On March 9, 2023, the IRS released updated penalty amounts for 2024 related to the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA). For calendar year 2024, the adjusted $2,000 penalty amount is $2,970 … Continue reading
Category Archives: Insurance Carriers
DRIVER SAFETY: DISTRACTIONS April is distracted driving awareness month. Distracted driving is driving while doing another activity that takes your attention away from the road, and can greatly increase the chance of a motor vehicle crash. There are three main … Continue reading
April 27, 2023
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Agencies Issue Guidance on the End of the COVID-19 Emergencies (Revised based on the President’s Signature of H.J.Res. 7 on April 10, 2023)
On January 30, 2023, President Biden issued a Statement of Administration Policy announcing his intent to end the COVID-19 national and public health emergencies on May 11, 2023. However, on April 10, 2023, the President signed H.J.Res. 7, which … Continue reading
Posted in Affordable Care Act, Broker Alert, Coronavirus, Government, Health Insurance, Insurance Agent, Insurance Carriers
Tagged coronavirus, health insurance
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Alert to Dog Owners: Bite Claims Getting More Expensive
While the number of dog bite claims has dipped, the cost of dog bite claims has been growing significantly, new data from the Insurance Information Institute shows. Last year, the number of claims decreased 2.2%, but claim costs grew 32% to … Continue reading
Posted in Commercial Insurance, Home insurance, Insurance Agent, Insurance Carriers, Personal Insurance, Uncategorized
Tagged business owners, home insurance
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S-M-A-R-T Tips for Preventing Distracted Driving
As the parent of a new teen driver, there’s plenty to worry about. You might question your teen’s skills behind the wheel. Or you’re concerned they’ll become distracted by a cellphone, other passengers or trying to eat while on … Continue reading
Posted in Auto Insurance, Auto Insurance News, Insurance Agent, Insurance Carriers, Personal Insurance, Teenage Drivers, Traffic Accidents, Uncategorized
Tagged auto insurance, Insurance Agent, Sugar Land Auto Insurance
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ACA Pay or Play Penalties Will Increase for 2024
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New Laws Impacting Agents and Policy Issuance
Several new laws related to TWIA were passed by the Texas Legislature during this year’s regular legislative session. While most of them do not directly impact agents, we want you to have all of the information about how TWIA’s operations … Continue reading
Posted in Being prepared, Insurance Carriers, Natural Disasters, Uncategorized, Wind Insurance
Tagged Insurance, WInd
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Agencies Release First Rule on the No Surprises Act
On July 13, 2021, the DOL, HHS, and IRS released a joint Interim Final Rule implementing specified provisions of the No Surprises Act, a new law included within the Consolidated Appropriations Act, 2021. The No Surprises Act addresses, among other … Continue reading
Posted in Affordable Care Act, Being prepared, Broker Alert, Health, Health Insurance, Insurance Carriers
Tagged health, health insurance, Insurance
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Key HSA Features – 2021 Compliance
Health savings accounts (HSAs) are a popular type of tax-advantaged medical savings account available to individuals enrolled in high deductible health plans (HDHPs). Individuals can use their HSAs to pay for expenses covered under the HDHP until their deductible has … Continue reading
Posted in Health, Health Insurance, Insurance Carriers, Tax, Taxes
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IRS Releases Updated Form 720 Used For PCORI Fee Payments
As we recently reported, on June 8, 2020, the IRS released the applicable PCORI fee for plan years ending between October 1, 2019 and September 30, 2020. As we indicated in that alert, an updated Form 720 had not yet … Continue reading
Posted in Health, Insurance Agent, Insurance Carriers
Tagged alert, client, Insurance, IRS
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Carrier Non-Disclosure Agreements: Limiting Broker-Delivered Value
A disturbing new trend among certain carriers may make it more difficult for plan sponsors and their broker/consultants to discharge their plan responsibilities. As we all know, one of the key value propositions that an insurance broker provides to his/her … Continue reading
Posted in Broker Alert, Insurance Carriers
Tagged agreements, brokers, insurance carriers, law, legal, Non-disclosure
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