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Furloughs and Employee Benefits

The Impact of a Furlough on Employee Benefits

In a furlough workers are given leave without pay but remain on the payroll. Here's how their employee benefits, health care coverage, FSA coverage, and HRA and HSA contributions can be affected.
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group health insurance carrier updates

Group Insurance Carriers – May 8 Update on COVID-19 Expenses and Deadlines

Please see this updated list of COVID-19-related benefits changes from group insurance carriers AETNA, Horizon BCBSNJ, Independence Blue Cross, and UnitedHealthcare Oxford. This information includes expense coverage, antibody testing, and deferred group premium payment deadlines.
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Kirwan Benefits Questions During A Crisis

Questions to Ask Your Financial Advisor During Market Volatility

The COVID-19 crisis has made many investors jittery. These questions to ask your financial advisor during market volatility will help focus your discussion and navigate uncertain times.
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group health insurance

Group Health Insurance Updates: Independence Blue Cross, Aetna, and Horizon BCBSNJ

This List of Benefits Resources consists of websites and information to help you and your employees navigate through circumstances that may arise in the near future. Also below you will find information on COVID-19 Scenarios and Benefits from the NJ Department of Labor, which is helpful in knowing what type of benefits are available to workers in a variety...
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COVID-10 Scenarious

Important Benefits Resources: COVID-19 Scenarios, Telehealth Providers

This List of Benefits Resources consists of websites and information to help you and your employees navigate through circumstances that may arise in the near future. Also below you will find information on COVID-19 Scenarios and Benefits from the NJ Department of Labor, which is helpful in knowing what type of benefits are available to workers in a variety...
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Coronavirus Update: Insurance and Investments

Coronavirus: Update on Covered Services, Proactive Response to Market Flux

This detailed carrier list for the majority of plans in our tri-state area reflects the “covered services and informational sources available” in the event that you, your relatives and/or friends should be so unfortunate to contract or suspect any issues relative to COVID-19.
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IRA and HSA Contributions

Tax-Smart Strategy – Max Out Your 2019 IRA and HSA Contributions Before April 15, 2020

The rules for both IRAs and HSAs (Health Savings Accounts) allow contributions to 2019 accounts up to Tax Day on April 15, 2020. These contributions lower your taxable income, which can equate to a more significant tax break.
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Level-funded plans

Advantages of Level-Funded Health Plans

Level-funded health plans, a hybrid between fully funded and self-funded plans, are growing in popularity for small- and medium-sized businesses. These plans can provide employers substantial savings along with more flexibility. And, if a company keeps claims below a pre-determined threshold, they may see a refund when they renew.
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Cafeteria Plans

What Is a Cafeteria Plan?

Cafeteria plans allow employees to choose among a variety of tax-deductible and non-taxable offerings to create a benefits package that best meets their needs. The reduced tax burden on companies can often offset the cost of offering these options.
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