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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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December 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:
Do you expect to participate in a Merger & Acquisition event in 2014?
35% Yes; 53% No; 12% Unsure at this time.
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Employer Services
Group Benefits Consulting
Payroll & Benefits Administration
Health Management & Wellness
Compliance / Health Reform
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Tread Lightly With Electronic Disclosures
In light of all the Affordable Care Act disclosure requirements, and with the year-distributions required for retirement plans, employers seem to be thinking more and more about distributing benefit plan notices electronically. Perhaps companies want to post them on a company website or e-mail them to employees, but there is no question that mailing paper notices to employees is becoming a less preferred option. Unfortunately, it is the preferred method for plan communications from a regulatory perspective.
- Employee Benefit News in Brief
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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| IRS Needs to Improve Security for Obamacare Tax Credits
 The IRS needs to strengthen the systems development controls for the Premium Tax Credit Project that it undertook to implement the Affordable Care Act, the Treasury Inspector General for Tax Administration said... Beginning next month, eligible taxpayers who purchase health insurance through the Health Insurance Marketplace exchange may qualify for and request the Premium Tax Credit to help them pay for their health insurance premiums.- Health Insurance Exchange
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| Obesity Disease Label Spells Trouble for Employers
 Earlier this year, the American Medical Association deemed obesity a disease. AMA board member Patrice Harris, M.D., said in a statement that "recognizing obesity as a disease will help change the way the medical community tackles this complex issue that affects approximately one in three Americans." - Employee Benefit Adviser inBrief
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Prior Approval, Pre-Authorization, Prior Authorization or Pre-Certification
 As part of my claims investigation process, I often find myself having to file an appeal for claims denied by a carrier for lack of pre-approval. Insurers vary in their terminology for pre-approval. For instance, some insurers use the term "prior approval", "pre-authorization," "prior authorization" or "pre-certification." But they all mean the same thing. - The McCart Group, Benefit Claims
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HHS Proposes Installment Payments for Health Care Reinsurance Fee
 Employers would be able to pay a controversial health care reform law fee in two installments under proposed rules issued last week by the U.S. Department of Health and Human Services.
Much of the $25 billion in assessments - to be paid annually over a three-year period - for the Transitional Reinsurance Program will be used to partially reimburse commercial insurers writing policies for individuals with high health care costs. - Business Insurance
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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 |
Rise in Cyber Attacks Requires Increased D&O Diligence
 It doesn't take much sleuthing to know that cybercrime is on the rise. Companies around the world are being besieged by would-be cyber criminals of all types, from both inside and outside the organization.
Yet directors and officers often do not give as much attention to cyber security as they do to other corporate risks. Experts say that this failure to recognize the potential impact of a cyber attack not only exposes the company to financial losses resulting from the incident itself, but can also expose the company and individual directors and officers to management liability claims not covered under standard cyber insurance policies.
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Wage and Hour Guidelines
General Do's and Don'ts for Easier FLSA Compliance
 The Fair Labor Standards Act (FLSA), along with pertinent state laws, governs minimum wage and overtime pay for non-exempt employees. Therefore, proper classification of an individual as either an independent contractor or an employee and as exempt or non-exempt from overtime is critical. |
Cargo Security Remains Hot Topic in Georgia Trucking
 CSA, Hours of Service and the driver shortage were among the top concerns identified in the 2012 annual trucking industry survey conducted by the American Transportation Research Institute (ATRI). As if there's not enough to contend with, GMTA members must pay close attention to another significant challenge - cargo and equipment theft. As the economy improves, thieves are staying busy stealing cargo, and it's having a profound impact on our supply chain. - The McCart Group, Risk Control & Safety
TRUX, Georgia Motor Trucking Association
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Workplace Hearing Loss Programs
 An estimated 9 million American workers experience exposure to high levels of noise at the workplace. People who work in construction, manufacturing and mining jobs are at especially high risk of losing their hearing. Hearing loss is a very common workplace injury, but it is also invisible. Therefore, it often takes a while for the loss to get bad enough for people to pay attention.
- 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
Final Rules Issued on Mental Health Parity and Addiction Equity Act
The Department of Labor, Health and Human Services and Treasury Department issued final rules Friday, November 8, 2013 implementing the 2008 Mental Health Parity and Addiction Equity Act (MHPAEA). These rules adopt and/or clarify many of the interim rules that were provided, aimed at expanding coverage of mental health and substance abuse in general and ensuring that health plan coverage is not more restrictive for mental health and substance abuse than for medical/surgical benefits.
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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 ...
McCart Team Winnings at National Chubb Charity Golf Tournament to go to Alzheimer's Association
 Golfers from The McCart Group, Henry Shurling and Mike Gravely, participated in the National Chubb Charity Challenge Golf Tournament along with Chubb's Southeast Regional Branch Manager, Scott Dalton; and Joe Chancey and John Ferguson from the law firm of Drew, Eckl & Farnham (a McCart client). The tournament was held at The Resort at Pelican Hill in Newport Beach, California on November 11th and 12th. Our group placed 18th out of 45 teams competing and brought back $9,000 for their charity of choice - the Alzheimer's Association of Georgia.
Earlier this year, Shurling, Gravely, Chancey, and Ferguson won the local golf tournament, held at the Marietta Country Club near Atlanta, in a dramatic sudden death 3-hole playoff. By winning the local event, they were awarded the opportunity to win up to $50,000 for their charity at the National Tournament.
The Alzheimer's Association of Georgia has been a client of the McCart Group for over 40 years. Their tremendous loyalty to the firm for so many years leads The McCart Group and its employees to support this great cause year after year.
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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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All of us at The McCart Group are hopeful that you have an enjoyable, meaningful holiday season with the special people in your life!
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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.
Suite 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. | |
The McCart Group keeps its contact database strictly confidential.
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