. In the United States, colorectal cancer is the third-leading cause of cancer-related death in men and women. This cancer affects adults of all racial and ethnic groups, however, it is most often diagnosed in people who are over the age of 50. Colorectal cancer is treatable when it is discovered early.

Learn more at www.westcancercenter.org

Many American households have at least one pet. In any given year, one in three of these beloved family members will need costly veterinary care, even if it is for routine exam visits and vaccinations. Should a pet become severely ill and need emergency care, costs can sometimes be more than pet owners can bear. However, if they have pet insurance, owners will never have to make a decision about their pets wellbeing based on cost.

Though pet insurance is a nontraditional benefit and is generally paid for by the employee, it is becoming increasingly popular in the workplace to help employees care for their pets without going bankrupt. This benefit is particularly valuable, as pet care is increasingly expensive. In fact, offering insurance for man’s best friend is a great marketing and PR initiative for companies that want to add to their image of being a great place to work.

Pets typically visit the vet for the following reasons:

• Accident care
• Illness care
• Routine preventive care
• Lab work
• X-rays
• Surgeries
• Diagnostic testing
• Prescription therapy

These services are the same or similar to the reasons why you or your employees would visit the doctor, and often carry a steep price tag. Specifically, here are the typical costs for the following common pet injuries and illnesses:

• Dog involved in a motor vehicle accident = $4,890
• Dog or cat ingesting a foreign body = $4,280
• Dog cancer treatments = $3,570
• Dog bladder infection treatment = $2,760
• Dog hip dysplasia = $2,390
• Cat fractured leg = $2,300
• Cat pneumonia treatment = $1,900
• Cat diabetes treatments = $1,740

Coverage Details

• Employers sign up for a group discount code that can be used by their employees, typically without a minimum enrollment number required. Then, pet owners can select a coverage percentage or monthly premium that will work best for their budget and needs. Under the policy, the pet must have an annual examination and the owners must adhere to the recommendations given by the veterinarians to remain covered. Beyond that, most policies do not cover existing conditions or injuries but do assist in paying for the following:
• New accidents and injuries
• X-rays
• Surgeries
• Cancer care
• Prescriptions
• Hospitalization
• Vaccinations
• Heartworm therapy
• Flea control
• Urinalysis
• Dental care
• Spay/neuter

Compare Your Options

If your organization is considering this benefit for your employees, consider asking the pet insurance companies the following questions before making your selection:

• How long has your company been in business?
• Is coverage available in our area?
• Is coverage available where our employees may travel?
• Can employees use any veterinarian and animal hospital?
• Do you offer discounts for multiple pets?
• What are your customer service hours and availability?
• What are the coverage plan options available to employees? What are the deductible options?
• What is the average annual premium increase?
• Can our company lock in a premium rate?
• Is there a penalty for changing plans?
• Is preapproval for services required?
• What are the limits to the policy? Lifetime caps?
• Can employees find out the insurance reimbursement before authorizing their pet’s veterinarian to perform procedures?
• Do reimbursement amounts vary depending on the specific veterinarian’s fees?
• Can pets be dropped from the coverage? If so, why?
• What is the claims filing process?
• How long does it typically take to receive payment for a claim?
• How are claim disputes resolved?
• How does the policy determine reimbursement for claims?
• Is there a maximum amount paid per procedure? Per calendar year? Per disease?
• What diseases are excluded from the policy coverage?
• Are there breed-specific diseases excluded from the policy coverage?
• Are pre-existing conditions covered after a certain amount of time?
• Are alternative medicine techniques covered?
• Are consultations with specialists covered? Second opinions? After-hours emergency care?
• Does the policy provide coverage for behavioral problems?
• Is preventive care covered (vaccinations, heartworm testing, spaying/neutering, dental work, flea/tick control, microchipping, etc.)?

If you are considering offering this benefit to your employees, visit www.petinsurance.com. 

Sometimes it can trigger a COBRA event, but other times it may lead to early termination of COBRA. If the steps aren’t ordered correctly, employees may unknowingly make decisions that could cause a loss of family coverage. Listen to our conversation to gain a better understanding of it all.

2020 has been a difficult year, to say the least. Employers have had to face new challenges never seen before and quickly adapt to operating a business during a pandemic, while also navigating new legislation because of it. We also had an election, and the Supreme Court heard the ACA case. 

Betsy Kamler, Director of Client Engagement sits down with Dustin Johnson, Sr. Broker Account Executive with Jellyvision  to discuss how ALEX can serve as a virtual benefit advisor to help drive greater benefit understanding and help employees make smarter decisions. 

Betsy Kamler, Director of Client Engagement sits down with Shaletha Colbert, National Account Executive with Allstate Identity Protection  to discuss why an employer should consider offering identity theft protection and how the COVID pandemic has impacted Identity theft risks.