Christopher D. H, a Midvale man, pleaded guilty in federal court to falsifying documents as part of a mortgage fraud scheme. Specifically, he admitted to falsifying documents to artificially inflate home prices. Mortgage fraud involving inflated home values and falsified documents was an ongoing issue. Regulators were working to address mortgage fraud through increased prosecution and new laws targeting fraudulent practices.
This document summarizes the Qualified Mortgage (QM) final rule established by the Consumer Financial Protection Bureau under the Dodd-Frank Act. Key points of the rule include that lenders must verify a borrower's ability to repay and meet standards such as a maximum 43% debt-to-income ratio. Loans meeting Qualified Mortgage standards have a legal presumption of complying with the ability-to-repay requirements and those within 1.5% of average rates have a "safe harbor" protection against litigation. The rule aims to prohibit predatory lending while clarifying standards for responsible lending.
Annuity Basics is part of our continuing series of presentations for Financial Services Industry Training. We develop custom training specific to the financial services industry. Contact us for a quote or discussion of your needs.
This document outlines 25 reasons to own life insurance through a qualified retirement plan. Some key benefits include using pre-tax dollars to pay premiums, avoiding taxes on death benefits, and using life insurance as an investment within a balanced retirement portfolio. Life insurance can also be used to fund buy-sell agreements for business owners or provide benefits to spouses and heirs in the event of premature death.
Annuities have existed since Roman times as a way for citizens to receive yearly payments in exchange for an upfront payment, becoming popular among nobles in medieval times and taking more modern form with the founding of insurance companies in the 18th century that offered annuities as a form of investment and life insurance.
The document discusses trends in the professional indemnity insurance market for accountants. It notes that most survey respondents expect insurance rates and claims to rise in 2010. Underwriters expect increased claims activity and costs compared to 2009. The document emphasizes the importance of promptly notifying insurers of any circumstances that may lead to a claim. It provides examples of what constitutes a notifiable circumstance and stresses that members should err on the side of notification. The CIMA Members in Practice Scheme offers benefits like best rates, customized coverage, and legal assistance from Fishburns solicitors.
Christopher D. H, a Midvale man, pleaded guilty in federal court to falsifying documents as part of a mortgage fraud scheme. Specifically, he admitted to falsifying documents to artificially inflate home prices. Mortgage fraud involving inflated home values and falsified documents was an ongoing issue. Regulators were working to address mortgage fraud through increased prosecution and new laws targeting fraudulent practices.
This document summarizes the Qualified Mortgage (QM) final rule established by the Consumer Financial Protection Bureau under the Dodd-Frank Act. Key points of the rule include that lenders must verify a borrower's ability to repay and meet standards such as a maximum 43% debt-to-income ratio. Loans meeting Qualified Mortgage standards have a legal presumption of complying with the ability-to-repay requirements and those within 1.5% of average rates have a "safe harbor" protection against litigation. The rule aims to prohibit predatory lending while clarifying standards for responsible lending.
Annuity Basics is part of our continuing series of presentations for Financial Services Industry Training. We develop custom training specific to the financial services industry. Contact us for a quote or discussion of your needs.
This document outlines 25 reasons to own life insurance through a qualified retirement plan. Some key benefits include using pre-tax dollars to pay premiums, avoiding taxes on death benefits, and using life insurance as an investment within a balanced retirement portfolio. Life insurance can also be used to fund buy-sell agreements for business owners or provide benefits to spouses and heirs in the event of premature death.
Annuities have existed since Roman times as a way for citizens to receive yearly payments in exchange for an upfront payment, becoming popular among nobles in medieval times and taking more modern form with the founding of insurance companies in the 18th century that offered annuities as a form of investment and life insurance.
The document discusses trends in the professional indemnity insurance market for accountants. It notes that most survey respondents expect insurance rates and claims to rise in 2010. Underwriters expect increased claims activity and costs compared to 2009. The document emphasizes the importance of promptly notifying insurers of any circumstances that may lead to a claim. It provides examples of what constitutes a notifiable circumstance and stresses that members should err on the side of notification. The CIMA Members in Practice Scheme offers benefits like best rates, customized coverage, and legal assistance from Fishburns solicitors.
The document summarizes regulations issued by HHS regarding the transitional reinsurance program established by the Affordable Care Act. The reinsurance program requires health insurers and self-insured group health plans to make contributions in order to help stabilize premiums for individual market policies from 2014-2016. Contribution amounts are based on a national per capita rate, and the total contributions collected will be $12 billion in 2014, $8 billion in 2015, and $5 billion in 2016. Certain limited benefit plans and government-sponsored plans are exempt from making reinsurance contributions.
