United Benefit Advisors Insight and Analysis Blog

Strategic Benefits Communication: The Power of Knowing your Audience—Part Two of a Five-Part Series

Posted by: Kevin D. Seeker, GBA    Mar 23, 2017 9:30:00 AM

In my last post, I discussed using employee engagement as a measurement of benefits communication success. We know employees have concerns about their financial well-being, and look to their employers for education about new and existing benefit options. This, of course, can present challenges at open enrollment, as well as year-round communication efforts.

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Topics: Open Enrollment, Sun Life Financial, group benefit plans, employee benefits advisors, benefits communication, Kevin D. Seeker, employee demographics

The Best Ways to Minimize Your Risk When Selecting a Stop Loss Carrier – Part 1

Posted by: Steven Goethel    Mar 16, 2017 9:30:00 AM

The age-old adage, "you get what you pay for," certainly holds true in the stop loss industry. I cannot stress enough how important it is to look at more than just the premium rates on a spreadsheet.

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Topics: employee benefits, independent employee benefits advisors, group benefit plans, UMR, stop loss coverage, coverage gaps, Steven Goethel

2017 Annual Limits Card Back by Popular Demand

Posted by: Danielle Capilla    Jan 18, 2017 9:30:00 AM

Many employee benefit limits are automatically adjusted each year for inflation (this is often referred to as an "indexed" limit). UBA offers a quick reference chart showing the 2017 cost of living adjustments for health and Section 125 plans, qualified plans, Social Security/Medicare withholding, compensation amounts and more. This at-a-glance resource is a valuable desk tool for employers and HR practitioners.

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Topics: health care costs, employee benefits, employee benefit limits, out-of-pocket limits, Danielle Capilla, group benefit plans

Ouch! Department of Labor Form 5500’s Time-Intensive and Expensive Reporting Requirements Painful for Small Employers

Posted by: Carol Taylor    Jan 17, 2017 10:49:45 AM

Proposed regulations for revising and greatly expanding the Department of Labor (DOL) Form 5500 reporting are set to take effect in 2019. Currently, the non-retirement plan reporting is limited to those employers that have more than 100 employees enrolled on their benefit plans, or those in a self-funded trust. The filings must be completed on the DOL EFAST2 system within 210 days following the end of the plan year.

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Topics: small group employers, Form 5500, Carol Taylor, small business, group benefit plans, health plan reporting

State Guide to COBRA Supplemental Requirements

Posted by: Danielle Capilla    Nov 22, 2016 10:30:00 AM

The Consolidated Omnibus Budget Reconciliation Act (COBRA) is a federal requirement of group health plans to provide COBRA continuation coverage to participants who lose coverage due to a qualifying event, when the employer had 20 or more full time employees. Over the years, many states enacted additional requirements similar to COBRA, either for small employers, or in addition to the federal COBRA requirements. UBA has created a chart to outline each state’s specific continuation laws. For a sampling of the types of laws employers need to be aware of, consider these seven states (and view our full Compliance Advisor with the detail on all 50 states)

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Topics: compliance, COBRA, Danielle Capilla, COBRA continuation coverage, group benefit plans

Avoid Increased Penalties by Filing Annual Benefit Plan Reports on Time

Posted by: Jennifer Stanley    Jul 19, 2016 12:56:38 PM

Form 5500 is the annual report that group benefit plans use to report required information about the plan’s financial condition and operations. Most group and pension plans that are subject to ERISA are required to file a Form 5500. With the July 31 deadline for calendar year plans fast approaching, and higher penalties for not filing taking effect in August, this is a good time to review this important plan filing.

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Topics: Form 5500, ERISA, Jennifer Kupper, benefit plan reporting, group benefit plans