Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Tuesday, December 14, 2010
High Deductible Help
Health Care costs are increasing, the economy is not turning around quick enough - what are employers doing about health insurance ? Some are reducing benefits by putting in higher co-pays or large deductibles (some are doing both!). If there is substantial cost savings by doing this, a company may give back some of the savings by "funding" all or part of the large deductible in an H S A (health savings account) or an HRA (health reimbursement arrangement). Another option is to offer a voluntary set of benefits to employees designed to offset these larger potential expenses. Recently I was interviewed on this exact topic. Read more here.
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Friday, November 5, 2010
Joe the Plumber Doesn’t Need to Wait Any Longer
Steve Blewitt has had an article published in National Healthcare Reform Magazine. The article sights some methods of controlling health insurance costs now.
Click here for the article.
Click here for the article.
Wednesday, October 20, 2010
Employers and Brokers Find Tips at a National Conference
About a week ago I attended a national conference that was geared towards brokers and consultants as well as HR professionals. Although the speakers and topics were different for each group there were some relevant points in this ever evolving world of health insurance that we live in.
*A survey by the National Business Group on Health on how employers will deal with health insurance increases: 63% plan to increase payroll deductions, 46% plan to downgrade benefits - 61% will offer a Consumer Driven Health Plan like an HSA or HRA in 2011.
*Many larger employers are looking into Dependent Eligibility Audits. This procedure identifies dependents that should no longer be covered on the plan (a divorced spouse, a cousin, an aged out child or custody arrangement) and their coverage is terminated - saving the employer money.
*Under health care reform penalties now exist when employers discriminate with benefits for highly compensated employees. Giving these employees a separate richer benefit or paying more towards premiums could result in fines of $100 per day per individual discriminated against. In fact the public is invited to comment on this up until November 4th. use this e-mail address Notice.Comments@irscounsel.treas.gov. Include “Notice 2010-63” in the subject line.
*Experts suggested that employers increase waiting periods to at least 90 days for new hires, disclose the full cost of insurance premiums to employees, implement a Section 125 FSA plan and consider self funding health insurance with a third party administrator.
*Small employers should explore the small business tax credit that is a part of health care reform. In general the credit is available to small employers, less than 25 employees and pay at least half the cost of single coverage for their employees in 2010. Because the eligibility rules are based in part on the number of FTEs, not the number of employees, businesses that use part-time help may qualify even if they employ more than 25 individuals.
*Health care reform allows children to stay on their parents plan up to age 26. This does NOT mean they are still considered dependents for tax reasons. perhaps they are 25 and married and live on their own - yet they are still on mom and dad's health plan. If so be careful if you participate in an H S A or FSA - you most likely cannot use these tax free funds on these "children" (are they really still children??) since they are no longer considered a "dependent".
Hopefully some of these strategies may benefit you and your business.
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
*A survey by the National Business Group on Health on how employers will deal with health insurance increases: 63% plan to increase payroll deductions, 46% plan to downgrade benefits - 61% will offer a Consumer Driven Health Plan like an HSA or HRA in 2011.
*Many larger employers are looking into Dependent Eligibility Audits. This procedure identifies dependents that should no longer be covered on the plan (a divorced spouse, a cousin, an aged out child or custody arrangement) and their coverage is terminated - saving the employer money.
*Under health care reform penalties now exist when employers discriminate with benefits for highly compensated employees. Giving these employees a separate richer benefit or paying more towards premiums could result in fines of $100 per day per individual discriminated against. In fact the public is invited to comment on this up until November 4th. use this e-mail address Notice.Comments@irscounsel.treas.gov. Include “Notice 2010-63” in the subject line.
*Experts suggested that employers increase waiting periods to at least 90 days for new hires, disclose the full cost of insurance premiums to employees, implement a Section 125 FSA plan and consider self funding health insurance with a third party administrator.
*Small employers should explore the small business tax credit that is a part of health care reform. In general the credit is available to small employers, less than 25 employees and pay at least half the cost of single coverage for their employees in 2010. Because the eligibility rules are based in part on the number of FTEs, not the number of employees, businesses that use part-time help may qualify even if they employ more than 25 individuals.
*Health care reform allows children to stay on their parents plan up to age 26. This does NOT mean they are still considered dependents for tax reasons. perhaps they are 25 and married and live on their own - yet they are still on mom and dad's health plan. If so be careful if you participate in an H S A or FSA - you most likely cannot use these tax free funds on these "children" (are they really still children??) since they are no longer considered a "dependent".
Hopefully some of these strategies may benefit you and your business.
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
W-2 Health Costs Reporting is Optional
The IRS announced last week that it will defer the new requirement under Health Care Reform set to take place in 2011 that employers must report on W-2s the cost of health care coverage. The Treasury Dept and the IRS feel it is necessary to provide employers the time needed to make changes to payroll systems and internal procedures. Guidance from the IRS will be forthcoming. For 2001 the reporting of costs on w-2s is optional and a draft of that form exists for those employers wishing to do so. It can be found here: http://www.irs.gov/pub/irs-utl/draft_w-2.pdf
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Tuesday, September 21, 2010
September Newsletters Ready to Read!
