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Tuesday, December 13, 2016
With construction booming across the entire Puget Sound Region, Owner Controlled Insurance Programs (OCIP) have become a popular strategy to insure a project’s onsite assets. But these programs can vary in effectiveness based on a large number of factors, and may not always be the most appropriate coverage for a specific project.
Monday, November 21, 2016
The IRS has issued Notice 2016-70 delaying the due date for employers and insurers to provide the 2016 Forms 1095-C and 1095-B to employees and plan participants. The notice extends the deadline 30 days from January 31, 2017, to March 2, 2017. Note that the deadline for filing the required forms with the IRS was […]
Friday, November 18, 2016
The results of the 2016 election will obviously have a significant impact on employer sponsored benefits. In the short time since the election, much has already been written about how the governmental shift could affect a wide range of public policies. This issue brief, however, will focus only on employer sponsored health and welfare benefits, […]
Friday, October 28, 2016
Product liability insurance is designed to cover the costs associated with bodily injury and property damage caused by your product. For example, say you manufacture pellet stoves and your stove does not properly function, burns down a customer’s house, and injures a customer.
Friday, October 28, 2016
In Revenue Procedure 2016-55, released last week, the IRS set forth a variety of 2017 adjusted tax limits. Among other things, the notice addresses slightly increased limits for health flexible spending accounts (FSAs). Health Flexible Spending Account (FSA) – 2017 Annual Limitation of $2,600 Health care reform imposed a $2,500 limit on annual salary reduction […]
Wednesday, October 26, 2016
The IRS has released the 2016 final forms and instructions for the ACA employer reporting requirement. The final forms are almost identical to the draft forms released in August, with only minor clarifying language in the instructions. While final forms and instructions have been released for both the “B” and the “C” forms, this summary […]
Tuesday, October 18, 2016
In today’s market, retaining talent requires more than offering a high salary. Considering that losing a high-value employee can cost an organization more than twice the cost of the employee’s salary, companies are using creative strategies to hold onto the best and the brightest. Parker, Smith & Feek’s Tim Nierman has creative plans on Employee […]
Friday, October 7, 2016
For the last several months, individuals responsible for healthcare compliance have been receiving information about the new rules under the ACA. At this point, most organizations should be or are on the way to modifying their practices to comply. While most of the requirements took effect on July 18th, posting of patient notices becomes effective on October 16th, 2016.
Tuesday, September 27, 2016
Telemedicine is a fast growing part of the healthcare industry, with services such as diagnosis, prescription refills, and physician consultations now available to patients remotely. Many Puget Sound providers are on the cutting edge of telehealth, with more following close behind.
Thursday, September 22, 2016
As you may recall, with the introduction of Medicare Part D prescription drug benefits, the Centers for Medicare and Medicaid Services (CMS) imposed certain notice requirements on employers. Employers are required to notify all Medicare beneficiaries of the “creditable” or “non creditable” coverage status of their prescription drug plan at least once every 12 months. […]
Tuesday, September 13, 2016
The drone market is forecasted to hit $4.8 billion by 2021. With so many companies and individuals employing unmanned aircraft, the need for insurance coverage will only increase. However, insuring drone operators is not an easy task, especially as FAA regulations change. To provide more information on this up-and-coming insurance market, our Partners at Assurex […]