This document summarizes the features of LIC's Single Premium Endowment Plan, a participating non-linked savings plan. Key details include: premium is paid as a lump sum upfront; death benefit equals sum assured plus bonuses if death occurs during the policy term; sum assured plus bonuses is paid if surviving at end of term; bonuses may be earned annually based on corporation's profits; loan and surrender benefits are provided. The plan provides savings, protection, and liquidity for individuals aged 90 days to 65 years for 10-25 year terms.
LIC's New Money Back Plan-25 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
Money Back Plan is a type of endowment life insurance policy that provides periodic survival benefits to the policyholder. Some key points:
- Survival benefits are paid as a percentage of the sum assured after fixed intervals, such as every 5 years.
- The full death benefit of the sum assured is paid out if the policyholder passes away, regardless of any survival benefits already received.
- Money Back Plans offer liquidity to the policyholder and can be used for needs like children's education over the term of the policy.
This document provides an overview of annuities, including:
- Annuities are contracts with insurance companies that provide benefits in exchange for premium payments. They are not life insurance.
- There are several types of annuities such as fixed, fixed indexed, and variable annuities.
- Annuities offer benefits like safety, flexibility, earnings potential, and protection. Features include tax deferral, minimum guarantees, beneficiary designation, annuitization, control, death benefits, and withdrawal provisions.
LIC's New Money Back Plan-20 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
This document outlines the terms and conditions of the FutureInvest Regular Savings & Whole of Life policy offered by Orient Insurance PJSC. Some key details include:
- The policy provides life insurance coverage and allows policyholders to invest in various investment funds.
- On death of the life assured before maturity, the death benefit will either be the sum assured or fund value, whichever is higher.
- On survival to maturity, the fund value will be paid out as a lump sum. Some optional extended coverage like life insurance may also be provided.
- The policy document defines various terms, covers aspects like premium payments, non-payment provisions, benefits and payout options.
Allianz Life North America – Rethinking What’s Ahead in RetirementOpen Knowledge
In this analysis of the United States’ retirement landscape, Gary C. Bhojwani, chairman of Allianz Life Insurance Company of North America and member of the Board of Management, Allianz SE, Insurance USA, traces the evolution of retirement over the past 70 years and identifies a decisive shift in the financial mindset of all Americans from accumulation of assets to a focus on lifetime income and guarantees. Emphasizing that annuities are set to play a vital role, he highlights the opportunities presented by insured retirement solutions and suggests the demand for guaranteed lifetime income will only grow in coming years.
Annuities explained is a presentation which will explain everything you need to know about the major types of annuities, what are the best annuities and how to select the most appropriate annuity in your particular situation.
Annuity is a term that is familiar to most of us and that we have been now hearing for over 200 years. Annuities are nothing but products offered by insurance companies that allow you to save on taxes and derive benefit on retirement. These accumulated funds are later repaid to you either for a fixed term, say 5 to 10 year, or for the rest part of your life.
Annuities are quite similar to Collateral deposits. CDs are offered by banks, similarly, insurance companies offer different return schemes on your annuity investments.
What is the meaning of annuity?
For a layman, an annuity is nothing but a contract between two parties, a person, also called as the insured and an organization which is nothing but an insurance company. The insurance company agrees to pay the insured an agreed upon benefit either in the form of regular interval payments or in lump sum.
Who offers an Annuity?
Annuities are presented by Insurance companies. They reach customers by the way of licensed agents. But before you chose to invest with the insurance company, you should check their insurance licenses. State and federal laws and insurance commissions govern the reserve funds, also known as State Legal Reserve Pools.
How does an Annuity Scheme work?
Annuity is a contract. The insured makes a deposit with the insurance company either in a single go or through regular small installments. Depending upon the type of annuity you choose, the money deposited with the insurance company will earn fixed or variable return.
Different Types of Annuity:
• Single premium immediate annuity: The amount is paid in lump sum and the benefits are derived from the immediate next month onwards.
• Single premium deferred annuity: Again, the amount is paid in lump sum but the withdrawals can be made only after specified time limit
• Annual premium deferred annuity: The premium paid to the insurance company is either in form of quarterly, or monthly or bi-annual or annual installments. Withdrawals are deferred to a later date.
• Variable annuity: This is more of a combination annuity scheme where you can chose either to pay a lump sum amount or in installments. You can choose the investment vehicle as well. Thus, the growth of your fund depends on vehicle chosen.
Thus, depending upon the scheme chosen by you, the amount deposited by you grows. At a time elected by you, the insurance company will start disbursing your deposits from your annuity account.
You also have a choice of withdrawing funds in lump sum after a certain time elapses.
Benefits associated with Annuities:
• Tax Deferral: The money invested in an annuity scheme stays tax free and grows tax free till the time you withdraw it. The age set for withdrawals is 59.5 years. Any funds withdrawn prior to this age bear an annual penalty charge of 10%.
• The insured gets a secured guaranteed return for the rest of life, especially post retirement
Thus, annuity offers you a medium of saving, ensuring avoiding probate for your heirs, safety of funds and much more.
