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Higher Satisfaction Through Higher Education | Ohio Benefit Advisors

When evaluating employee benefits, essentials such as health and dental plans, vacation time and 401(k) contributions quickly come to mind. Another benefit employers should consider involves subsidizing learning as well as ambitions. Grants and reimbursements toward advanced degrees and continuing education can be a smart investment for both employers and employees.Educational benefits are strongly linked … Continued

New Rules for Disability Benefit Claims Are Now in Effect | Ohio Benefit Advisors

The Department of Labor’s new claim rules for disability benefits took effect April 2, 2018. The changes were announced over a year ago, but the effective date was delayed to give insurers, employers, and plan administrators adequate time for implementation. Although we’ve reported on the key issues in this blog previously, now seems like a … Continued

A DOL Audit Can Happen to You | Ohio Benefit Brokers

Summary plan descriptions (SPDs) are required for all retirement, health, and welfare plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). However, misconceptions about this requirement are widespread. ERISA attorney Stacy H. Barrow, partner with Marathas Barrow Weatherhead Lent LLP, had a chat with ThinkHR about the importance of having proper ERISA … Continued

Price Shop Healthcare | Ohio Benefit Advisors

As the costs of health care soar, many consumers are looking for ways to control their medical spending. Also, with the rise of enrollment in high deductible health plans, consumers are paying for more health care out-of-pocket. From medical savings accounts to discount plans for prescriptions, patients are growing increasingly conscious of prices for their … Continued

Here’s Where #FOMO Is Doing You a Disservice | Ohio Employee Benefits

Fear of missing out—is more than just a hashtag. Many Millennials admit that #FOMO drives a lot of their decisions on what they wear, what they do, even what they eat and drink. We live in a world of social influence.But one area where #FOMO really does you a disservice? No one is afraid of … Continued

DOL Fiduciary Rule Overturned | Ohio Benefit Brokers

In its March 15, 2018, decision, the U.S. Court of Appeals for the Fifth Circuit overturned the U.S. Department of Labor’s (DOL) Fiduciary Rule that expanded the definition of an investment advice fiduciary under the federal Employee Retirement Income Security Act (ERISA). Under the Fiduciary Rule, investment brokers were going to be required to put … Continued

Ask the Experts: Gathering Race and Ethnicity Information for the EEO-1 Report | Ohio Employee Benefit Advisors

Question: What is the best way to get ethnicity and race information for each employee for the EEO-1 report? Answer: Self-identification is the preferred method for gathering the required information for the EEO-1 report. As an employer, you are required to ask employees to self-identify if they wish; however, employees are not required to self-identify. If … Continued

All About Medical Savings Accounts | Ohio Benefit Advisors

Taking control of health care expenses is on the top of most people’s to-do list for 2018.  The average premium increase for 2018 is 18% for Affordable Care Act (ACA) plans.  So, how do you save money on health care when the costs seems to keep increasing faster than wage increases?  One way is through … Continued

2018 HSA Family Contribution Limit Reduced by $50 | Ohio Benefit Brokers

On March 5, 2018, the Internal Revenue Service (IRS) announced a reduction in the maximum annual contribution allowed for Health Savings Accounts (HSAs) in 2018. The change does not affect people whose HSA contributions are based on self-only health coverage, but it does affect those with family coverage under a qualifying High Deductible Health Plan … Continued

6 Ways to Keep the Flu from Sidelining Your Workplace | Ohio Employee Benefit Advisors

This year’s flu season is a rough one. Although the predominant strains of this year’s influenza viruses were represented in the vaccine, they mutated, which decreased the effectiveness of the immunization. The flu then spread widely and quickly, and in addition, the symptoms were severe and deadly. The U.S. Centers for Disease Control and Prevention … Continued

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