Click the following links for new issues of our online newsletters.
Thursday, August 12, 2010
"If you like your health plan you can keep your health plan " ......Not exactly ....
At a town hall meeting in New Hampshire exactly one year a go, President Obama repeated a line he used many times. His statement is not exactly true. At a recent broker seminar held by Aetna in Delaware, the company announced some terrific changes coming in October. Among the changes, if you are a Delaware employer currently with Aetna you will have to change to one of their new plan offerings upon your renewal.
In an attempt to cut administrative costs, be more flexible and adapt to client needs Aetna is streamlining their products by reducing the number of plans available. These plans will be health care reform compliant and hopefully improve pricing.
All plans incorporate 5 key components of health care reform:
1) Remove Lifetime Maximums on all plans
2) Remove Annual limits where required
3) Preventive care 100% covered
4) Dependents covered to age 26
5) No pre-existing conditions for children under 19
Delaware employers can pick from 14 plan designs from Aetna.
How will the marketplace react to such changes ? Check back in a year and we will have a better idea. My thought is most employers will appreciate the simplicity - especially if it means better pricing. Aetna is making similar changes in Pennsylvania and my guess is they will in other states too. I doubt Aetna will be alone either. BlueCross BlueShield of Delaware and Coventry Healthcare of Delaware both have scheduled broker seminars for the month of August. I bet they have some changes coming too!
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
In an attempt to cut administrative costs, be more flexible and adapt to client needs Aetna is streamlining their products by reducing the number of plans available. These plans will be health care reform compliant and hopefully improve pricing.
All plans incorporate 5 key components of health care reform:
1) Remove Lifetime Maximums on all plans
2) Remove Annual limits where required
3) Preventive care 100% covered
4) Dependents covered to age 26
5) No pre-existing conditions for children under 19
Delaware employers can pick from 14 plan designs from Aetna.
How will the marketplace react to such changes ? Check back in a year and we will have a better idea. My thought is most employers will appreciate the simplicity - especially if it means better pricing. Aetna is making similar changes in Pennsylvania and my guess is they will in other states too. I doubt Aetna will be alone either. BlueCross BlueShield of Delaware and Coventry Healthcare of Delaware both have scheduled broker seminars for the month of August. I bet they have some changes coming too!
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Tuesday, August 10, 2010
Friday, July 2, 2010
COBRA Federal Subsidy update
Although Congress has extended the COBRA subsidy four times as part of the amended ARRA they have failed to extend it a fifth time beyond May 31st, 2010. Therefore May 31st, 2010 is the last date someone can be terminated from employment and may be eligible for the federal subsidy. Anyone terminated after this date is currently NOT eligible for the financial assistance previously available.
We will continue to monitor this situation and provide updates if an when anything changes.
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
We will continue to monitor this situation and provide updates if an when anything changes.
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Thursday, July 1, 2010
Flood Insurance Back Online
Last night the Senate passed a temporary measure extending the federal flood program until September 30. The measure has been sent to President Obama for his signature.
Read the full story here.
Read the full story here.
Friday, May 28, 2010
Flood Insurance Program Set to Expire Again 6/1
The Nation Flood Insurance Program is set to expire May 31st at midnight. This will be the forth time this year the Congress has allowed the bill to expire- creating yet another interruption in the availability of new flood policies on the very start of Hurricane season.
Read details here.
Read details here.
Monday, May 24, 2010
The First IFS Outstanding Student Game is Tonight!
We are excited about the first IFS Outstanding Student game with the Blue Rocks this evening! Come out and see the kids get their awards and cheer on the Blue Rocks at Frawley Stadium. The game starts at 6:35pm.
More details about the program can be found here:
http://web.minorleaguebaseball.com/team3/page.jsp?ymd=20090129&content_id=502855&vkey=team3_t426&fext=.jsp&sid=t426
More details about the program can be found here:
http://web.minorleaguebaseball.com/team3/page.jsp?ymd=20090129&content_id=502855&vkey=team3_t426&fext=.jsp&sid=t426
Tuesday, May 18, 2010
IFS Outstanding Student Program with the Blue Rocks
For the 7th year IFS is proud to sponsor the IFS Outstand Student Program. The Outstanding Student rewards-based program has been running strong since its inception during the Wilmington Blue Rocks 2003 season. Area teachers nominate outstanding students for a night at Frawley Stadium which includes a reserved seat ticket to a game along with on-field individual recognition, introduction on our RocksVision video board and sound system, official certificate of achievement, and a free hot dog and soda. During one particular Outstanding Student night, the Blue Rocks hosted over 1,000 area children from area schools during a home game. Make sure your outstanding students are not left out! Schools may sign up for the 2010 Outstanding Student Program starting in February.