Torus is a global specialty insurer with operations in 10 countries and specialized ventures including Lloyd's Syndicate 1301. They offer customized insurance products for industries like energy, construction, aviation, and healthcare. For healthcare clients, Torus believes in compensating injuries fairly while rewarding safe practices. They provide tools to customize coverage like swing plans, premium discounts, and split retentions tailored to a client's risks and claims history. The goal is providing appropriate coverage at the lowest cost to allow clients to focus on patient care.
This document provides information on term assurance policies, including:
1) Term assurance policies offer life insurance protection for a fixed term, with the sum assured payable only upon death during the term. Policyholders can choose the length of coverage and premiums are based on age, health, sum assured, and term length.
2) Types of term assurance policies include level term (fixed payout and premium), decreasing term (reducing payout and premium), increasing term (increasing payout), and convertible term (option to convert to another policy type).
3) The document also mentions family income benefit policies, which provide dependents with a regular income instead of a lump sum, and notes that as part
The document discusses various aspects of life insurance policy servicing, including the rights and duties of the insured party. It covers topics like premium payments, grace periods, non-forfeiture provisions, surrender value, loans, foreclosure, revival of lapsed policies, nomination of beneficiaries, and assignment of policies. Key points mentioned include contractual obligations to keep policies active, options for unpaid premiums, requirements for reviving lapsed policies, rules around nominating and assigning beneficiary rights.
Välkommen till en resa i den digitala världen.
Att förstå hur den digitala utvecklingen påverkar individers beteende, yrkesroller, verksamheter och branscher är en framgångsfaktor för dig som företagare och ditt företags framtida konkurrenskraft.
De digitala miljöer kan öppna upp nya möjligheter, nya marknader, nya affärer, möjlighet till kostnadsbesparingar, högre produktivitet, bättre avkastning och konkurrensfördelar.
Då gäller det att veta vad som är viktigt att prioritera.
Föreläsare: Marie Andervin från Digital Intelligence Scandinavia, som har lång erfarenhet av social medier och både utbildar och föreläser i ämnet.
The document provides information from a pharmacist to educate patients on various health conditions and diseases. It discusses obesity, asthma, smoking, psoriasis, and hypertension. For each condition, it defines what it is, symptoms, risks, treatment options, lifestyle adjustments, and advice for patients from the pharmacist. The goal is for pharmacists to properly educate patients, especially those with chronic illnesses, to better manage their conditions.
AdSAM provides quantitative and qualitative market insights by combining traditional research measures with measures of emotional response, which has been validated over 25 years of research. Emotional responses are processed differently in the brain than words and can more reliably capture reactions. Studies show emotional measures from AdSAM better predict behavioral intent and prescribing decisions for drugs compared to traditional attributes alone. AdSAM has been used in hundreds of studies globally in various therapeutic areas to understand audience, HCP, and patient emotions to help improve marketing strategies, messaging, and relationships.
Southwest Airlines moved for summary judgment on all claims brought by plaintiff Douglas Rydalch. Rydalch alleges Southwest violated FMLA and ADA by terminating his employment for using FMLA leave. Southwest asserts it fired Rydalch for improperly using FMLA leave to extend his Christmas vacation in 2007. The court found Rydalch did not offer evidence to show Southwest's reason for firing him was pretextual. Therefore, the court grants Southwest's motion for summary judgment on all of Rydalch's claims.
1001tech i pvox-call-contact-centre-solutions-overview1001tech IPvox
1001tech IPvox provides IP telephony and contact center software solutions for small and medium-sized businesses. Their flagship product, EzyTouch, is an all-in-one call center platform that offers features such auto attendant, skills-based routing, voice logging, reporting, and integration with CRM software. Their solutions aim to improve customer service and reduce costs through increased efficiency of customer management operations.
Baral v. Commissioner of Internal Revenue opinionThompsonPub
This document is a tax court case regarding medical expense deductions claimed by the estate of Lillian Baral for 2007. It summarizes that Ms. Baral suffered from dementia and required 24-hour care. Her brother paid $760 to her doctors, $5,566 to caregivers for supplies, and $49,580 to caregivers for their services. The tax court had to determine what portions of these expenses qualified as medical care deductions under Section 213 of the tax code.
In this case, Lillie Middlebrooks sued her former employer Godwin Corporation for failing to provide proper notice of her COBRA rights. The court held a bench trial and issued findings of fact and conclusions of law. The court found that while Godwin sent Middlebrooks a COBRA notice, it was deficient and missing several required disclosures. The court also determined that Middlebrooks' termination was not for gross misconduct, so she was entitled to a post-termination COBRA notice. However, Middlebrooks did not demonstrate any prejudice from the deficiencies. The court concluded Godwin failed to provide a fully compliant COBRA notice and awarded Middlebrooks $500.
