Filed under: Uncategorized | Tags: ACA, Broker Motivation, National Healthcare
I’m not sure about you, but for open enrollment this year I averaged between 65 to 70 hours per week. It was a nice reduction from last year’s 80-hour weeks!
But one thing I’m struggling with right now is that after all the chaos and hustle and bustle of December, January has got me off to a little bit of a deflated start.
This “Blue January,” as I’m calling it, doesn’t seem to be affecting just me. I’ve talked to several other brokers who are feeling it, too. We absolutely killed ourselves over the past couple of months, and it seems as though the sense of urgency and the sheer panic in the voices of clients calling to get coverage have fallen away. Click Here for More!
Filed under: Uncategorized | Tags: Combs & Company, Susan L Combs, WIFS, Women in Insurance & Financial Services
ALBANY, NY (11/06/2014)(readMedia)– At the 2014 Annual Conference held in Lake Buena Vista, Florida, Women in Insurance & Financial Services elected its 2014-2015 Slate of Officers and Directors.
Named to the board were:
• President – Susan Combs (Combs & Company) of New York, NY
• President-Elect – Susan Glass (New York Life) of Atlanta, GA
• Secretary – Evelyn Gellar (Empire Wealth Strategies, an agency of Penn Mutual) of West Islip, NY
• Treasurer – Lisa Lettenmaier (Health Source NW) of Tigarrd, OR
• Immediate Past President – Angelia Shay (New York Life, Path Strategies) of Ashland, VA
Directors
• Stacia DeWitt (Thrivent Financial) of Little Rock, AR
• Louise Frances (Independent) of Latham, NY
• Monica Jones (AAA Life Insurance) of Chula Vista, CA
• Lisa Pilgrim (Barley, McNamara & Wild, CPA’s) of Jacksonville, FL
• Angie Ribuffo (First Command) of Anchorage, AK
• Tashawana Rodwell (SB Media) of Parker, CO
• Nancy Wolfe-Smith (State Farm) of Plantation, FL
• Julie Yunker (MetLife) of Elba, NY
About WIFS
For over 75 years, Women in Insurance & Financial Services (WIFS) has served as the preeminent professional organization for women in the industry. Over 1,000 members and 24 local chapters are active nationally. WIFS is dedicated to attracting accomplished women to the financial services sector, developing their talents and advancing them toward success. Benefits include educational webinars, mentorship programming, coaching services, e-newsletters, peer connection and more.
For more information about WIFS, visit http://www.wifsnational.org or contact Deborah Duffy, Executive Director at 866.264.9437
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Filed under: Brava Awards, Exciting News, Motivational, SmartCEO, Susan L Combs
New York SmartCEO Announces the 2014 Brava! Awards Winners
40 powerhouse female business leaders to be recognized in
SmartCEO’s Brava! Awards program
New York, NY (June 10, 2014) — New York SmartCEO and Title Sponsor WeiserMazars LLP are pleased to announce the 2014 Brava! Award winners. The Brava! Awards celebrate the distinguished achievements of 40 of Greater New York’s top women business leaders. This year’s class collectively generates more than $1.2 billion in annual revenue and employ over 49,000 individuals. This year’s winners will be profiled in the September/October issue of SmartCEO magazine and celebrated at an awards ceremony on September 23, 2014 at Capitale.
Please see below for a complete list of winners and for program details. To share in the excitement leading up to the event, follow us @SmartCEO #BravaAwards.
“Brava winners possess the utmost qualities in a leader — vision, passion, compassion, dedication, perseverance. Every one of this year’s winners exhibits these qualities in running their business, their families and their philanthropic activities. They give 110 percent of themselves,” says Rick Crane, regional president of SmartCEO Media. “We are honored and humbled to recognize a group of women who are truly making a difference in the world.”
The winners will be celebrated at the New York Brava! Awards ceremony on September 23, 2014 at Capitale. An expected sell-out event, over 300 local C-level executives and guests will attend to celebrate their achievements. Past Brava! winners will also be in attendance to welcome the new class of winners and grow the community. The event will kick off with a cocktail reception followed by the awards ceremony and a final toast to the women leaders of Greater New York.
