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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.
Health FSA Limit to Increase in 2019
The ACA imposes a dollar limit on employees' salary reduction contributions to health flexible spending arrangements (health FSAs) offered under cafeteria plans.
At 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:
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.
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.
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.
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.
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.