The Lead - Winter 2015
IN THIS ISSUE:
Flowers blooms as one of 2015's Most Influential Women
We’re proud to announce that Jeannette Flowers, our Vice President of Marketing and Product Development, has recently been named one of 2015’s Most Influential Women in Benefit Advising by Employee Benefit Adviser. Jeannette was just one of 25 women chosen, all of whom are active not only in national and regional organizations but within their communities as well.
A veteran of three decades in the industry, Jeannette is as committed to customer satisfaction today as she was on her first day, motivated by the “desire to find fresh solutions and to design innovative, cost-effective services for customers that promote employee health while benefiting the employer, client, broker and Lifetime Benefit Solutions’ partners.”
Read the full story HERE.
Automatic Enrollment for Health Plans repealed
On November 2, 2015, President Barack Obama signed H.R. 1314, the “Bipartisan Budget Act of 2015,” which, among other things, repealed the auto- enrollment requirement from the Fair Labor Standards Act (FLSA). Under that provision, employers that are subject to the FLSA and which employed more than 200 full-time employees would have been required to automatically enroll new full-time employees in one of the employer’s health benefits plans (subject to any waiting period authorized by law). Certain notices would have been required giving employees an opportunity to opt out of any coverage in which the employee was automatically enrolled. This requirement, which had yet to take effect, was riddled with concerns and questions regarding how employers would administer the provision.
A few introductions are in order
Here we grow again..
As Lifetime Benefit Solutions continues its expansion into new areas, we continue to strengthen and deepen our dedicated sales and client services team. Expect to be speaking soon with new and talented team members Mike Fischer, Rebecca Bradtke and Dan Burkey.
Mike will be racking up the miles as he makes frequent trips to Ohio to develop new business. Mike, an account executive, joins Lifetime from Medline Industries where he worked in surgical sales. The Rochester native graduated from Cortland State University with a degree in economics and finance.
Rebecca, a client service representative, joins Lifetime Benefit Solutions from MetLife Insurance Company. At Met since 2006, she was first a group life insurance representative and, since 2010, a long-term disability case manager. Rebecca began her insurance career in 2003 with United Health Group and graduated from Herkimer County Community College.
Dan has taken a somewhat unusual path to his new position as client service representative. Prior to joining Lifetime, Dan spent more than four years at Dick’s Sporting Goods as a footwear and apparel manager and the last two and a half years at M&T Bank as a relationship banker. Dan graduated from Cazenovia College in 2008 with a B.S. in sport management.
Attention Lifetime Benefit Solutions brokers(and those who wish to be)
Lifetime Benefit Solutions is launching a new broker compensation program in 2016 for our ancillary lines of business. Watch for details in the coming weeks.
As Lifetime Benefit Solutions prepares to roll out its new telemedicine service, here are some important points about it.
- Increases timely access to care and offers the opportunity for the patient to access primary care on their terms
- Avoids unnecessary transfers to another facility when a remote specialist can determine if the best option is to stay local
- Crosses borders, requiring duplicate licensures in multiple/bordering states
- Allows physicians to save time traveling between facilities to see patients, increasing their productivity
- Costs are typically flat and low rate
Hungry for more business?
Check your mail recently? You may have noticed some fresh, tasty messages from Lifetime Benefit Solutions, just what you’d expect from the company that’s “the cure for benefits as usual.” It’s just our way of saying “Hi!” as we expand beyond New York and identify ideal broker partners like you. If your accounts have been looking for something fresh, new and completely customized for them, we hope you’ll consider Lifetime Benefit Solutions. We’re just the partner to help you take a bigger bite out of your market.
Our menu of products and services includes:
- Self-funded Medical and Dental Plans
- FSA/HRA/HSA/QTB Administration
- COBRA Administration
- Payroll Services
- 401(k) Services
- Employee Benefits Compliance Services
If you’re hungry for a bigger helping of business, contact Jackie Rossi, manager of new business sales at 315-671-9841 or visit www.LifetimeBenefitSolutions.com/DigIn.
Reimbursement Accounts: Qualified Transportation Benefits
If your clients are looking to you for ways to save their employees some dough, we’re about to make you look like a hero.
A Qualified Transportation Benefit (QTB) allows employees to pay for commuting expenses with pre-tax dollars. By reducing their taxable income, they’ll save money – although planning ahead is crucial. Employees must estimate their expenses for the upcoming year before enrolling in the benefit.
There are two components to a QTB – parking and transit.
- A parking account can reimburse employees for expenses such as parking lot fees or parking at a location for access to mass-transit.
- A transit account can reimburse employees for expenses related to mass- transit fees, such as subway and train passes, and bus fares.
It gets better. Beginning in 2016, employers with 20 or more full-time employees in New York City must offer full-time employees the opportunity to use pre-tax earnings to purchase qualified transportation fringe benefits, other than qualified parking. Should the employer attain the 20 full-time employee mark but then fall below it, the requirement will remain in force, meaning that the employer will still be required to maintain the salary reduction transit benefit for those employees originally qualified before the workforce reduction.
Federal Exchange Notices for 2016
The Centers for Medicare & Medicaid Services (CMS) recently issued guidance regarding Federal Exchange Notices. Beginning in 2016, all Exchanges operating on Healthcare.gov will be notifying certain employers whether any of their employees have received an advance payment of premium tax credits. The Exchanges will first send notices to employers with employees who have received advanced payment tax credits for at least one month in 2016 and who have an employer mailing address.
CMS will evaluate results of the program in 2016 to determine the best means of improving the process going forward.
Read more HERE.
The Lead is published periodically to keep you abreast of the ever-changing world of employee benefit plans. You are receiving this newsletter as a partner, customer, associate or friend of Lifetime Benefit Solutions.
Copyright © 2015 Lifetime Benefit Solutions, All rights reserved.