About SmartCEO
SmartCEO’s mission is to educate and inspire the business community through its award-winning magazine, connections at C-level events and access to valuable online resources. SmartCEO’s integrated media platforms reach decision makers in the Baltimore, New York, Philadelphia and Washington, DC, metropolitan areas.
About the Brava! Awards
The Brava! Awards program celebrates female CEOs who combine their irrepressible entrepreneurial spirit with a passion for giving back to the community. Brava! Award winners are exemplary leaders of both their companies and their communities. They encourage local philanthropy, mentor up-and-coming leaders and set their companies on the path to tremendous growth. Each year, an independent committee of local business leaders selects winners based on the quality of applications submitted. SmartCEO shares their inspiring stories in the September/October issue of SmartCEO magazine and celebrates their success at an awards reception in September.
Complete Program Information:
2014 Brava! Awards
Date: Tuesday, September 23, 2014
Time: 6 p.m. – 9 p.m.
Location: Capitale
130 Bowery, New York, NY 10013
Attire: Business Cocktail
2014 New York Brava! Winners:
Wen Zhou, 3.1 Phillip Lim
Ann Gottlieb, Ann Gottlieb Associates
Dominique Debroux, Big Belli, LLC
Claudia Baricevic, Capitale
Susan L. Combs, PPACA, Combs & Co.
Elisabete Miranda, CQ fluency
Samantha DiGennaro, DiGennaro Communications
Cheryl Ann Lawrence McDaniel, Direct Success Inc.
Jennifer N. Nevins, DW Smith Associates, LLC
Susan Lindner, Emerging Media
Erika Weinstein, eTeam Executive Search LLC
Amanda Judge, Faire Collection
Hilda Polanco, Fiscal Management Associates
Stacy Francis, Francis Financial, Inc.
Maureen Henegan, Henegan Construction Co., Inc.
Marilyn Kane, Iridium Capital LLC
Julie B. Kampf, JBK Associates
Lynne S. Katzmann, Juniper Communities
Karen Gurl-Martell, KGM Consulting, Inc.
Gwen Whiting and Lindsey J. Boyd, The Laundress New York
Jil Larsen, Magic Mix Juicery
Robyn Streisand, The Mixx
Dr. Robin Smith, Neostem
Cheryl Biron, One Horn Transportation
Denise Mari, Organic Avenue and Mari Lifestyle
Joanna Phillips, Phillips Brokerage
Jill Scalisi, Scalisi Skincare
Jennifer Blumin, Skylight Group
Lori Leitgeb, Stack Builders
Mary Nittolo, The STUDIO
Sarah Endline, Sweet Riot
Leslie A. Firtell, Tower Legal Solutions
Liz Elting, TransPerfect
Nadine Cino, Tyga Box
Susan White Morrissey, White and Warren
Nonprofit Winners
Saranne Rothberg, ComedyCures Foundation
Gail A. Magaliff, FEGS Health & Human Services
Ruth Rathblott, Harlem Educational Activities Fund (HEAF)
Carol Robles-Román, Legal Momentum
Marsha Firestone, Ph.D., Women Presidents’ Organization
To find out more about the 2015 Brava! Awards nomination process, email us at NYprograms@smartceo.com. For information about sponsorship opportunities, email us at NewYork@smartceo.com.
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Filed under: Best Rising Star, Exciting News, Health Insurance, Motivational, National Underwriter Industry Elite Awards, Susan L Combs | Tags: Best Rising Star, National Underwriter Industry Elite Awards, Susan L Combs
This year’s nominations for the National Underwriter Industry Elite Awards were stronger than ever, a who’s who of the best and brightest in the realms of market innovation, industry awareness, community outreach and young talent. Our winners and honorable mentions this year stand out for their leadership, drive and brilliance that only the Industry Elites can offer. It was an especially difficult selection process as each and every entry stood with great merit. But alas, only one can be chosen. With that, we present to you the 2014 National Underwriter Industry Elite Awards.
To read the full write up on the award, click here!
