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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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Tips to Maximize Your HSA Benefits

Health Savings Accounts (HSA) are great ways to save tax-free money for medical expenses both in the current term, and for your retirement years. By making wise choices, you can maximize the benefit of these fantastic savings accounts. Let’s take a quick look at the basics and then explore some tips on how to make … 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

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

Healthcare Tax Repeal | MI Employee Benefits Firm

Recently, the President signed a bill repealing the Affordable Care Act’s Individual Mandate (the tax penalty imposed on individuals who are not enrolled in health insurance). While some are praising this action, there are others who are concerned with its aftermath. So how does this affect you and why should you pay attention to this … 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