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Fall River has been growing in recent years, and we’re still looking for more awesome clients like you! In your network, we know you are connected to some great people and, so we wanted to roll out the details of our new referral program! 
 
First, thank you to Kyle Covell of Censeares Consulting for referring us to a contact of his who needed health insurance brokerage services, and received a reward for doing so! We’d like to return the favor and share that we’ve known Kyle for many years, and as a fractional CFO he can be a trusted and integrated partner in your business. He can lead your entire finance and accounting needs, freeing you to focus on growing your business. Learn more about Kyle here.

To better understand how to best connect us with potential customers and get rewarded ....
Published in Fall River News
We all know that attracting and keeping the superior employees in your field is a constant challenge. Employers must stay ahead of the curve and anticipate the needs of the future. We all wish we could predict the future, but until that time comes, here’s a nice summary from Paylocity of the MetLife 2018 Trends Study to help to identify those future trends. Click here to learn what is worrying employees, what they are expecting, and how employees want to be educated surrounding their benefits. 
Published in Industry Trends

In 2014, Colorado legalized same sex marriage, which allowed a spouse of either gender to be a qualified dependent for benefits. Domestic partnership is still a different situation. A domestic partner is defined as an employee’s unmarried partner who lives with them and is of the same or opposite sex. The definition of an eligible dependent for benefit plans may vary depending on the employer and carrier definitions, so it’s important to check in your carrier documents. 

Published in Compliance

Recent articles from Benefits Pro and National Public Radio (NPR) claim that many patients are receiving unnecessary or “low-value” medical procedures, which are significantly increasing health care costs.

According to Benefits Pro, “health care consumers are sinking $25 billion a year on low-value procedures”. The Washington Health Alliance, after reviewing claims for 1.3 million patients in the state, found that 600,000+ patients per year are receiving treatment they do not need. The staggering cost for this unnecessary treatment is estimated at $282 million, and ultimately impacts rising health care costs.

Published in Best Practices
Tuesday, 20 February 2018 11:24

FMLA Tax Credit 2018

The Family and Medical Leave Act of 1993 (FMLA) provides employees of companies with 50 or more workers up to 12 weeks of protected unpaid leave annually for their own serious health condition, for the adoption or birth of a child or to care for a spouse, child, or parent who is ill. On December 22, 2017, the Tax Cuts and Jobs Act was signed into law, creating a federal tax credit for employers providing paid family and medical leave beginning in 2018 and ending at the end of 2019.

 
Published in Healthcare Reform
Tuesday, 13 February 2018 11:16

Review your HIPAA Practices

The Health Insurance Portability and Accountability Act of 1996 (HIPAA) was enacted to protect the privacy of healthcare consumers, including who has access to a patient’s medical records and who can be designated to act on their behalf.  You have probably filled out a HIPAA Authorization or Acknowledgment form for every new provider you’ve seen over the last 20 years.  On the surface, HIPAA compliance seems to adhere primarily to providers and insurance carriers; however, if you are an employer sponsoring health plans for your employees, there are some basic provisions you need to be aware of.  Fines for not complying with HIPAA are very real and can range into the tens of thousands of dollars.

 
Published in Compliance
Tuesday, 30 January 2018 14:59

The Ever-Changing World of ACA Taxes

There are several healthcare-related taxes that employers have been responsible for under the Affordable Care Act.  Some have gone through a sunset while others continue, and some were given a temporary holiday and were scheduled to start anew in 2018.

Following a short government shut-down, President Trump signed a short-term spending bill (a Continuing Resolution or “CR”) on January 22nd to reopen and fund the federal government through February 8, 2018.  Attached to the bill are suspensions of three ACA taxes and a six-year extension of the Children’s Health Insurance Program (CHIP). 

Published in Healthcare Reform
Tuesday, 23 January 2018 14:39

Wellness on a Shoestring

With a new year just beginning and resolutions in full swing, the idea of Well-being and Wellness jumps into the limelight once again. This time, our focus becomes on keeping this conversation going all year long in partnering with employers of all sizes in the exploration of company wellness programs.

Some employers struggle to understand how to create a wellness program with little or no budget, but it can  be done. 
Published in Wellness
Tuesday, 16 January 2018 14:06

Individual mandate repealed for 2019

For starters, the individual mandate is still in effect for 2018, meaning that employees may have to pay a sharp tax penalty of 2.5% of their income if they do not have health insurance. Early reports that this is no longer in place are false.

Even after the individual mandate is eliminated in 2019, the individual market, federal subsidies and Medicaid expansion (32 states and the District of Columbia implemented this) will all still be in place, barring further congressional action.

Published in Healthcare Reform
Wednesday, 20 December 2017 15:04

What Made the Cut in the Final Tax Cut Bill

The Conference Committee in Congress worked last week to meld together the House and Senate versions of their tax cuts bill. Their compromise bill was passed on Tuesday, December 19th, by the House. While the Senate passed it that Wednesday, some last minute changes required Tuesday night by reconciliation rules meant the House had to pass the final bill again on Wednesday, before President Trump signed it into law on Friday, December 22nd. The final product was a little closer to the Senate version of the bill, but included a few last-minute surprises for employers and tax payers alike.
Published in Healthcare Reform
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