Teachers are able to get the enrollment form here.
The games will be held 5/24, 5/25, 6/7, 6/8, and 6/9.
Teachers are able to get the enrollment form here.
The games will be held 5/24, 5/25, 6/7, 6/8, and 6/9.
Friday, May 7, 2010
May is Disability Insurance Awareness Month
It is not the most fun thing to think about but it is a fact: disabilities do occur and can affect all of us. Here are some sobering statistics:
Three in 10 workers entering the work force today will become disabled before retiring.
Social Security Administration, Fact Sheet January 31, 2007
One in 7 workers can expect to be disabled for five years or more before retirement.
"Commissioners Disability Table, 1998," Health Insurance Association of America, the New York Times, February 2000
Disability causes nearly 50% of all mortgage foreclosures, 2% are caused by death.
Health Affairs, the Policy Journal of the Health Sphere, 2 February 2005
Close to 90% of disabling accidents and illnesses are not work related.
National Safety Council, Injury Facts 2008 Ed.
The good news is that Disability Insurance is available both on an individual basis and a group basis for companies. Moreover, these coverages are extremely affordable. Call us today and ask to speak to a Benefits Specialist about disability insurance at 302.239.2355
Three in 10 workers entering the work force today will become disabled before retiring.
Social Security Administration, Fact Sheet January 31, 2007
One in 7 workers can expect to be disabled for five years or more before retirement.
"Commissioners Disability Table, 1998," Health Insurance Association of America, the New York Times, February 2000
Disability causes nearly 50% of all mortgage foreclosures, 2% are caused by death.
Health Affairs, the Policy Journal of the Health Sphere, 2 February 2005
Close to 90% of disabling accidents and illnesses are not work related.
National Safety Council, Injury Facts 2008 Ed.
The good news is that Disability Insurance is available both on an individual basis and a group basis for companies. Moreover, these coverages are extremely affordable. Call us today and ask to speak to a Benefits Specialist about disability insurance at 302.239.2355
Monday, April 19, 2010
Its Volunteer Appreciation Week
IFS salutes everyone who volunteers their time to help our communities. Below is a short list of activities our IFS team is involved in:
Diane Rose, Account Manager/ Support Specialist - President of Leeds Elementary PTO in Elkton, Maryland
Mike Fallon, Account Executive – Volunteer Fireman at Christiana Fire Company, Cub Scout Den Leader for Pack 283
Kevin Thomas, Jr., Account Executive – Adopt A Highway Volunteer, All the Difference Inc. Volunteer, Sunday Breakfast Mission Volunteer and Volunteer on the ABC Cares Committee
Lori DiBattista, Account Executive - Long time volunteer for Special Olympics, Make-A-Wish Foundation and Making Strides Against Breast Cancer. Certified as a Heart Truth Champion through the National Institute of Health and Christiana Care Health System. Parent volunteer for the Men's University of Delaware Track & Field team.
Bob Briggs, Account Executive - VIPS (Volunteer In Police Service) for the New Castle City PD. Member of the Delaware State Fire Police. 17 year active member of the Goodwill Volunteer Fire Company.
Kevin Campbell, AVP Marketing & Technology – 3rd year coach for Capitol Little League; managing the Minor B Pirates.
Steve Blewitt, VP IFS Benefits – Coaches Brandywine Little League Baseball for the past 5 years and also has volunteered for IHM activities and Brandywine YMCA youth sports programs.
Steve Burnett, Executive VP - Assistant varsity softball coach at AI DuPont High School and Volunteer on the ABC Cares Committee.
Rick LaPenta, President & CEO - Co-Chair Goodwill of Delaware fundraising committee.
We commends everyone who volunteers their time to help those in need and make your community a better place to live.
Diane Rose, Account Manager/ Support Specialist - President of Leeds Elementary PTO in Elkton, Maryland
Mike Fallon, Account Executive – Volunteer Fireman at Christiana Fire Company, Cub Scout Den Leader for Pack 283
Kevin Thomas, Jr., Account Executive – Adopt A Highway Volunteer, All the Difference Inc. Volunteer, Sunday Breakfast Mission Volunteer and Volunteer on the ABC Cares Committee
Lori DiBattista, Account Executive - Long time volunteer for Special Olympics, Make-A-Wish Foundation and Making Strides Against Breast Cancer. Certified as a Heart Truth Champion through the National Institute of Health and Christiana Care Health System. Parent volunteer for the Men's University of Delaware Track & Field team.
Bob Briggs, Account Executive - VIPS (Volunteer In Police Service) for the New Castle City PD. Member of the Delaware State Fire Police. 17 year active member of the Goodwill Volunteer Fire Company.
Kevin Campbell, AVP Marketing & Technology – 3rd year coach for Capitol Little League; managing the Minor B Pirates.
