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What Are Some Pros & Cons of HIPAA? | Chicago Benefit Advisors

Congress approved the Health Insurance Portability and Accountability Act (HIPAA) to guard the privacy of personal medical information, and to give individuals the right to keep their health insurance coverage for pre-existing conditions in place even if they change jobs. The law has done this, providing important safeguards for patients. But it has also increased … Continued

Employer Strategies for Managing Prescription Drug Costs | Chicago Benefit Advisors

Modern medicines have resulted in longer, more productive lives for many of us. Prescription drugs soothe sore muscles after a strenuous workout or manage the conditions of a chronic disease. Unfortunately, this use of prescriptions drugs can come with a hefty price tag.Americans are spending more money on prescription drugs than ever before and the … Continued

5 Things Millennials Need to Know About Life Insurance | Chicago Benefit Advisors

Being catapulted into the adult world is a shock to the system, regardless of how prepared you think you are. And these days, it’s more complicated than ever, with internet access and mobile devices being must-have utilities and navigating tax forms when they aren’t as “EZ” as they used to be.Maybe you’re still living with … Continued

Small Employers Ask about Form 5500 | Chicago Benefit Advisors

UBA’s compliance team leverages the collective expertise of its independent partner firms to advise 36,000 employers and their 5 million employees. Lately, a common question from employers is: If a health and welfare benefit plan has fewer than 100 participants, then does it need to file a Form 5500?If a plan is self-funded and uses … Continued

How Long do Employers Need to Keep Payroll Records? | Chicago Benefit Advisors

Under U.S. federal law, employers must keep the payroll records of their employees or former employees for a certain length of time. The amount of time, however, varies according to which statute you refer to, which can make knowing how long to keep employee records confusing. By keeping in mind the required time limits under … Continued

How to Be a Magnetic Organization | Chicago Benefit Advisors

When we hear something’s magnetic, it’s likely the first thought that comes to mind is attraction. By definition, a magnetic force is the attraction or repulsion that arises between electrically charged particles because of their motion. What perfect framing for an organization – the desire to attract (or repel) people to help advance your organization. … Continued

Top Misconceptions about Long Term Care Insurance | Chicago Benefit Advisors

In conversations with HR professionals and benefit brokers, we find that the topic of long-term care insurance (LTCi) is often covered in less than two minutes during renewal meetings. When I ask why the topic of conversation is so short, they tell me, “Employees just aren’t asking about it, so they must not be interested.”If … Continued

TeleMedicine | Chicago Benefit Advisors

It’s not surprising that 2017 stands to be the year many will have an experience to share using a Telemedicine or a Virtual Doctor service. With current market trends, government regulations, and changing economic demands, it’s fast becoming a more popular alternative to traditional healthcare visits. And, as healthcare costs continue to rise and there … Continued

Making Sense of the July 1 Paid Sick Leave Laws | Chicago Benefit Advisors

The number of paid sick leave laws for local areas and states around the country continue to grow.  If you have business operations in the areas listed below, plan to comply with the following new laws effective July 1, 2017: ArizonaChicago, IL – Cook CountyGeorgiaMinneapolis, MNArizonaEarned Pay Sick Time AccrualThe state of Arizona now allows employees … Continued