The document summarizes regulations issued by HHS regarding the transitional reinsurance program established by the Affordable Care Act. The reinsurance program requires health insurers and self-insured group health plans to make contributions in order to help stabilize premiums for individual market policies from 2014-2016. Contribution amounts are based on a national per capita rate, and the total contributions collected will be $12 billion in 2014, $8 billion in 2015, and $5 billion in 2016. Certain limited benefit plans and government-sponsored plans are exempt from making reinsurance contributions.
This document summarizes the features of LIC's Single Premium Endowment Plan, a participating non-linked savings plan. Key details include: premium is paid as a lump sum upfront; death benefit equals sum assured plus bonuses if death occurs during the policy term; sum assured plus bonuses is paid if surviving at end of term; bonuses may be earned annually based on corporation's profits; loan and surrender benefits are provided. The plan provides savings, protection, and liquidity for individuals aged 90 days to 65 years for 10-25 year terms.
LIC's New Money Back Plan-25 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
Money Back Plan is a type of endowment life insurance policy that provides periodic survival benefits to the policyholder. Some key points:
- Survival benefits are paid as a percentage of the sum assured after fixed intervals, such as every 5 years.
- The full death benefit of the sum assured is paid out if the policyholder passes away, regardless of any survival benefits already received.
- Money Back Plans offer liquidity to the policyholder and can be used for needs like children's education over the term of the policy.
This document provides an overview of annuities, including:
- Annuities are contracts with insurance companies that provide benefits in exchange for premium payments. They are not life insurance.
- There are several types of annuities such as fixed, fixed indexed, and variable annuities.
- Annuities offer benefits like safety, flexibility, earnings potential, and protection. Features include tax deferral, minimum guarantees, beneficiary designation, annuitization, control, death benefits, and withdrawal provisions.
LIC's New Money Back Plan-20 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.
This document outlines the terms and conditions of the FutureInvest Regular Savings & Whole of Life policy offered by Orient Insurance PJSC. Some key details include:
- The policy provides life insurance coverage and allows policyholders to invest in various investment funds.
- On death of the life assured before maturity, the death benefit will either be the sum assured or fund value, whichever is higher.
- On survival to maturity, the fund value will be paid out as a lump sum. Some optional extended coverage like life insurance may also be provided.
- The policy document defines various terms, covers aspects like premium payments, non-payment provisions, benefits and payout options.
Allianz Life North America – Rethinking What’s Ahead in RetirementOpen Knowledge
In this analysis of the United States’ retirement landscape, Gary C. Bhojwani, chairman of Allianz Life Insurance Company of North America and member of the Board of Management, Allianz SE, Insurance USA, traces the evolution of retirement over the past 70 years and identifies a decisive shift in the financial mindset of all Americans from accumulation of assets to a focus on lifetime income and guarantees. Emphasizing that annuities are set to play a vital role, he highlights the opportunities presented by insured retirement solutions and suggests the demand for guaranteed lifetime income will only grow in coming years.
Annuities explained is a presentation which will explain everything you need to know about the major types of annuities, what are the best annuities and how to select the most appropriate annuity in your particular situation.
Annuity is a term that is familiar to most of us and that we have been now hearing for over 200 years. Annuities are nothing but products offered by insurance companies that allow you to save on taxes and derive benefit on retirement. These accumulated funds are later repaid to you either for a fixed term, say 5 to 10 year, or for the rest part of your life.
Annuities are quite similar to Collateral deposits. CDs are offered by banks, similarly, insurance companies offer different return schemes on your annuity investments.
What is the meaning of annuity?
For a layman, an annuity is nothing but a contract between two parties, a person, also called as the insured and an organization which is nothing but an insurance company. The insurance company agrees to pay the insured an agreed upon benefit either in the form of regular interval payments or in lump sum.
Who offers an Annuity?
Annuities are presented by Insurance companies. They reach customers by the way of licensed agents. But before you chose to invest with the insurance company, you should check their insurance licenses. State and federal laws and insurance commissions govern the reserve funds, also known as State Legal Reserve Pools.
How does an Annuity Scheme work?
Annuity is a contract. The insured makes a deposit with the insurance company either in a single go or through regular small installments. Depending upon the type of annuity you choose, the money deposited with the insurance company will earn fixed or variable return.
Different Types of Annuity:
• Single premium immediate annuity: The amount is paid in lump sum and the benefits are derived from the immediate next month onwards.
• Single premium deferred annuity: Again, the amount is paid in lump sum but the withdrawals can be made only after specified time limit
• Annual premium deferred annuity: The premium paid to the insurance company is either in form of quarterly, or monthly or bi-annual or annual installments. Withdrawals are deferred to a later date.
• Variable annuity: This is more of a combination annuity scheme where you can chose either to pay a lump sum amount or in installments. You can choose the investment vehicle as well. Thus, the growth of your fund depends on vehicle chosen.
