16 October 2017 By

The Internal Revenue Service (IRS) recently began notifying employers via a letter containing several attachments if the company may owe a penalty for failing to comply with the employer mandate requirements for the 2015 calendar year under the Affordable Care Act (ACA).  If you receive a letter, don’t panic! This is just the first step in assessing an employer mandate penalty. The determination of whether an employer may be liable for a penalty and the amount of the potential payment are based on information reported to the IRS on Forms 1094-C and 1095-C for 2015 (filed in early 2016) and the IRS’s records of who received a premium tax credit.  If the IRS determines that, for at least one month in the year, one or more of the employer’s full-time employees received a premium tax credit and the employer did not satisfy the offer of coverage rules, this letter (Letter 226J) will be issued. It will include:

16 October 2017 By

Community associations typically take great care to protect their package policies by taking measures to prevent fire losses and slip-and-fall claims and by proactively addressing conditions on their properties which may cause such losses. Boards understand an association’s package policy premium (as well as an association’s insurability) can really suffer as a result of claim activity, frequency and severity. Plus they want to keep their associations safe and running smoothly. But often too little thought is given to protecting the Directors and Officers (D&O) policy, which arguably is the most valuable coverage purchased by the board as it is designed to protect not only the association but the board itself.

16 October 2017 By

The Hidden Policy Premium

Every business knows that accident prevention keeps your workers’ compensation costs at a minimum. But when an accident occurs and a claim is made, what is the best method to maximize cost savings? With medical bills comprising approximately 60 percent of workers’ compensation claims costs, many third party claims administrators (TPAs) use managed care programs to control these costs.

16 October 2017 By

Regulations For Electronic Distribution of ERISA Disclosures

With the recent increase in audits by the Department of Labor (DOL), one of the most frequently asked questions JGS Insurance receives is under what circumstances can documents be distributed electronically by email, by company intranet and the like.

DOL regulations contain a safe harbor under which employee plans may use electronic means to distribute certain documents and other information required under the Employee Retirement Income Security Act of 1974 (ERISA).

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