Happy New Year everyone!   We are very happy to announce we have expanded our agency Medicare and senior services!    Read all about what’s new in Medicare in 2019 here . . .    

This is a great article written by our friend Steve Cain, a leading authority on long-term care insurance.  Learn more about how Long-term Care insurance and LTC education  fits right into an employer’s financial wellness program.    I like the reference to a 401K plan. Financial Wellness Programs Can Benefit From A Group Long Term Care Option

Healthcare was the problem and he found a solution to cutting costs. Every business owner needs to read this! “The former CEO of GE pinpoints the moment he realized healthcare was his problem” https://www.businessinsider.com/former-ge-ceo-jeff-immelt-on-employer-funded-health-insurance-2018-8?amp;utm_medium

We just had an article on Employer Long Term Care Insurance published on the VICA Business Advocate Blog.  Take a look! Why More Employers are Offering Long-Term Care Insurance

I just returned from visiting my Mom at her residential care facility. She was sitting with her private caregiver in the dining room having lunch, or actually, trying to order it.   My mom has dementia and even a small task like selecting an item on the menu is a monumental undertaking.     Her waitress stood patiently for several minutes suggesting different sandwich options not making it easier.   I finally ordered her lunch, a turkey sandwich.  She was fine with it.   After living a very active full life with family, a career and worldwide travel, my 93 year old Mom lives in the memory unit at a residential care facility.   She is in a wheelchair and needs a lot of TLC and hands-on care.   Thank goodness she purchased a Long-Term Care policy back in 2001 to help defray the costs that now exceeds $8,000 a month.   We had no idea how expensive it could be or that she would require so much help.   She never wanted to move out of her home. Public awareness of long-term care insurance (LTC) is growing due, in part, to the realization that the government cannot or will not pay for long-term care costs. The increasing number of people joining the sandwiched generation (or working people responsible for the care of elderly family members) is another factor prompting employees to look to their employers for help. Many employers are responding by offering long-term care insurance.  I purchased my own Long-Term care policy about the same time as my Mom through my…

About a month ago, I received a call from a former client who was between jobs. She let her health insurance policy lapse and said “something” happened over the weekend and she needed to see a doctor right away. She wanted to purchase an individual policy and thought a short-term policy would be the answer. Here are some facts about short-term health insurance, sometimes called “junk” health insurance policies, and why we discouraged her from purchasing a short-term plan. Basically, short-term plans are exempt from many of the consumer protections of Obamacare. Among other things, the Affordable Care Act bans insurers from discriminating against applicants with preexisting conditions and requires policies to cover a comprehensive list of services. Short-term plans, in comparison, typically do not cover pre-existing conditions and may not offer coverage for important medical services such as diagnostic lab tests, prescriptions and maternity coverage. Our friend needed an MRI and blood work services many times not covered on short-term health plans. Additionally, any treatment would be considered to be for a pre-existing condition and not covered. Office visits and hospitalization are very limited – all the more reason that we typically suggest these plans only in very limited situations, and why SB 910 proposed by Senator Ed Hernandez (D-Azusa) wants to eliminate these plans entirely. On the national front, President Trump wants to make these plans more available, though not necessarily more useful for consumers, extending coverage from 90 days to 365 days because they are less expensive…

As business owners and decision makers we mostly hear from employment attorneys about labor updates and tools to protect our businesses.    At VICA’s  May Labor and Employment Committee meeting we had the rare opportunity to hear from plaintiff attorney, Eric Kingsley, who presented his “Ten Top Tips for Employers”.   Here are the takeaways  . . . Really look at Pay stubs, really look! At year end, check minimum wage standards Don’t skimp on breaks! Piece rate is inadvisable Pay for cell phones! Hire competent counsel Consider severance pay Arbitration – Be careful what you wish for! If the Plaintiff attorney is experienced consider engaging early Don’t be petty! I give five stars to the committee chair, Sue Bendavid, Labor and Employment Department Chair at Lewitt Hackman, for stepping outside the box and providing another perspective on behalf of business.

A.B. 2548 Commuter Benefit Policies?    I was about to fall asleep at the VICA Transportation Committee meeting this week wondering why I was there until this topic came up for discussion.   I had never really thought about it much before.  Hmm, employer sponsored commuter benefit programs.   I knew our larger clients offered employees a commuter benefit that allowed employees to use pre-tax dollars, up to $260 per month, excluded from gross income, to pay for transit commuting costs through a cafeteria plan.   Currently employers with over 250 full-time employees at a worksite are required to establish commuter programs to meet designated emission standards set by the South Coast Air Quality Management District. A new ordinance,  AB 2548 Commute Benefits Policy,  would require employers with 50-250 employees at a work site in L.A. County to give employees the ability to set aside up to $260 per month of their paycheck pre-tax to cover the cost of ride sharing, van pools, and transit.   It sounded like an excellent idea at first.   Why shouldn’t smaller employers be able to offer employees the same tax-advantaged plans as larger employers?  And given we have the worst congestion in the world in Los Angeles and the amount of time spent in traffic jams driving to work and back,  giving employees a financial incentive to switch public transit sounds good until I understood that employers would be mandated to implement the program.    Plus, small businesses already find it difficult to run their business and stay profitable in…

Are you planning on making changes to your benefits and compensation package as a result of the new tax law? Willis Towers Watson surveyed 333 companies earlier this year and many companies are making changes. Let me know your thoughts . . . https://www.plansponsor.com/employers-considering-enhancing-benefits-due-tax-reform/

Long-Term care Insurance has been on my mind a lot lately. It’s been a financial life saver for my mother so I want to share a bit of her story with you in the hope that it will help you. I am sure some of you Baby Boomers will relate. It all started more than four years ago. My Mom started falling on an almost a weekly basis. I could count on a phone call from the Kaiser emergency room on Saturday afternoons. She always thought there was something she could do differently to prevent falling. After years of balance classes at the YMCA it was hard for her to accept that her balance was so bad. She still has difficulty accepting it. After multiple falls, and injuries, she reluctantly agreed to have a care giver in her home. Despite excellent care, the falls continued. As a result, we had to move mom to a residential care facility for her safety, as well as to take care of her basic needs (referred to by Long-term care carriers as activities of daily living or ADLs) including bathing, dressing and managing her medication. After living a very active life filled with family, friends, travel, and hobbies, she could no longer care for herself. Being fiercely independent, she balked every step of the way, preferring to take care of herself. Sadly, she can no longer do even the most basic ADLs. After a year at a residential care facility she was diagnosed with…