Thus, depending upon the scheme chosen by you, the amount deposited by you grows. At a time elected by you, the insurance company will start disbursing your deposits from your annuity account.
You also have a choice of withdrawing funds in lump sum after a certain time elapses.
Benefits associated with Annuities:
• Tax Deferral: The money invested in an annuity scheme stays tax free and grows tax free till the time you withdraw it. The age set for withdrawals is 59.5 years. Any funds withdrawn prior to this age bear an annual penalty charge of 10%.
• The insured gets a secured guaranteed return for the rest of life, especially post retirement
Thus, annuity offers you a medium of saving, ensuring avoiding probate for your heirs, safety of funds and much more.
Torus is a global specialty insurer with operations in 10 countries and specialized ventures including Lloyd's Syndicate 1301. They offer customized insurance products for industries like energy, construction, aviation, and healthcare. For healthcare clients, Torus believes in compensating injuries fairly while rewarding safe practices. They provide tools to customize coverage like swing plans, premium discounts, and split retentions tailored to a client's risks and claims history. The goal is providing appropriate coverage at the lowest cost to allow clients to focus on patient care.
This document provides information on term assurance policies, including:
1) Term assurance policies offer life insurance protection for a fixed term, with the sum assured payable only upon death during the term. Policyholders can choose the length of coverage and premiums are based on age, health, sum assured, and term length.
2) Types of term assurance policies include level term (fixed payout and premium), decreasing term (reducing payout and premium), increasing term (increasing payout), and convertible term (option to convert to another policy type).
3) The document also mentions family income benefit policies, which provide dependents with a regular income instead of a lump sum, and notes that as part
The document discusses various aspects of life insurance policy servicing, including the rights and duties of the insured party. It covers topics like premium payments, grace periods, non-forfeiture provisions, surrender value, loans, foreclosure, revival of lapsed policies, nomination of beneficiaries, and assignment of policies. Key points mentioned include contractual obligations to keep policies active, options for unpaid premiums, requirements for reviving lapsed policies, rules around nominating and assigning beneficiary rights.
Välkommen till en resa i den digitala världen.
Att förstå hur den digitala utvecklingen påverkar individers beteende, yrkesroller, verksamheter och branscher är en framgångsfaktor för dig som företagare och ditt företags framtida konkurrenskraft.
De digitala miljöer kan öppna upp nya möjligheter, nya marknader, nya affärer, möjlighet till kostnadsbesparingar, högre produktivitet, bättre avkastning och konkurrensfördelar.
Då gäller det att veta vad som är viktigt att prioritera.
Föreläsare: Marie Andervin från Digital Intelligence Scandinavia, som har lång erfarenhet av social medier och både utbildar och föreläser i ämnet.
The document provides information from a pharmacist to educate patients on various health conditions and diseases. It discusses obesity, asthma, smoking, psoriasis, and hypertension. For each condition, it defines what it is, symptoms, risks, treatment options, lifestyle adjustments, and advice for patients from the pharmacist. The goal is for pharmacists to properly educate patients, especially those with chronic illnesses, to better manage their conditions.
AdSAM provides quantitative and qualitative market insights by combining traditional research measures with measures of emotional response, which has been validated over 25 years of research. Emotional responses are processed differently in the brain than words and can more reliably capture reactions. Studies show emotional measures from AdSAM better predict behavioral intent and prescribing decisions for drugs compared to traditional attributes alone. AdSAM has been used in hundreds of studies globally in various therapeutic areas to understand audience, HCP, and patient emotions to help improve marketing strategies, messaging, and relationships.
Southwest Airlines moved for summary judgment on all claims brought by plaintiff Douglas Rydalch. Rydalch alleges Southwest violated FMLA and ADA by terminating his employment for using FMLA leave. Southwest asserts it fired Rydalch for improperly using FMLA leave to extend his Christmas vacation in 2007. The court found Rydalch did not offer evidence to show Southwest's reason for firing him was pretextual. Therefore, the court grants Southwest's motion for summary judgment on all of Rydalch's claims.
1001tech i pvox-call-contact-centre-solutions-overview1001tech IPvox
1001tech IPvox provides IP telephony and contact center software solutions for small and medium-sized businesses. Their flagship product, EzyTouch, is an all-in-one call center platform that offers features such auto attendant, skills-based routing, voice logging, reporting, and integration with CRM software. Their solutions aim to improve customer service and reduce costs through increased efficiency of customer management operations.
Baral v. Commissioner of Internal Revenue opinionThompsonPub
This document is a tax court case regarding medical expense deductions claimed by the estate of Lillian Baral for 2007. It summarizes that Ms. Baral suffered from dementia and required 24-hour care. Her brother paid $760 to her doctors, $5,566 to caregivers for supplies, and $49,580 to caregivers for their services. The tax court had to determine what portions of these expenses qualified as medical care deductions under Section 213 of the tax code.
