That's pretty funny that an Assurant RSD recommended Zane since Assurant has a group that has a similar program with the singular exception that you can't reimburse for premiums since it is non-compliant
Did You Know You Can Reimburse Your Employees for Individual Health Insurance?
- Thread starter Zane Benefits
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That's pretty funny that an Assurant RSD recommended Zane since Assurant has a group that has a similar program with the singular exception that you can't reimburse for premiums since it is non-compliant
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I would bet he would be fired if Assurant knew he was recommending that. He probably just sees it as a way to boost individual production. But carriers have been issuing warnings against these arrangements. Both BCBSsc & UHsc have sent notices warning agents about the Safe Harbor period ending for these arrangements and how going forward fines will be imposed by the IRS.
He's about to be looking for a new job anyway since Assurant is getting out of the health insurance business.
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Exactly; that's what I was thinking as well. I'll miss Assurant.
no offense.... But why?
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I like their supplemental products as well as short-term. I've written hundreds. They pay every week like clockwork. Now, I don't feel comfortable writing even the supplements. I've been told they are keeping that business but I'm not sure.
They aren't keeping the business, they believe someone will buy the book and continue it.
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thank you for laying out all this information in your previous posts you did, saves me the time and frustration. Im surprised anyone is even debating this any longer, tells me there are real knucklehead agents out there.
If what you have posted were in fact not the case there would of been no reason any congressmen would have introduced HR 5860, duh.
Interesting subject. I would definitely side with caution on Zane at this time but it does look like there is legislation that could possibly help Zane's argument.
U.S. Senators Charles Grassley (R-IA) and Heidi Heitkamp (D-ND) and Congressmen Charles Boustany (R-LA) and Mike Thompson (D-CA) introduced the bipartisan legislation in the Senate (S.1697) and House (H.R. 2911), respectively, referred to as the Small Business Healthcare Relief Act (SBHRA).
As a result of the September 2013 guidance issued jointly by the Department of Treasury, Health and Human Services, and the Department of Labor, small business owners have been limited in their ability to use stand-alone health reimbursement arrangements (HRAs) to assist employees with out-of-pocket health insurance and healthcare costs.
If passed, the SBHRA will ensure small business owners can use Health Reimbursement Arrangements to assist employees with out-of-pocket health insurance and healthcare costs. The proposed legislation introduces a Small Employer Health Reimbursement Arrangement (SE-HRA) that would:
Allow small employers to use tax-advantaged funding to assist employees with their out-of-pocket individual health insurance and related medical costs
Provide exemptions from current compliance requirements and associated penalties
Does look like this law is being backed by Zane.
U.S. Senators Charles Grassley (R-IA) and Heidi Heitkamp (D-ND) and Congressmen Charles Boustany (R-LA) and Mike Thompson (D-CA) introduced the bipartisan legislation in the Senate (S.1697) and House (H.R. 2911), respectively, referred to as the Small Business Healthcare Relief Act (SBHRA).
As a result of the September 2013 guidance issued jointly by the Department of Treasury, Health and Human Services, and the Department of Labor, small business owners have been limited in their ability to use stand-alone health reimbursement arrangements (HRAs) to assist employees with out-of-pocket health insurance and healthcare costs.
If passed, the SBHRA will ensure small business owners can use Health Reimbursement Arrangements to assist employees with out-of-pocket health insurance and healthcare costs. The proposed legislation introduces a Small Employer Health Reimbursement Arrangement (SE-HRA) that would:
Allow small employers to use tax-advantaged funding to assist employees with their out-of-pocket individual health insurance and related medical costs
Provide exemptions from current compliance requirements and associated penalties
Does look like this law is being backed by Zane.
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I imagine they are hoping it passes well before the first penalties start hitting and make front page news how the small employer somewhere USA is getting hit with a $32k penalty thanks to his so called insurance agent.
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