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Coronavirus Alert: What You Should Know

… have included information from several authorities below. First, a message from our leaders: “No doubt the coronavirus has the potential to significantly impact medical and work absence costs. We are incorporating our best advice on risk avoidance and mitigation practices to prepare our clients across the country.” – Craig Hasday, National Employee Benefits Practice Leader “We have already seen an impact on our multinational companies, and there is potential for these effects to be substantial, especially as it relates to the supply chain. It is forcing companies to evaluate not only their short-term operations but their long-term strategic plans …

https://www.epicbrokers.com/insights/coronavirus-alert-what-you-should-know/

EPIC Adds Trent Sullivan as a Producer

EPIC Insurance Brokers and Consultants, a retail property, casualty insurance brokerage and employee benefits consultant, announced today that Trent Sullivan has joined the firm as a Producer in the firm’s Edgewood Healthcare Advisors’ Practice. Sullivan will be responsible for new business development and the design and management of healthcare risk and insurance programs for clients. He brings over 20 years of experience in healthcare and municipal risk with successes in implementing creative and cost effective solutions. Sullivan joins from OneDigital in Farmington, CT. Said Susan Tewhill, National Managing Principal, “Trent’s extensive healthcare risk management background in both the …

https://www.epicbrokers.com/insights/epic-adds-trent-sullivan-as-a-producer/

Are Healthcare Costs Stabilizing?

The Health Care Cost Institute found in their most recent Health Care Cost and Utilization Report that per capita healthcare spending increased by 4.4% in 2018 over 2017 spending, a slight increase in trend which was 4.2% in the prior year; however, from 2014 to 2018 healthcare costs increased at rates slightly lower than the general rate of inflation. Increases in health spending are impacted by our aging population, but the biggest increase is due to higher prices for drugs and medical services. Notably in the report, healthcare cost trends exclude the impact of manufacturer’s drug rebates …

https://www.epicbrokers.com/insights/are-healthcare-costs-stabilizing/

Peace of Mind Should Be Top of Mind

… thus better able to serve the business and clients. You’ll want to keep them around and attract new top talent with your benefits. Consider this when writing your maternity and paternity leave policies and voluntary benefits offerings. STD offered on a post-tax payout schedule (meaning that when the employee receives the benefit, they do not have to pay taxes on it) is definitely something that all employers should think about. Viewpoints from Allison Hasday As I get farther along into my pregnancy, I’ve been thinking more about family leave benefits and policies and how they affect not …

https://www.epicbrokers.com/insights/peace-of-mind-should-be-top-of-mind/

2020 Overtime Laws Webinar Playback and Resources

… exempt and been subject to overtime. Our 2020 Overtime Laws Webinar February 12 covered all the moving parts, from new federal changes to a general recap of the Fair Labor Standards Act (FLSA). Here’s a recording of the webinar, in case you’d like to play it back. EPIC Employee Benefits Compliance Services For further information on this or any other topics, please contact your EPIC consulting team. Learn About Our Employee Benefits Compliance Services EPIC offers this material for general information only. EPIC does not intend this material to be, nor may any person receiving this information construe …

https://www.epicbrokers.com/insights/2020-overtime-laws-webinar-playback-and-resources/

Can ICHRAs Be Used to Make Healthcare a Defined Contribution Benefit?

… allow an employer to use the ICHRA for all, or a class of, employees; however, an employer cannot offer an ICHRA and traditional health insurance to the same group of employees. Eligible classes include full-time, part-time, salaried, non-salaried, seasonal, temporary, employees in a waiting period, collectively bargained employee groups, geographic rating area of a workplace, and non-resident aliens with no U.S. source income. Classes must consist of at least 10 employees for groups with 100 or fewer employees, 20 for groups with more than 200 employees, and 10% (round down to nearest whole number) of …

https://www.epicbrokers.com/insights/can-ichras-be-used-to-make-healthcare-a-defined-contribution-benefit/

The Trump Administration Introduces New Rules to Radically Change Medicaid

Last week, the Trump administration released its new Healthy Adult Opportunity plan. This plan is an effort by Republicans to ease Medicaid rules and allow states better control of the cost of providing indigent care. Medicaid is a shared funding obligation of the federal government and states and accounts for just under 30% of state spending and around 10% of the federal budget. It is an open-ended program, which requires payment for all needed care. This new plan allows states to opt out of the current funding program and in its place receive a block grant with spending caps …

https://www.epicbrokers.com/insights/the-trump-administration-introduces-new-rules-to-radically-change-medicaid/

EPIC Adds Blake Chauvin as Vice President

EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, announced today that Blake Chauvin has joined the firm as a Producer in its Concord, California office.  Chauvin, will be responsible for risk management consulting and the design, placement and management of property and casualty insurance programs. He will primarily focus on Private Equity and M&A clients and their unique needs. Chauvin brings over 20 years of experience in risk management and business consulting. He has a wealth of knowledge in working with clients in technology, energy, and healthcare, large retail and real …

https://www.epicbrokers.com/insights/epic-adds-blake-chauvin-as-vice-president/