In this case, Lillie Middlebrooks sued her former employer Godwin Corporation for failing to provide proper notice of her COBRA rights. The court held a bench trial and issued findings of fact and conclusions of law. The court found that while Godwin sent Middlebrooks a COBRA notice, it was deficient and missing several required disclosures. The court also determined that Middlebrooks' termination was not for gross misconduct, so she was entitled to a post-termination COBRA notice. However, Middlebrooks did not demonstrate any prejudice from the deficiencies. The court concluded Godwin failed to provide a fully compliant COBRA notice and awarded Middlebrooks $500.
The document provides a summary of the top 10 mistakes employers make regarding COBRA and how to avoid them. It discusses mistakes like assuming COBRA doesn't apply to small employers or certain health plans, not understanding qualifying events and beneficiaries, failing to provide required notices, not following reasonable procedures, providing incorrect information in notices, not maintaining proper documentation, and bad timing of coverage periods. The document emphasizes the importance of understanding COBRA requirements, establishing procedures, sending timely and accurate notices, properly documenting actions, and avoiding mistakes that could result in penalties.
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) requires that employers provide former employees and dependents who lose group health benefits with an opportunity to continue group health insurance coverage for a limited period of time. Compliance with the complex rules regarding COBRA coverage can be difficult and mistakes can be costly. Penalties for non-compliance can include IRS excise taxes and ERISA statutory fines.
This Legislative Brief provides practical information and tips for avoiding these penalties and other risks, such as lawsuits to compel coverage and adverse selection of COBRA coverage.
Compliance is defined as “a state of being in accordance with established guidelines, specifications or legislation.” There’s a perception that COBRA compliance is as easy as mailing a couple of notices. However, proper COBRA
compliance entails many required notices and tracking numerous time frames.
Compliance is defined as “a state of being in accordance with established guidelines, specifications or legislation.” There’s a perception that COBRA compliance is as easy as mailing a couple of notices. However, proper COBRA
compliance entails many required notices and tracking numerous time frames. The notice requirements and the work related to them are endless. Let’s review what one little compliance regulation requires.
10 Cobra mistakes to Avoid. Accurate Insurance Solutions Tampa, Fl.Brian Brady
Accurate Insurance Solutions tips for avoiding Cobra penalties and other risks, such as lawsuits to compel coverage and adverse selection of COBRA coverage. 813-994-4114 o
This webinar will covers:
• What is COBRA?
• When does it need to be provided?
• What are the triggering events?
• How long does it have to be provided?
• What are notice requirements?
• Payment requirements
The Consolidated Omnibus Budget Reconciliation Act (COBRA) allows individuals to continue their group health plan coverage in certain situations. Specifically, COBRA requires group health plans to offer continuation coverage to covered employees and dependents when coverage would otherwise be lost due to certain specific events...
This document provides an overview of the nuts and bolts of COBRA. It discusses what COBRA is, who it applies to, qualifying events, qualified beneficiaries, required notices, costs, length of coverage, termination of coverage, penalties for non-compliance, and common mistakes made with COBRA. It aims to explain the key aspects of administering and complying with COBRA requirements for employers.
Model COBRA Continuation Coverage General NoticeJason White, CBC
This document provides a model general notice of COBRA continuation coverage rights that plan administrators can use to inform individuals of their rights under the Consolidated Omnibus Budget Reconciliation Act (COBRA) when their group health plan coverage would otherwise end due to certain qualifying events. The notice explains what COBRA continuation coverage is, when it becomes available, how to elect it, how long it lasts, and how it works. It also notes that individuals may have other coverage options besides COBRA continuation coverage.
The document summarizes the provisions of the American Recovery and Reinvestment Act of 2009 relating to COBRA health insurance subsidies. It provides details on eligibility requirements, the 65% premium subsidy for qualified beneficiaries, additional notice requirements, and immediate compliance actions needed by employers. Key points include a subsidy for up to 9 months of COBRA coverage for involuntarily terminated individuals, additional notices that must be sent by March 19, 2009, and ensuring COBRA administration can properly process subsidies and payroll tax credits.
COBRA provides temporary continuation of health coverage when it would otherwise be lost due to certain events like job loss. It applies to employers with 20+ employees and provides qualified beneficiaries like employees, spouses, dependents up to 36 months of continued coverage at group rates. When coverage is lost due to job loss, reduction in hours, divorce or other qualifying events, beneficiaries must be notified of COBRA rights and have 60 days to elect continued coverage by paying premiums. Coverage can end earlier for non-payment of premiums or obtaining other coverage, and conversion to individual policies must be offered at the end of the continuation period.
Group health plans can require qualified beneficiaries to pay for COBRA continuation coverage, although plan sponsors can choose to provide continuation coverage at reduced or no cost.
