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Stay up to date with Coronavirus (COVID-19) resources, legal and HR compliance updates, and insight on how to stay informed, prepared and healthy.

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Exploring Disability Insurance

Disability insurance is a type of insurance coverage that replaces a portion of your monthly income in the event you are unable to perform your work functions due to illness or injury. This insurance gives both yourself, and those who are dependent on you and your paycheck, a sense of financial security while you are … Continued

No Gym Required for These (Financial) Fitness Tips | MI Employee Benefits Group

If you’re like me, your social-media feeds are jammed with headlines about getting “healthy and fit” in the new year. Of course, they’re referring to diet and exercise and common resolutions to drop pounds and work out more often. But it’s just as important to be concerned about your financial fitness—where you can also drop … Continued

Pet Insurance | Michigan Benefits Agency

We’ve all heard the saying “A dog is a man’s best friend” and we know it’s true! Pets give us unconditional love, companionship, and joy. But, are we willing to pay the price when a hefty vet bill comes along? Pet insurance may help you stomach that unexpected emergency room charge due to Fluffy’s uncanny … Continued

Ask the Experts: Medical Loss Ratio (MLR) Rebates | MI Benefit Advisors

Question: Our company received a rebate check from our health insurance carrier. As the employer, we pay the bulk of premiums, although employees who enroll for coverage do pay a portion of the cost. Are there restrictions on how we can use the rebate money? Answer: Yes, there are restrictions on using the rebate. The … Continued

IRS Announces Employee Benefit Plan Limits for 2019 | Michigan Benefit Consultants

Many employee benefits are subject to annual dollar limits that are periodically increased for inflation. The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the annual dollar limits for various welfare and retirement plan limits for 2019. Although some of the limits will remain the same, many of the limits will increase for 2019.The … Continued

Choosing the Right Flexible Benefit for Employees | Michigan Benefit Advisors

Trying to decide which of the many employer-sponsored benefits out there to offer employees can leave an employer feeling lost in a confusing bowl of alphabet soup—HSA? FSA? DCAP? HRA? What does it mean if a benefit is “limited” or “post-deductible”? Which one is use-it-or-lose-it? Which one has a rollover? What are the limits on … Continued

Is Your Health Plan Affordable for 2019? | MI Benefit Advisors

The Affordable Care Act’s employer shared responsibility provision — often called the employer mandate or “play or pay” — requires large employers to offer health coverage to their full-time employees or face a potential penalty. (Employers with fewer than 50 full-time and full-time-equivalent employees are exempt.) Large employers can avoid the risk of any play … Continued

Look Backward to Plan Forward | Michigan Employee Benefit Advisors

We have entered Open Enrollment season and that means you and everyone in your office are probably reading through enrollment guides and trying to decipher it all. As you begin your research into which plan to choose or even how much to contribute to your Health Savings Account (HSA), consider evaluating how you used your … Continued