Steve Blewitt, VP IFS Benefits – Coaches Brandywine Little League Baseball for the past 5 years and also has volunteered for IHM activities and Brandywine YMCA youth sports programs.
Steve Burnett, Executive VP - Assistant varsity softball coach at AI DuPont High School and Volunteer on the ABC Cares Committee.
Rick LaPenta, President & CEO - Co-Chair Goodwill of Delaware fundraising committee.
We commends everyone who volunteers their time to help those in need and make your community a better place to live.
Friday, April 16, 2010
Job Aid and Flood Insurance Extension
After the senate had allowed the National Flood Insurance Program and the COBRA subsidies to lapse since March 31; the President signed into law an extension of the two programs today.
President Obama signed the bill the Senate and House both approved yesterday. The COBRA subsidy portion of the bill extends the 15 month, 65% federal premium subsidy to May 31 for employees who were laid off. The last extension had expired on March 31. There is pending legislation in the House that would extend the subsidy to employees laid off through the end of 2010.
Click here for the full story.
President Obama signed the bill the Senate and House both approved yesterday. The COBRA subsidy portion of the bill extends the 15 month, 65% federal premium subsidy to May 31 for employees who were laid off. The last extension had expired on March 31. There is pending legislation in the House that would extend the subsidy to employees laid off through the end of 2010.
Click here for the full story.
Wednesday, April 14, 2010
Bill to Restore Flood Insurance & Jobless Benefits Stalls Again
Votes came just short of passage of the bill which would restore the Flood Insurance Program and extended COBRA benefits.
Click here to read the full story.
Click here to read the full story.
Tuesday, April 13, 2010
Brandywine Little League Opening Day
With over 550 families in Brandywine Little League this year, opening day was a huge success! With sunny skies and a brisk wind baseball was under way. Fortunately for the players, many local businesses, including IFS, sponsor one of the teams. Support like this has made it possible to offer Little league Baseball in North Wilmington for more than 40 years. The IFS team was looking to open the season strong and that they did. The team made lots of plays in the field and generated plenty of excitement with many hits at the plate. IFS's own, Steve Blewitt volunteers his time coaching the squad, as he has done every year since 2004.
Monday, April 12, 2010
Patient Protection and Affordable Care Act Tax Credit
Under the Patient Protection and Affordable Care Act, small businesses who provide health insurance may qualify for a credit toward their cost of health insurance.
Click here for a summary of the Act.
Click here for the 3-step worksheet to help you determine if you qualify for the tax credit.
Click here for a summary of the Act.
Click here for the 3-step worksheet to help you determine if you qualify for the tax credit.
Thursday, April 8, 2010
More States Join Lawsuit Against the New Healthcare Law
Eighteen states in total have filed suit to stop the health care bill from being implemented. The charge by the states filing the suit is that this law is an unprecedented and unconstitutional expansion of the power of the federal government.
Read the full Reuters article here.
Read the full Reuters article here.
Tuesday, April 6, 2010
Mandatory Sprinklers Spark Debate in PA
The Philadelphia Inquirer posted an article announcing legislation requiring fire sprinklers for new homes built in Pennsylvania after January 2011 has sparked a debate. Lines are drawn between those who believe the sprinkler contractors have "pushed through" legislation which some contest doesn't save property or lives and those who believe residential sprinkler systems do just that.
Some home builders believe these regulations will adversely impact new home sales because of increased costs.
View the full article here.
Mike Fallon, CPIA
Account Executive, IFS.
Mike’s specializations include working with restaurant owners, fire sprinkler contractors, and fire companies. During his sixteen years in the insurance industry, Mike has focused on offering his clients the best choices to protect their business and minimize their risk.
Some home builders believe these regulations will adversely impact new home sales because of increased costs.
View the full article here.
Mike Fallon, CPIAAccount Executive, IFS.
Mike’s specializations include working with restaurant owners, fire sprinkler contractors, and fire companies. During his sixteen years in the insurance industry, Mike has focused on offering his clients the best choices to protect their business and minimize their risk.
Wednesday, March 31, 2010
Contractors Required to Be Lead-Certified Effective April 22
Contractors required to be lead-certified effective April 22, 2010 or risk tens of thousands in fines from the EPA.
The Lead-Based Paint Renovation, Repair and Painting Program is a federally regulated program affecting contractors, property managers and others who disturb painted surfaces. This program applies directly to residential houses, apartments, and child-occupied facilities such as schools and day-care centers built before 1978. Read more about the program here.
Click here for EPA accredited training facilities.
Specific pollution insurance is available to respond to accidental contamination of an environment. For information on pollution insurance, contact Mike Fallon via phone at 302.239.2355 or by email.
Coverages available:
Same day premium indications available.
Mike Fallon, CPIA
Account Executive, IFS.
Mike’s specializations include working with restaurant owners, fire sprinkler contractors, and fire companies. During his sixteen years in the insurance industry, Mike has focused on offering his clients the best choices to protect their business and minimize their risk.