The maximum amount charged to qualified beneficiaries cannot exceed 102 percent of the plan’s total cost of coverage. The cost amount is based on the cost of coverage for similarly situated individuals who have not incurred a qualifying event. For qualified beneficiaries receiving the 11-month disability extension, the premium for those additional months may be increased to 150 percent of the plan's total cost of coverage...
The American Recovery And Reinvestment Act Of 2009 Cobra Impactsschmitty
This document summarizes the impacts of the American Recovery and Reinvestment Act of 2009 (ARRA) on COBRA continuation health coverage. It outlines that ARRA provides eligible individuals who lost their job between September 2008 and December 2009 a premium reduction of 65% for COBRA coverage for up to 9 months. It also provides an extended election period for those who did not previously elect COBRA. Employers can reimburse themselves for the reduced premium amount through payroll tax credits. The document provides details on eligibility, coverage periods, impacts to individuals, group health plans and employers, and taxation implications of the premium reductions.
This document discusses several notices and disclosures that employers must provide to employees under the Affordable Care Act (ACA) and other regulations. It covers the requirement to provide a Summary of Benefits and Coverage to all applicants and enrollees. It also discusses requirements for grandfathered plans, notices of patient protection rights, Medicare Part D creditable coverage notices, COBRA qualified beneficiary communications including open enrollment notifications, and challenges with health flexible spending accounts during open enrollment.
The document contains questions and answers about various health benefits topics:
1. Reporting under Section 6055 is required for retiree-only HRAs but not for HRAs integrated with an employer's medical plan or Medicare supplemental coverage. Whether standalone retiree HRAs require reporting is unclear.
2. Special enrollment rights notices are still required under HIPAA portability even though certificates of creditable coverage and general/individual notices of pre-existing conditions were eliminated in 2014.
3. For determining affordability of coverage, employers can use the rate of pay safe harbor based on 130 hours per month rather than 30 hours per week, or the federal poverty level safe harbor. Using the W-2 method, employers
The document provides information about COBRA subsidy recipients and retiree health coverage. It reminds COBRA subsidy recipients that they must notify their plan in writing if they become eligible for other coverage like a new job or Medicare to avoid penalties. It also notes that plans must offer COBRA at retirement if the active and retiree plans differ, but not if they are the same. Dependents may get COBRA if losing retiree coverage due to an event like a retiree's death.
This document summarizes new provisions related to COBRA health insurance coverage included in the American Recovery and Reinvestment Act of 2009 stimulus package. It discusses that employees involuntarily terminated between September 2008 and December 2009, and their families, will only have to pay 35% of premiums for up to 9 months of continued coverage, with employers reimbursed for the remaining 65% through tax credits. It also outlines requirements for employers to provide updated notices to qualified beneficiaries about their options by April 18, 2009.
The document summarizes provisions of the American Recovery and Reinvestment Act of 2009 regarding subsidies for COBRA health insurance premiums. It provides details on eligibility requirements, the amount of subsidies, how subsidies are administered and reimbursed, notification requirements, and income limits for receiving subsidies. The key points are that the Act provides subsidies of 65% of COBRA premiums for involuntarily terminated workers for up to 9 months, subsidies are claimed as a tax credit by employers/plans, and certain income thresholds apply for subsidy eligibility.
The Self-Insurance Institute of America (SIIA) is preparing a legal challenge in response to anticipated state actions to more tightly regulate stop-loss insurance attachment points. SIIA believes such actions will restrict employer self-insurance abilities. SIIA is seeking financial pledges from members and industry stakeholders to fund the litigation strategy through trial court level, with expectations of additional fundraising for potential Supreme Court challenges. Pledges will be collected and placed in SIIA's Legal Defense Fund exclusively for litigation expenses, with positions on the litigation steering committee offered for pledges of $25,000 or more.
This document is a court order regarding a lawsuit brought by police officers against the City of Pittsburgh under the Fair Labor Standards Act for unpaid overtime wages. The court found that while the city signed an agreement in 2006 to properly pay overtime rates, it took until 2011 to fully implement the agreement and make retroactive payments. The court determined the city did not meet its burden to prove it acted in good faith or reasonably, and therefore was not exempt from paying liquidated damages for violating the FLSA.
Berry v. frank's auto body carstar [s.d. ohio]ThompsonPub
This document is a memorandum opinion and order from a federal district court case involving claims of ERISA retaliation, failure to provide COBRA notification, and disability discrimination. The court considered cross motions for summary judgment from the plaintiffs and defendants. Regarding the motions to strike filed by both parties, the court found it could resolve the summary judgment motions without considering the contested evidence, so it denied the motions to strike as moot. On the ERISA retaliation and COBRA notification claims, the court found that the defendants were entitled to summary judgment. The disability discrimination claim was dismissed without prejudice. The court therefore granted summary judgment to the defendants on two counts and dismissed the third count.