Filed under: Affordable Care Act, Health Insurance, HR, Obamacare, PPACA, Reform | Tags: ACA Auditing Services, Insurance Consulting
Since the start of 2014 we’ve been approached by CPAs, attorneys, and other trusted advisors to assist them with Affordable Care Act (ACA) audits, to determine if their clients will be subject to the “Pay or Play” provision come 2015, and then in 2016 if they have more than 50 Full-Time Equivalent (FTE) employees. I wanted to take this opportunity to introduce our ACA auditing services to you.
Currently I’m one of seven brokers in the New York Metro area with a Patient Protection & Affordable Care Act (PPACA) certification through the National Association of Health Underwriters (NAHU). The certification is key, as I’m trained on all the variables within the ACA law and how it impacts companies of various sizes; plus the continuing education keeps me fully informed as Washington adjusts different provisions of the law.
For 2015, companies that have more than 100 FTE employees will be required to offer health coverage to all employees or they will be subject to a fine. That coverage must include the 10 Essential Benefits, or the company will be subject to a different fine. Combs & Company will perform the ACA audit and produce a report that highlights all provisions with which a company must comply (and the consequences if they don’t). We’ll also devise a look-back measurement the company should use to minimize any potential penalties. We’ll also review any Common Ownership issues, as these are often overlooked areas that can impact companies.
This is not a pitch to replace a company’s current broker. We’re offering this service to support a company’s current setup and because we know the level of expertise we bring to the table is not yet common in the industry. (Nor do most brokers want to assume the liability.) We will work with your client’s current broker to gather as much information as possible and then incorporate them into the audit process.
Our service is offered at a rate of $250/hour. The length of each audit depends on the complexity of your client’s business and health plans. We also have an in-house ERISA Attorney who can provide additional services for a flat fee, should any compliance issues come to light during the ACA audit.
If you’re interested in finding out more or having your client schedule a planning meeting with us, feel free to reach out!
Filed under: Affordable Care Act, Health Insurance, Important Notice, National Healthcare, Obamacare, PPACA, Reform
You’d be amazed at how many phone calls and emails we have been getting about signing up for the exchange after the deadline. Unfortunately….people that have waited are not special. Everyone had an Open Enrollment Period began October 1st and officially ended in the state of NY as of March 31st, that was 6 months….no one can say they didn’t have enough time but still so many people chose to bury their head in the sand. So if you are one of these people that didn’t sign up what does this actually mean to you:
- If you had started an enrollment on the New York State of Health Exchange Marketplace (https://nystateofhealth.ny.gov/) you have until April 15th to get your act together and get your application completed.
- If you haven’t started an application yet and you are CURRENTLY UNINSURED, then you are out of luck with Exchange and other Private options until the next Open Enrollment which is set to begin on 11/15/14 for an enrollment of January 1st, 2015. Sorry, no one’s special here.
- If you are CURRENTLY INSURED you will be able to take coverage with the Exchange or other private insurance for effective dates after 4/1 as long as you can prove that you have had a Qualifying Life Event. These are listed below:
- Individual or dependent loses minimum essential coverage due to:
- job loss
- divorce
- death of a spouse
- becoming ineligible for Medicaid or Child Health Plus
- expiration of COBRA
- health plan is decertified
- Marriage, birth, adoption, or placement for adoption
- Gaining status as a citizen, national, or lawfully present individual
- Consumer is newly eligible or ineligible for tax credits and/or cost sharing reductions
- Permanent move to an area that has different health plan options
- Marketplace staff or contractor enrollment error
- Qualified Health Plan violated a provision of its contract
- American Indians can enroll or change plans one time per month throughout the year
- Individual or dependent loses minimum essential coverage due to:
Not considered a Qualifying Life Event:
- Voluntarily dropping other health coverage
- Being terminated for not paying your premiums
- Losing coverage that is not minimum essential coverage, in accordance with HHS guidelines
Moral of the story: Be more proactive next year!!!
Filed under: Affordable Care Act, Exciting News, Health Insurance, HR, Important Notice, National Healthcare, Obamacare, PPACA, Reform
A question that comes up time and time again with the Affordable Care Act is: “How does the Individual Responsibility (aka Mandate) Penalty work?”
