Articles

The Rap on Wrap Policies:
An Owner/Developer Perspective

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.

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IRS Extends Deadline for Providing 2016 Form 1095s

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 […]

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Product Liability, Product Withdrawal, and Product Recall Insurance – Which Do I Have and What Does it Mean?

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.

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IRS Announces 2017 Health FSA Limits

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 […]

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Employer Reporting – 2016 FINAL Forms and Instructions

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 […]

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Retaining Employees In A Competitive Market

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 […]

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Are You Compliant?
Another Deadline Approaching Responsibilities Under Section 1557 of the Affordable Care Act (ACA)

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.

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Telemedicine Poised For Exponential Growth

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.

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Medicare Part D Notice Reminder:
Deadline of October 14th

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.  […]

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Drone Insurance: A Market on the Rise

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 […]

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2017 HSA Contribution Limits

The IRS recently released the cost-of-living adjustments for health savings accounts (HSAs) and qualified high-deductible health plans (HDHPs) for the 2017 calendar year.

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