The Lead-Based Paint Renovation, Repair and Painting Program is a federally regulated program affecting contractors, property managers and others who disturb painted surfaces. This program applies directly to residential houses, apartments, and child-occupied facilities such as schools and day-care centers built before 1978. Read more about the program here.
Click here for EPA accredited training facilities.
Specific pollution insurance is available to respond to accidental contamination of an environment. For information on pollution insurance, contact Mike Fallon via phone at 302.239.2355 or by email.
Coverages available:
- Lead
- Asbestos
- Mold
- EFIS
- Transportation Pollution
- Non-Owned Disposal Site
- Limits from $500,000 - $10,000,000
Same day premium indications available.
Mike Fallon, CPIAAccount Executive, IFS.
Mike’s specializations include working with restaurant owners, fire sprinkler contractors, and fire companies. During his sixteen years in the insurance industry, Mike has focused on offering his clients the best choices to protect their business and minimize their risk.
Extending COBRA Subsidy a Third Time?
Today is March 31st and this is not an early April Fool’s joke! Congress has gone on a two-week recess and did not approve extending the American Recovery and Reinvestment Act of 2009 (ARRA) COBRA Subsidy. Therefore, employees laid off after March 31st will not be eligible for the 65% government subsidy for COBRA premiums.
However, most experts agree that Congress will likely extend the COBRA subsidy. They have already extended this twice before. If it is extended, it will in all likelihood be retroactive to April 1st.
Unfortunately we will have to wait until at least April 12th when Congress is back in session for an official answer.
However, most experts agree that Congress will likely extend the COBRA subsidy. They have already extended this twice before. If it is extended, it will in all likelihood be retroactive to April 1st.
Unfortunately we will have to wait until at least April 12th when Congress is back in session for an official answer.
Monday, March 29, 2010
How Will Healthcare Reform Affect You and Your Business?
IFS has prepared a timeline for what can be expected under the current version of the Health Care bill that was signed into law March 23, 2010. For a breakdown on what to expect click here.
Federal Flood Insurance Program Closed for Weeks
Congress adjourned until April 12th without passing a provision extending the Nation Flood Insurance Program.
Click here for details.
Click here for details.
Thursday, March 25, 2010
Is the Flood Insurance Program Going Down Again?
There may be another vote by the Senate tonight or tomorrow but if the plan is not extended the program could lapse again.
The Insurance Journal article on the issue here.
The Insurance Journal article on the issue here.
Wednesday, March 24, 2010
Health Care Reform: How It May Impact You and a Detailed Comparison
With the House of Representatives passing the health reform bill and the President signing it into law many clients and employees are trying to determine how it will impact them. While many details are still being sorted through this is what we know if you have health insurance through work.
You will be able to keep your current plan, or in 2014 have the ability to purchase insurance through soon to be created state insurance exchanges.
Within 6 months plans will stop setting lifetime limits on coverage and allow children to stay on their parents plan until age 26. Insurance companies will be required to cover children with pre-existing conditions, but will be able to deny adults without prior insurance with pre-existing conditions until 2014.
Insurance companies will be forced to pay a 40% excise tax on high value group plans, but not until 2014.
In 2013 Flex spending accounts will have a reduced maximum of $2500 a year and over-the-counter medicines will be disqualified.
In 2018 those families making over $250,000 will pay more in Medicare payroll taxes and unearned income will be subject to a 3.8% tax.
In the state run exchanges you can buy subsidized coverage if you the employee pay more than 9.5% of your income to get insurance or if your employer's plan covers less than 60% of costs.
If you qualify for a subsidy and buy a plan that covers abortion you will pay a separate premium.
If your income for a family of four is less than $88,000 and your cost for insurance is between 8 and 9.8% of your income, you can get a voucher from your employer to buy insurance on the exchange.
Finally, most Americans would be required to buy health insurance.
For a comprehensive detailed review of all the provisions in the passed Senate Bill and the changes proposed int he Reconciliation Bill please go to the Kaiser Family Foundation website: http://www.kff.org/healthreform/upload/housesenatebill_final.pdf
A synopsis of a few major changes are outlined by Reuters here: http://www.insurancejournal.com/news/national/2010/03/19/108294.htm
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
You will be able to keep your current plan, or in 2014 have the ability to purchase insurance through soon to be created state insurance exchanges.
Within 6 months plans will stop setting lifetime limits on coverage and allow children to stay on their parents plan until age 26. Insurance companies will be required to cover children with pre-existing conditions, but will be able to deny adults without prior insurance with pre-existing conditions until 2014.
Insurance companies will be forced to pay a 40% excise tax on high value group plans, but not until 2014.
In 2013 Flex spending accounts will have a reduced maximum of $2500 a year and over-the-counter medicines will be disqualified.
In 2018 those families making over $250,000 will pay more in Medicare payroll taxes and unearned income will be subject to a 3.8% tax.
