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The McCart Group Newsletter
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Risk Management & Insurance news for the well-informed business leader
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November 2013
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Greetings!
Please take a moment to respond to this month's poll question if you are interested.
What Do You Know?
Last month, we asked:
As you address the compliance requirements of the Affordable Care Act, which is the most critical component of your employee communication plan?
12% Summary of Benefits & Coverage; 38% Exchange Marketplace guidance; 12% The "what" and "why" of your healthcare reform strategy; 38% Each is equally critical to our communication plan.
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Employer Services
Group Benefits Consulting
Payroll & Benefits Administration
Health Management & Wellness
Compliance / Health Reform
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Explaining the Affordable Care Act (ACA) to Your Workers:
A How-To Guide
Information on the Affordable Care Act is coming at your workers from all sides. They will have questions for you. Here are 10 tips for communicating with your workers on the Affordable Care Act.
- Int'l Foundation of Employee Benefit Plans
As additional details and requirements of the Affordable Care Act (ACA) emerge, The McCart Group will update you on provisions and deadlines that affect employers and employer-sponsored group health plans.
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| Modification of "Use-or-Lose" Rule for Health Flexible Spending Accounts
 The IRS has issued Notice 2013-71 which modified the §125 Health Flexible Spending Account (HFSA) 'use-or-lose' rule to permit up to $500 of unused HFSA account balance to be carried over to the following plan year. HFSAs can offer the current 2½ month grace period, or the new $500 carryover option, but not both. The carryover amount also does not count against the $2,500 salary reduction limit applicable to HFSAs.
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| HHS Proposal Would Exempt Some Health Plans from ACA Reinsurance Fee
 Employers that self-insure and self-administer their health care plans would be partially exempted from a hefty health care reform law "reinsurance" fee under new rules the U.S. Department of Health and Human Services intends to propose. - Business Insurance
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Urgent Care Billing and Claims Payment
 Many hospitals are now opening up urgent care facilities and charging a facility fee in addition to their professional fees for services rendered. Urgent Care Centers are typically located in freestanding buildings, are usually independently owned by physicians or groups of physicians, and provide lab and x-ray services. However, about 25 percent are now owned by a hospital system and most of those are located off the main hospital campus. - The McCart Group, Benefit Claims
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Boiling Down the ACA
 A lot of employers and advisers might want a simple, at-a-glance way to see all the Affordable Care Act requirements that apply to their business(es). This is no easy task given group size, SHOP exchanges and self-funding variables. Let's take a look at a few provisions that are effective for the plan year beginning on or after January 1. - Employee Benefit News
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Employer Services
Have Questions?
Our Benefits and Payroll professionals at The McCart Group can provide you with additional information on any of the topics covered under the Employer Services section of the newsletter.
We use an integrated approach to design and implement employee benefit plans, payroll & benefit administration services, technology- based HR information systems, and health management and wellness programs. For more information, call 770-232-0202 or visit www.mccart.com today! |
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Risk Management & Insurance
Property & Casualty Insurance
Risk Management Consulting Claims Management Risk Control & Safety |
Historians May See 2013 as 'Cyber Tipping Point'
 Historians may look at the year 2013 as a "cyber tipping point" - the point at which businesses and governments finally realized the severity of the threats they were facing, according to Advisen, a New York-based commercial insurance research and data analytics firm.
Advisen said exposures such as operational disruptions caused by denial of service attacks, lost or stolen data, violation of privacy laws and intellectual property infringement have long been a concern of larger companies. But this year, smaller businesses began to increasingly realize that they were also at risk.
- Insurance Journal; Source: Advisen
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Prepare for New OSHA Whistleblower Enforcement
The Occupational Safety and Health Administration (OSHA) has long been tasked with protecting employees who are retaliated against after reporting workplace safety or health problems.
Enforcement has been lax, but that changed starting in 2010, when significant changes to the Whistleblower Protection Program were announced.