This document is a court opinion dismissing an ERISA claim brought by an employee health plan and employer against a hospital and medical college. The plan sought to recover alleged overpayments for medical treatment provided to a plan participant's child. The court found that the plan failed to establish an equitable lien against the defendants as required for relief under ERISA section 502(a)(3). The court allowed supplemental briefing on whether the plan has a viable federal common law unjust enrichment claim to establish jurisdiction.
This 6-page court document describes a case filed on August 16, 2011 regarding case number 3:11-cv-00195-FM. The document provides details across 6 sequentially numbered pages, but without more context it is difficult to determine the essential details or high-level purpose of the filing.
This 6-page court document describes a case filed on August 16, 2011 regarding case number 3:11-cv-00195-FM. The document provides details across 6 sequentially numbered pages, but without more context it is difficult to determine the essential details or high-level purpose of the filing.
1. COBRA Qualifying Event Notice Checklist
This checklist from Mandated Health Benefits – The COBRA Guide is designed to help plan
sponsors and administrators ensure that their COBRA qualifying event notices include the specific
information required to comply with DOL’s COBRA notice regulations.
Description of Item Is it Addressed?
The name of the group health plan under which COBRA coverage is available; Yes No
and the name, address and telephone number of the party responsible under the
plan for the administration of COBRA continuation coverage benefits (that is, Comments:
such as a third-party administrator or insurance company representative).
Identification of the qualifying event which is generating the notice. Yes No
Comments:
Identification, by status or name, of the qualified beneficiaries who are Yes No
recognized by the plan as being entitled to elect COBRA coverage regarding the
qualifying event, and the date on which coverage under the plan will terminate Comments:
(or has terminated) unless COBRA coverage is elected.
A statement that: Yes No
each individual who is a qualified beneficiary regarding the qualifying Comments:
event has an independent right to elect COBRA coverage;
a covered employee or a qualified beneficiary who is the spouse of the
covered employee (or was the spouse of the covered employee on the day
before the qualifying event occurred) may elect COBRA coverage on
behalf of all other qualified beneficiaries regarding the qualifying event;
and
a parent or legal guardian may elect COBRA coverage on behalf of a
minor child.
An explanation of the plan’s procedures for electing COBRA coverage, Yes No
including an explanation of the time period during which the election must be
made, and the date by which the election must be made. Comments:
An explanation of: Yes No
the consequences of failing to elect or waiving COBRA coverage, Comments:
including an explanation that a qualified beneficiary’s decision whether
to elect COBRA coverage will affect the future rights of qualified
beneficiaries to HIPAA portability benefits, guaranteed access to
individual health coverage, and special enrollment rights under HIPAA,
with a reference to where a qualified beneficiary may obtain additional
information about these rights; and
the plan’s procedures for revoking a waiver of the right to COBRA
coverage before the date by which the election must be made.
2. A description of the COBRA coverage that will be made available under the Yes No
plan, if elected, including the date on which that coverage will commence. This
can be done either by providing a description of the coverage or by reference to Comments:
the plan’s SPD.
An explanation of: Yes No
the maximum period for which COBRA coverage will be available under Comments:
the plan, if elected;
the COBRA coverage termination date; and
any events that might cause COBRA coverage to be terminated earlier
than the end of the maximum period.
A description of the circumstances (if any) under which the maximum period of Yes No
COBRA coverage may be extended due either to the occurrence of a second
qualifying event or a Social Security disability determination event, and the Comments:
length of any such extension.
If COBRA coverage has a maximum duration of less than 36 months, a Yes No
description of the plan’s requirements regarding the responsibility of qualified
beneficiaries to provide notice of a second qualifying event and notice of a Comments:
Social Security Administration disability determination, along with a description
of the plan’s procedures for providing those notices, including the times within
which the notices must be provided and the consequences of failing to provide
the notices. The notice must also explain qualified beneficiaries’ responsibilities
to provide notice that a disabled qualified beneficiary has subsequently been
determined to no longer be disabled.
A description of the amount, if any, that each qualified beneficiary will be Yes No
required to pay for COBRA coverage.
Comments:
A description of: Yes No
the due dates for payments; Comments:
the qualified beneficiaries’ right to pay on a monthly basis;
the grace periods for payment;
the address to which payments should be sent; and
the consequences of delayed payment and non-payment.
An explanation of the importance of keeping the administrator informed of the Yes No
current addresses of all participants or beneficiaries under the plan who are or
may become qualified beneficiaries. Comments:
3. A summary of the 72.5-percent health coverage tax credit created by the Trade
Act of 2002 that may be applicable to participants who could be eligible for trade Yes No
adjustment assistance or because they may be receiving payments from the
Pension Benefit Guaranty Corporation (PBGC-eligibles). [This explanation is Comments:
not required in the DOL model notices but should be considered if the plan
administrator believes employees might be affected.]
A statement that the notice does not fully describe COBRA coverage or other Yes No
rights under the plan, and that more complete information regarding such rights
is available in the plan’s SPD or from the plan administrator. Comments: