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Most Common Summary Plan Description Mistakes

One of the most important documents participants must receive automatically when becoming covered under a health benefit plan that is subject to ERISA (the federal Employee Retirement Income Security Act) is a summary of the plan, called the Summary Plan Description or SPD. The fact is, many employers are confused about this very important ERISA-required disclosure, which can put them at risk.

BFG Benefits Brief and HR Newsletter

Health FSA Limit to Increase in 2019

calendarThe ACA imposes a dollar limit on employees' salary reduction contributions to health flexible spending arrangements (health FSAs) offered under cafeteria plans.

Wellness Program Considerations for 2019

male business ownerAt Brooks Financial Group, we strive to provide our business relationships with insightful, timely information to help their businesses thrive.  Wellness programs have faced unique challenges and scrutiny in 2018. As the year winds down, it’s important to review a few important areas as we launch into 2019. The article below offers some updates on:

2018 Health & Welfare Plan Reporting and Disclosure Obligations

If you offer employer-sponsored health and welfare plans - such as life, disability, medical and dental – you will want to review the required reporting and disclosure obligations.  This checklist offers a great overview.

Financial Literacy in the Workplace

Understanding and successfully managing your financial affairs is an important component in the life of most any working adult.  Discover the many benefits of introducing financial education programs into the workplace and see why so many employers are taking the first step to provide their employees with the financial literacy skills they need.  

Advantages and Disadvantages of Self-Funded Health Plans

With the increased interest in self-funded health plans, it’s good to know the advantages and disadvantages.  Learn more with this short video.

 

Telehealth and Telemedicine

Telehealth and telemedicine technologies are designed to combat rising healthcare costs, improve the quality of care, and much more.  Learn the differences between these two programs and how they will be impacting the future of healthcare.

BFG Benefit Bits: What Are Health Insurance Exchanges?

Selecting a health care plan is a big decision.  Learn the role Health Insurance Exchanges play and discover the differences in between public and private models.

Fiduciary Responsibilities: What You Need to Know

ERISA includes standards of conduct for those who manage employee benefit plans and their assets, who are called “fiduciaries”. This Compliance Overview includes a set of frequently asked questions (FAQs) to help employers understand the basic fiduciary responsibilities applicable to group health plans under ERISA.

2018 Health Savings Account (HSA) Information

Health Savings Accounts are tax-advantaged medical savings accounts that offer an alternative way for consumers to pay for their qualified health care expenses.  Discover the key features of this year's Health Savings Accounts.

2018 HSA Key Features