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Cargo and Equipment Theft Concerns Extend to Warehousing and Logistics
 The southeast is the fastest growing portion of the U.S. and growing populations consume more. Trade is expected to double in Georgia by 2023 and it is expected to double again in the following decade. Infrastructure improvements such as widening the Panama Canal and deepening the Port of Savannah are designed to make it easier to transport more goods, and all this points in the direction of continued and increased exposure to cargo and equipment theft. - The McCart Group, Risk Control & Safety
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The Theater of Safety
 A Safety Theater occurs when safety-related activities are intended to provide feelings of improved safety, but do little or nothing to actually make conditions safer and/or reduce the risks of illness or injury.
- The McCart Group, Risk Control & Safety
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Risk Management & Insurance
Have Questions?
Our P&C and Risk Management professionals at The McCart Group can provide you with additional information on any of the topics covered under the Risk Management and Insurance section of the newsletter.
Addressing the complex risk management issues and property & casualty insurance needs of public and private companies, our services include property & casualty insurance program analysis and design, merger & acquisition due diligence, workers' compensation programs, risk control, safety, and claim management. For more information, call 770-232-0202 or visit |
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Compliance Matters
IRS Releases Inflation-Adjusted Limits for 2014
On October 31st, the IRS released inflation-adjusted items for 2014.
The new limits are listed below:
CAFETERIA PLANS
For 2014, the dollar limitation on employee salary reduction contributions to health FSAs is unchanged at $2,500.
QUALIFIED TRANSPORTATION FRINGE BENEFIT
For 2014, the monthly limit on the amount that may be excluded from an employee's income for qualified parking benefits is $250 (a $5 increase from the 2013 limit of $245).
The combined monthly limit for transit passes and vanpooling expenses for 2014 is $130 (a $115 decrease from the 2013 limit).
ADOPTION ASSISTANCE PROGRAMS
The maximum amount that may be excluded from an employee's gross income under an employer-provided adoption assistance program for the adoption of a child will be $13,190 for 2014 (a $220 increase from the 2013 maximum of $12,970).
The amount that can be excluded from an employee's gross income for the adoption of a child with special needs is $13,190, regardless of the actual expenses involved in the adoption.
401(k) & 403(b) PLANS
For 401(k), 403(b) and most 457 plans, the elective deferral limit is $17,500. The catch-up contribution limit for employees ages 50 and over who participate in 401(k), 403(b), and most 457 plans is $5,500.
Read more on 401(k) and Pension Plan Limits for 2014
from the Society for Human Resource Management
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 Health and Wellness Good health, an active lifestyle, and general well-being are important to
The McCart Group! Look here each month for links to the latest health and wellness news and information. |
The McCart Group News Clips ...
Business Opportunities Boosted by Georgia's #1 Business Climate Ranking
Economic development trade publication Site Selection magazine has ranked Georgia's business climate the nation's best, Georgia's Governor Nathan Deal announced Monday.
The McCart Group is proud to be recognized for its leadership, growth, and success in the Atlanta area. - Chairman Joe McCart received a 2013 Gwinnett Chamber's Public Service Award
- Received the 2013 Pinnacle Award for 100+ employees from the Gwinnett Chamber
- Ranked as one of Atlanta's Top 10 Property & Casualty Insurance Brokers & Agents for 2013 in the Atlanta Business Chronicle
- Ranked as one of the 2013 Top 30 Best Places to Work in Atlanta by The Atlanta Business Chronicle
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Since 1971, The McCart Group has been solving complex risk management, insurance, benefits, and payroll / administrative support problems for public and private companies. For more information, visit www.mccart.com.
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The McCart Group is proud to be the exclusive Assurex Global Partner in Georgia, since 2005. Assurex Global is an international insurance, risk management, and financial services enterprise of independent broker partners, combining the experience, expertise, products, and services of professionals around the world.
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www.mccart.com
The McCart Group 2405 Satellite Blvd. # 200
Duluth, GA 30096
770-232-0202
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This newsletter is a periodical publication of The McCart Group and should not be construed as legal advice or a legal opinion on any specific facts or circumstances. The contents are intended for general information purposes only, and you are urged to consult a lawyer or other professional advisor concerning your own situation and any specific facts and circumstances that apply. | |
© 2013 The McCart Group. All rights reserved. The McCart Group keeps its contact database strictly confidential.
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