In the state run exchanges you can buy subsidized coverage if you the employee pay more than 9.5% of your income to get insurance or if your employer's plan covers less than 60% of costs.
If you qualify for a subsidy and buy a plan that covers abortion you will pay a separate premium.
If your income for a family of four is less than $88,000 and your cost for insurance is between 8 and 9.8% of your income, you can get a voucher from your employer to buy insurance on the exchange.
Finally, most Americans would be required to buy health insurance.
For a comprehensive detailed review of all the provisions in the passed Senate Bill and the changes proposed int he Reconciliation Bill please go to the Kaiser Family Foundation website: http://www.kff.org/healthreform/upload/housesenatebill_final.pdf
A synopsis of a few major changes are outlined by Reuters here: http://www.insurancejournal.com/news/national/2010/03/19/108294.htm
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Wednesday, March 17, 2010
Tuesday, March 16, 2010
Walk It Off Update
Our IFS Walk It Off team logged 230 miles in the first week.
The reported miles seem a little light. We suspect some members of our team are not recording their distance...
The reported miles seem a little light. We suspect some members of our team are not recording their distance...
Monday, March 15, 2010
Federal Flood Insurance Program is Back
Legislation was signed extending the Flood Program. The Program was allowed to lapse for several days. There are many unresolved issues which need to be addressed with the Program.
See what the debate is about.
See what the debate is about.
National Flood Safety Awareness Week
National Flood Safety Awareness Week is March 15th - 19th
Floods are not just associated with tropical storms or hurricanes. Floods can occur when snowmelt caused by warmer temperatures couple with rain. Floods are also not only events that happen on properties adjacent to creeks, streams or rivers. There is allot of good flood information at the FEMA flood site.
Of course, flood insurance is a good way to avoid some of the financial risks associated with flood. We would be happy to help you understand what your options are with flood coverage. Call us at 302.239.2355 and find out.
Floods are not just associated with tropical storms or hurricanes. Floods can occur when snowmelt caused by warmer temperatures couple with rain. Floods are also not only events that happen on properties adjacent to creeks, streams or rivers. There is allot of good flood information at the FEMA flood site.
Of course, flood insurance is a good way to avoid some of the financial risks associated with flood. We would be happy to help you understand what your options are with flood coverage. Call us at 302.239.2355 and find out.
Wednesday, March 10, 2010
Temporary Extension Act of 2010 Extends the ARRA COBRA Subsidy
For those clients that are required to offer COBRA you may have not yet heard, Congress has agreed to extend the 65% COBRA subsidy to employees who are involuntarily terminated through March 31, 2010. In addition, the below notice highlights other changes including new penalties for non-compliance and a second election period for certain individuals.
Click on the link below for details from our preferred COBRA administrator Ameriflex.
For those clients currently administering COBRA yourself you may want to call IFS about using Ameriflex instead. Our clients receive a discounted rate from Ameriflex and we take no commission on this product - saving you money !
http://trustifs.com/breaking/ben_breaking_news_03092010.html
Click on the link below for details from our preferred COBRA administrator Ameriflex.
For those clients currently administering COBRA yourself you may want to call IFS about using Ameriflex instead. Our clients receive a discounted rate from Ameriflex and we take no commission on this product - saving you money !
http://trustifs.com/breaking/ben_breaking_news_03092010.html
Tuesday, March 9, 2010
Contractors Required to Be Lead-Certified Effective April 22
Contractors required to be lead-certified effective April 22, 2010 or risk tens of thousands in fines from the EPA.
The Lead-Based Paint Renovation, Repair and Painting Program is a federally regulated program affecting contractors, property managers and others who disturb painted surfaces. This program applies directly to residential houses, apartments, and child-occupied facilities such as schools and day-care centers built before 1978. Read more about the program here.
Click here for EPA accredited training facilities.
Specific pollution insurance is available to respond to accidental contamination of an environment. For information on pollution insurance, contact Steve Burnett via phone at 302.239.2355 or by email.
Coverages available:
Same day premium indications available.
Steve Burnett, CIC, ARM
Executive Vice President, IFS. Steve is actively involved in the Associated Builders and Contractors of Delaware, the Delaware Contractors Association, and the Commercial Industrial Realty Council of Delaware.
The Lead-Based Paint Renovation, Repair and Painting Program is a federally regulated program affecting contractors, property managers and others who disturb painted surfaces. This program applies directly to residential houses, apartments, and child-occupied facilities such as schools and day-care centers built before 1978. Read more about the program here.
Click here for EPA accredited training facilities.
Specific pollution insurance is available to respond to accidental contamination of an environment. For information on pollution insurance, contact Steve Burnett via phone at 302.239.2355 or by email.
Coverages available:
- Lead
- Asbestos
- Mold
- EFIS
- Transportation Pollution
- Non-Owned Disposal Site
- Limits from $500,000 - $10,000,000
Same day premium indications available.
Steve Burnett, CIC, ARMExecutive Vice President, IFS. Steve is actively involved in the Associated Builders and Contractors of Delaware, the Delaware Contractors Association, and the Commercial Industrial Realty Council of Delaware.
Wednesday, March 3, 2010
Tuesday, March 2, 2010
Aetna enrolls IFS into their Premier Producer Service program.
Effective immediately, IFS Benefits employees have a new tool to service their Aetna clients with - the Premier Producer Service program. This highly exclusive service model gives IFS direct access to highly trained employees from Aetna. Key employees in various Aetna departments such as billing, enrollment, renewal and new business sales have been assigned to IFS. Dedicated phone, fax and e-mail helps identify the inquiries as a priority. "Our current Aetna clients will be thrilled to know that we have access to key contacts there." says Stephen Blewitt, GBA - Vice President of Insurance and Financial Services, LTD of Delaware (IFS).
IFS is the only insurance agency in Delaware who was awarded with this program. Blewitt is not surprised, "Our employees believe we are different from our competitors and this recognition validates that." In fact, with the growth in the employee benefit's division, IFS is one of the largest independently owned insurance agencies in Delaware.
Aetna re-entered the small group insurance market in Delaware in February 2009. They provide health benefits to more than 175,000 members in Delaware. Programs like this will give current and prospective IFS customers a comfort level that the inevitable issue that may arise will be addressed promptly.
IFS is the only insurance agency in Delaware who was awarded with this program. Blewitt is not surprised, "Our employees believe we are different from our competitors and this recognition validates that." In fact, with the growth in the employee benefit's division, IFS is one of the largest independently owned insurance agencies in Delaware.
Aetna re-entered the small group insurance market in Delaware in February 2009. They provide health benefits to more than 175,000 members in Delaware. Programs like this will give current and prospective IFS customers a comfort level that the inevitable issue that may arise will be addressed promptly.
Monday, March 1, 2010
National Flood Insurance Program Expired
The U.S. Senate failed to extend the National Flood Insurance Program past its February 28th deadline according to the Delaware Association of Agents & Brokers (DAIAB). Failure to extend this program prevents issuance of new flood policies, increasing coverage or renewing existing policies.
It is anticipated by DAIAB that the Senate will reinstate the program retroactively as early as next week.
It is anticipated by DAIAB that the Senate will reinstate the program retroactively as early as next week.
Walk It Off Starts Today
Walk it off Delaware starts today. Walk it off is a health challenge aimed at getting us out and walking toward a healthier future. Participants are supposed to log 10 miles worth of hoofing a week.
IFS has 23 people who have taken up the challenge. If you are interested in participating visit this website: http://www.delawareonline.com/walk
IFS has 23 people who have taken up the challenge. If you are interested in participating visit this website: http://www.delawareonline.com/walk
Tuesday, February 23, 2010
Joe the Plumber Doesn’t Need to Wait Any Longer
As President Obama and many other “experts” prepare for the televised bipartisan summit on health care reform scheduled for February 25th, many small business owners are looking for relief with their health insurance premiums. Don’t expect a clear answer next Thursday. Don’t misunderstand me, health care reform is coming – but what it will look like and when it will happen is anybody’s guess.
In fact, a new poll released last week by Rasmussen Reports (Click here to view) , shows that 61% of voters want Congress to throw out the existing bills and start all over again! 54% say to wait on this topic until after the congressional elections in November. Even if the bills were passed today – true reforms don’t kick in until 2013. That certainly isn’t going to help Joe the Plumber’s small business who just got walloped with a 20% insurance increase effective March 1st!!
So what does a business owner do? Certainly not wait for the government to come to the rescue. Call your insurance broker or find a new one with creative ideas to help your business control these insurance costs. The group health insurance marketplace is coming out with new and creative ideas all the time. Joe the Plumber doesn’t have time to learn all about these programs, but his broker does – or he better otherwise Joe will find a broker who does understand them.
New prescription plan riders, creative hospital co-pays and dual option plan designs are simple approaches that many businesses have yet to implement. The Consumer Driven Healthcare plans have been around since 2004. Have you taken advantage of the lower premiums and tax savings that come with Health Savings Accounts (HSAs)? How about reducing your premium in exchange for sharing the cost of a deductible with employees by implementing a Health Reimbursement Arrangement (HRA)? Go further and explore self funding your prescription plan or medical plan.
You say you have done all of these things and more, and still looking for relief? Although they make up a smaller portion of your employee benefit costs, have your broker work on the rest of your benefits, dental, life, disability, vision…..the list goes on.
So don’t wait around – take action now. Or call me and I’ll be your new broker and do the work for you.
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
In fact, a new poll released last week by Rasmussen Reports (Click here to view) , shows that 61% of voters want Congress to throw out the existing bills and start all over again! 54% say to wait on this topic until after the congressional elections in November. Even if the bills were passed today – true reforms don’t kick in until 2013. That certainly isn’t going to help Joe the Plumber’s small business who just got walloped with a 20% insurance increase effective March 1st!!
