Employee Benefit Guidance & Compliance Solutions

Posts Tagged "February 2020"

February 2020 Newsletter

By on Feb 1, 2020 in Newsletters | 0 comments

Dear Valued Clients and Associates, February is a month of hearts, love and valentine’s; it also happens to be the month my Grandmother was born and this year, she’s celebrating 91! I’m excited to head to Maine in a couple weeks to see her and soak up all the love I can get from my family there. Speaking of love, how do you feel about your benefits broker? You may like your broker, but are they really servicing your organization and your employees the way they should be or are they just collecting their commission and not offering you value-add services? Do your employees have direct access to your broker for help with claims questions and adjudication or do your employees have to call the carrier directly? Do they provide you with access to HR and compliance tools? Does your broker include an online benefits administration option? Does your broker administer COBRA for you? Will your broker administer your HRA for you? Do they market your plans every year and show you the comparison, so you know you are offering the best plans? If you are not getting all of these things and more from your broker, we should talk! PF Compass has held a 98% retention rate for over 20 years! If you’d like to learn how we can help you reach your employee benefits and compliance goals, let’s chat! Give me a call today 732-258-1032. Here is your February 2020 Newsletter with a combination of HR and Health related news. I hope you enjoy!     Cadillac Tax and Other Key ACA Taxes Repealed The federal spending bill signed into law at the end of 2019 repealed three taxes and fees under the Affordable Care Act (ACA): The Cadillac tax The medical devices excise tax The health insurance providers fee The Cadillac Tax The Cadillac tax is a 40% excise tax on high-cost group health coverage. Its effective date was previously delayed several times. This tax is now fully repealed, beginning with the 2020 tax year. The Medical Devices Excise Tax The medical devices tax is a 2.3% excise tax on the sales price of certain medical devices. This tax is fully repealed beginning in 2020. Health...

Read More

Pin It on Pinterest