At the beginning of this year, the National Council on Compensation Insurance (NCCI) changed the methodology that determines an individual employer’s experience modification factor (ex-mod).  According to NCCI, the “split-point” change was needed because the average claim cost had increased threefold since the last update, which was two decades...

Homeowner insurance rates have climbed 69% in the last 10 years.  At the same time, deductibles have increased, certain coverages have scaled back and new restrictions have been added to policies. Coverage varies widely between carriers and most consumers shop based on price and reputation.  Key decision drivers, of...

It has been estimated that over 16,000 new Internal Revenue Service Agents (IRS) will be hired by the time health care reform is fully implemented in 2014.  Clearly, the IRS will play a dominate role in health care reform and be the enforcement arm of the government – even...

The largest movie theatre chain in the nation, Regal Entertainment Group, recently announced that thousands of their employees will have their work hours cut.  The movie chain joins a list of major employers that are preparing for the added costs of the new health care reform mandates, some of...

The Department of Labor (DOL) has issued two versions of a model exchange notice and basic instructions on issuing the notice.  These have been provided as temporary guidance and model notices that employers can use to inform their employees about the Exchanges. Technical Release No. 2013-02 It should be...

As a result of the Biggert-Waters Flood Insurance Reform Act of 2012 (BW12), below is a brief summary of changes that will go into effect on October 1, 2013 as part of the National Flood Insurance Program (NFIP).  For further details on how these changes will impact flood insurance...

According to MetLife’s 11th Annual Study of Employee Benefits Trends, employees who gave their companies a benefits communication grade of A or B cited the following as the most-valued benefits communication strategies: Post-enrollment confirmation of benefits elections – 58% Personalized messages and materials reflecting individual needs and/or life stages...

The Departments of Labor, Health and Human Services and the Treasury issued a FAQ that responds to questions about whether a change in plan or policy year would extend the waiver period for a plan that received a temporary waiver of the annual limit requirement.  (The waiver primarily affects...

The IRS has issued the 2014 limits for health savings accounts.  PPACA requires that this out-of-pocket limit be the maximum out-of-pocket for all health plans in 2014.  The minimum deductible only applies to high deductible health plans integrated with an HSA. The limits are:   Limit 2014 2013 Maximum...

The Departments of Labor, Health and Human Services and the Treasury released an updated Summary of Benefits and Coverage (SBC) template that plans will need to use for 2014. The updated template has very few changes from the version used for 2013. The primary change is that the 2014...