Blog Archives

2019 IRS contribution limits

The IRS just released Revenue Procedure 2018-57 today, announcing the new contribution limits for 2019. Here’s what you need to know: Medical FSA Contribution Limits – 2019 The 2019 Medical FSA contribution limit will be $2,700, an increase of $50 from …

Have a Successful Open Enrollment with SMS for Communication

As your open enrollment period comes around, it’s time to increase open enrollment awareness. When you want to get your employees signed up for the benefits they deserve, you need to communicate effectively. Sending out emails to your workforce isn’t …

Level Premium Self Funding

Here is a quick video explanation for a concept that is gaining in popularity. Take a look and let us know if you have any questions:

When to Say Goodbye to Your Benefits Broker

For many businesses, the process of choosing and administering a health insurance benefits program is a daunting one. They often turn to benefits brokers to help them select and implement plans. Traditional benefits brokers offer assistance in choosing plans, but …

The New Summary of Benefits and Coverage (SBC)

As open enrollment season approaches, employers and their advisors are getting ready to use the new Summary of Benefits and Coverage (SBC) format required under federal rules. The basic rules have been in place for several years, but 2017 is …

What are pay-per-use Health Insurance plans?

As health care costs continue to rise, level funding and self-funding are becoming a more and more attractive option for smaller companies. Technically speaking Benefit Administration Group uses level funded health insurance and insurance captives as the funding mechanisms for each pay-per-use health …

Ease the Annual Benefit Enrollment Uncertainty This Year

If you’re like most human resources practitioners, you face the annual benefits enrollment with a mixture of dread and anticipation each year. Dread for the expected price increases and anticipation for newer, less expensive and better plans that may be …

SPD, Plan Document, Certificate of Insurance – Do You Have What You Need?

A summary plan description (SPD) is the primary vehicle for informing participants and beneficiaries about their plan and how it operates. It must: Be written for the average participant and be sufficiently comprehensive to apprise covered persons of their benefits, …

Top Questions on Form 5500 Preparation

Reprinted from ThinkHR At this time of year, many employers and benefit advisors begin preparing Form 5500, the annual report required for most employee benefit plans. Form 5500 must be filed with the federal government within seven months of the …