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Risk Management & Insurance news for the well-informed business leader
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December 2014
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EPIC Ranked #20 Among Top Large Group Employee Benefits Broker/Consultants
The McCart Group is proud to be the Southeast Region hub of EPIC Insurance Brokers. EPIC Ranked #46 Among the World's Top Insurance Brokers (read more) and also Ranked #20 Among Top Large Group Employee Benefits Broker/Consultants this year.
Strategic investments in consulting talent, client-focused resources, compliance support and technology propel firm into the top 50
Dec. 1, 2014 -- EPIC Insurance Brokers and Consultants, a retail property, casualty insurance brokerage and employee benefits consultant, has been ranked #20 among the nation's top large group employee benefits consultants by Employee Benefit Advisor.
Read Full Story
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Employer Services
Group Benefits Consulting
Payroll & Benefits Administration
Health Management & Wellness
Compliance / Health Reform
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Agencies Prohibit
All Employer Reimbursement of Individual Premiums
On November 6, 2014, federal agencies issued FAQs prohibiting all employer arrangements that reimburse employees for individual premiums. Both pre-tax and after-tax arrangements will violate the ACA's market reforms. These arrangements may trigger an excise tax of $100 per day for each applicable employee. Internal Revenue Code Section 105 reimbursement plans that are established to help employees purchase individual policies are also not permitted.
As additional details and requirements of the 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 Announces 2015 Adjustments for Certain Benefit Items
In Revenue Procedure 2014-61, the IRS set forth a variety of 2015 adjusted tax limits. Among other things, the notice addresses benefits related limits for health flexible spending accounts (FSAs), adoption assistance, and qualified transportation benefits.
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Health Plan ID (HPID) Requirement Delayed
On October 31st, The Centers for Medicare and Medicaid Services (CMS) announced an indefinite delay in the Health Plans ID (HPID) requirements applicable to self-funded employer sponsored health plans. Officially described as an enforcement delay, the announcement means that large self-funded employers will not be required to obtain an HPID by November 5th as originally required. No further information regarding a new deadline, or other changes to the HPID requirements, was contained in the announcement.- Compliance Alert, November 2014
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Minimum Value Plans Must Include Hospital and Physician Services
IRS Notice 2014-69 clarifies that plans excluding coverage for in-patient hospitalization or physician services do not provide minimum value as intended. The Notice advises that plans with such exclusions should not be adopted for 2015. The Notice provides limited transition relief for some plans. The Notice explains that the federal Minimum Value Calculator cannot be used to demonstrate minimum value of these plans, beginning in 2015. Employers should review and correct employee communications regarding these plans, in accordance with the Notice.
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Health FSA Limit Increased for 2015
Under the ACA, employee salary reduction contributions to a health FSA are subject to a maximum dollar limit per plan year. For 2013 and 2014 plan years, the dollar limit was $2,500. For 2015 plan years, employers may increase the dollar limit by $50, for a total of $2,550. Prior to the end of 2014, cafeteria plan documents should be updated for the ACA's new health FSA dollar limit, if adopted.
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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 |
Shock, Dismay and Disappointment: P&C Insurance Industry's Reaction to TRIA News
Despite strong encouragement from the insurance industry and business groups around the country, the U.S. Senate has adjourned for the year without passing the Terrorism Risk Insurance Program Reauthorization Act of 2014 (TRIPRA).
The Senate's action came despite strong bipartisan support, and after the U.S. House of Representatives had passed the legislation by a vote of 417-7. The bill will now have to be reintroduced into both houses of Congress in January as entirely new legislation.
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Protecting the Bottom Line: the 10 Business Income Coverages Most People Miss
The end of the year is a good time to review your business owners coverage for overlooked endorsements. Be sure to consider the following additional endorsements, advises Jerry Milton, CIC who is an education consultant for Insurance Agents & Brokers working with CISR, CIC and continuing education programs. - PropertyCasualty360
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What Does OSHA Say About Cell Phones at Work?
Many employees sitting at a desk or standing behind a sales counter are seen using their cell phones while at work. The personal use of cell phones at work is certainly not a best practice, but becomes an extremely dangerous practice when the workers who are chatting away or typing a text message are, at the same time, performing relatively complex tasks such as driving a forklift, operating a backhoe, or walking across a steel beam 20 feet in the air. Recently a worker severed several fingers on one of his hands while cutting steel with a chop saw (he was cradling his phone between his neck and ear - his own version of hands-free operation).
- The McCart Group Risk Control & Safety
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'Tis the Season for Cyber Attacks: 6 Ways to Protect Against Breaches
Online holiday sales in 2014 are estimated to rise between 8% and 11%, reaching as much as $105 billion, according to the National Retail Federation. Because shoppers are expected to do much of their holiday shopping online, this presents a heightened concern over cyber security.
Businesses should prepare against cyber attacks all year long, but they should be especially diligent during the holiday season when employees are at their busiest.
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It's Not All Fun and Games: Toys Still Come With Risks
"Trouble in Toyland" report reveals biggest risks associated with children's toys in 2014.
Parents should always be careful when providing their children with toys, but with the Christmas season right around the corner, those who plan on gifting the little ones in their lives with the latest toys need to be aware of the risks.
...And there are risks .
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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
U.S. Supreme Court to Review Challenge to ACA Subsidies
Several lawsuits challenge the government's ability to provide Affordable Care Act (ACA) subsidies in states that did not establish their own Marketplaces (Exchanges). On November 7, 2014 the U.S. Supreme Court agreed to hear one of these cases, King v. Burwell. A ruling from the Supreme Court is not expected until late June or early July 2015. Despite these pending cases, a statement issued by the White House confirmed that subsidies remain available in all states.
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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.
2014 National Health Observances
U.S. Department of Health & Human Services
Healthy Holiday Maintenance
It is the holiday season again; a time when exercise and eating routines are relaxed. All those tasty treats and great recipes are calling your name! The McCart Group wants to help you to avoid the pitfalls this holiday season brings. Here are some healthy tips to maintain your weight but also enjoy holiday goodies...!
- EPIC Wellness Consultant, Ayana Collins
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About The McCart Group and EPIC:
The McCart Group, an EPIC company, was founded in 1971 and has successfully expanded to become a leading property & casualty and employee benefits insurance brokerage and consulting services firm.
In 2014, The McCart Group merged its operations with EPIC (Edgewood Partners Insurance Center) and is now EPIC's platform for a strong regional hub in the Southeast. EPIC has more than 680 team members operating across the country in key cities in the West, Southeast, Northeast, Mid-Atlantic and the Midwest. With approximately $160 million in revenue, EPIC is ranked among the Top 20 retail insurance brokers in the U.S.
With over 100 professionals in Atlanta with many years of experience in their specific area of expertise, The McCart Group provides a one-touch resource for clients, ensuring superior, comprehensive services. We have created a values-based, client-focused culture that sustains a high level of customer service excellence.
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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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