So what does a business owner do? Certainly not wait for the government to come to the rescue. Call your insurance broker or find a new one with creative ideas to help your business control these insurance costs. The group health insurance marketplace is coming out with new and creative ideas all the time. Joe the Plumber doesn’t have time to learn all about these programs, but his broker does – or he better otherwise Joe will find a broker who does understand them.
New prescription plan riders, creative hospital co-pays and dual option plan designs are simple approaches that many businesses have yet to implement. The Consumer Driven Healthcare plans have been around since 2004. Have you taken advantage of the lower premiums and tax savings that come with Health Savings Accounts (HSAs)? How about reducing your premium in exchange for sharing the cost of a deductible with employees by implementing a Health Reimbursement Arrangement (HRA)? Go further and explore self funding your prescription plan or medical plan.
You say you have done all of these things and more, and still looking for relief? Although they make up a smaller portion of your employee benefit costs, have your broker work on the rest of your benefits, dental, life, disability, vision…..the list goes on.
So don’t wait around – take action now. Or call me and I’ll be your new broker and do the work for you.
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Monday, February 15, 2010
Thursday, February 11, 2010
Wednesday, February 10, 2010
Our Office Is Closed Due to Inclement Weather
Our office is closed today, although, we are calling in to check our messages. Many of us on staff are telecommuting and have full access to all of the systems we need to serve you without being in the office.
Thursday, February 4, 2010
Sprinkler Contractors Program Update
Insurance & Financial Services is proud to
announce improvements in their National
program of Insurance for
Sprinkler Contractors.
Program Highlights and Features include:
Commercial General Liability
• Occurrence form E&O at policy limits
• Blanket Additional Insured CG2010 (11/85)
• Primary, non-contributory insurance CG2001
• Property Damage Extension-CCC $50,000 each occurrence/$100,000 Aggregate
• Deductibles as low as $1,000
• Lost Key coverage
• Per Project Aggregate
• “Per occurrence” deductible (not per claim)
• Waiver of Subrogation
For more information, contact Mike Fallon at 800 598-0420 or email
Mike.Fallon@ifs-de.com
Please complete the form below and fax this sheet to 302.239.5722 or
mail it back in the postage paid envelope included and we will contact you.
announce improvements in their National
program of Insurance for
Sprinkler Contractors.
Program Highlights and Features include:
Commercial General Liability
• Occurrence form E&O at policy limits
• Blanket Additional Insured CG2010 (11/85)
• Primary, non-contributory insurance CG2001
• Property Damage Extension-CCC $50,000 each occurrence/$100,000 Aggregate
• Deductibles as low as $1,000
• Lost Key coverage
• Per Project Aggregate
• “Per occurrence” deductible (not per claim)
• Waiver of Subrogation
For more information, contact Mike Fallon at 800 598-0420 or email
Mike.Fallon@ifs-de.com
Please complete the form below and fax this sheet to 302.239.5722 or
mail it back in the postage paid envelope included and we will contact you.
Friday, January 15, 2010
JJID, Inc. Receives Leadership In Safety Award
On December 7, 2009 JJID, Inc. of Bear, Delaware was awarded the
prestigious Leadership in Safety Award by both its business
insurance carrier, CNA, and insurance agent, Insurance & Financial
Services, Ltd. JJID, Inc. is a regional heavy and highway contractor
providing construction services for the private and public sector and
including highway, bridge, utility, wastewater, mechanical and
streetscape projects.
To date, JJID, Inc. is the only contractor serviced by CNA’s branch
office in Reading, Pennsylvania, to receive the award which
recognizes CNA customers who are committed to providing a safe
workplace. The award recognized JJID for an outstanding level of
attention to the safety of its employees and the public.
JJID, Inc. CEO Joseph Julian remarked during the presentation that
the safety award is clearly recognition of the efforts of his
management team and employees and of the partnership between
JJID, Inc. CNA and Insurance and Financial Service, Ltd.
prestigious Leadership in Safety Award by both its business
insurance carrier, CNA, and insurance agent, Insurance & Financial
Services, Ltd. JJID, Inc. is a regional heavy and highway contractor
providing construction services for the private and public sector and
including highway, bridge, utility, wastewater, mechanical and
streetscape projects.
To date, JJID, Inc. is the only contractor serviced by CNA’s branch
office in Reading, Pennsylvania, to receive the award which
recognizes CNA customers who are committed to providing a safe
workplace. The award recognized JJID for an outstanding level of
attention to the safety of its employees and the public.
JJID, Inc. CEO Joseph Julian remarked during the presentation that
the safety award is clearly recognition of the efforts of his
management team and employees and of the partnership between
JJID, Inc. CNA and Insurance and Financial Service, Ltd.
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