To avoid the penalty you must enroll in a marketplace plan OR have private coverage no later than March 31st, 2014. If you do not, below are a breakdown of the penalties you will face.
- 2014: Greater of $95 per adult and $47.50 per child under age 18 or 1% of household income
- 2015: Greater of $325 per adult and $162.50 per child under age 18 or 2%
- 2016: Greater of $695 per adult and $347.50 per child under age 18 or 2.5% of taxable gross income capped at the average bronze-level insurance premium (60% actuarial) rate for the person’s family.
**The total family penalty is capped at 300% of any annual flat dollar amount for those 18 and over.
**If the penalty applies for less than a full calendar year, the penalty will be 1/12 of the annual amount per month without coverage.
Example:
Let’s look at the O’Brien family of 4 that has 2 children under the age of 18 and the family household income is $100,000 per year.
Just to make the example easier, we are giving everyone names….Meet the O’Brien Family: Mom – Samantha; Father – Mark; Son – Luke; Daughter – Sarah
Upfront we know that the Max Penalty the O’Brien’s’ can be given is: $570 (this is figured by a $95 penalty each for Samantha & Mark since they are the only ones over 18 x 300%), now let’s look at the breakdown if they would hit the Max Penalty….
Remember, it is the GREATER of the below up to the Max Penalty:
Flat dollar amount penalty calculation : $95 (Samantha) + $95 (Mark) + $47.50 (Luke) + $47.50 (Sarah) = $285
Percentage amount penalty calculation: 1% of $100,000 = $1000
Results: Since the Max Penalty the O’Brien family can be given in this example is $570, this will be the penalty they will be responsible for, since the 1% of household income exceeds this amount. This amount will be tacked on when Samantha and Mark’s taxes are calculated at the end of the year, so if they were planning on a nice refund this year, that will be deducted from that refund. Keep in mind that if the O’Brien’s do not pay taxes, as of now, there is no mechanism to collect this penalty.
Filed under: Administrative Fix, Affordable Care Act, Health Insurance, Important Notice, Obamacare, PPACA, Reform
As many have heard, Obama has offered a “fix” to many of the people that have gotten notifications of their insurance being canceled. I believe that this report, gives a good picture of it and I want to point out a few things before people start popping the cork and celebrating:
- Obama said that carriers “could” offer the plan for 1 more year…
- Obama pushed the ultimate decision over to the States and the Carriers…so far California, Idaho, Virginia and Kentucky have said no to this fix.
- If the carrier choose to offer to extend, then they are going to have to send the customers a comparison that shows the differences between their plan and all the Exchange Plans that they are offering, what this translates to is more work when we are already 45 days out, and the carriers do not have the extra time on their hands right now.
- The carriers do not have an actuarial value of any of these plans since they are not in their plan offerings and I believe that this would result in even higher prices as they would have to put in more man hours to reincorporate these plans.
If you have gotten a cancelation notice, I encourage you to call your carrier and see if they are going to pony up and continue to offer your plan, but don’t be shocked if you end up being one of many that they tell no.
Filed under: Uncategorized | Tags: NAHU, Paychex, University of Missouri, WIFS, Women in Insurance
Very excited to bring this news to you! I was recently selected as one of the 20 Women in Insurance You Need to Know by LifeProHealth. Check out the list of all of these amazing women and see why you “Need to know” them!
Filed under: Employer Requirement, Health Insurance, Important Notice, National Healthcare, Reform
Pretty much all employers will need to provide their employees with written notice that includes information regarding the Exchange (now called the Health Insurance Marketplace). The deadline to provide the notice is fast approaching; the notice must be provided to each employee not later than October 1, 2013. Regardless of the size of your company and even if you currently do not offer coverage to your employees you *SHOULD* send this information out. The reason we say should instead of MUST is because as of last week, this has been another penalty that has been delayed and they haven’t told us when it will come back. Originally it was speculated a $100 fine for every day you have not complied with the request. We still encourage everyone to comply now as then when / if the penalty goes into effect you are all in compliance.
Click below to view the English version of the notices that you can provide to your employees:
English notice if you DO offer coverage
English notice if you DO NOT offer coverage
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