twentytwenty CEO listed in 30 benefit thought-leaders to know

twentytwenty Insurance Services is honored to be listed on EBN’s top 30 thought leaders. Our team is always working to tame healthcare costs while preserving value to our clients. A lot of the time, we accomplish this by thinking outside of the box by promoting self-insurance, wellness plans and technology.

When Employee Benefit News asked us to share our experience creating customized exchanges for small/medium businesses, we were thrilled at the opportunity to get the word out.

Sima Reid is an insurance broker who does not like following others in pursuit of the best products for her clients. It’s about finding the best options on the market for clients of twentytwenty Insurance Services — the Long Beach, Calif.-based brokerage that she founded in 2001 — even if she has to build the technology herself.

How listening to customer needs led one adviser to create her own exchange

(free registration required)

Recap: 2018 Wellness Event

Thanks to everyone who attended our 2018 Wellness Event!

Its a wrap! twentytwenty's 2018 Wellness was a big success. Turn-out was great with around 100 people taking advantage of all the free screenings, great info and prize drawings.

Why we do this?

Promoting Wellness is a cornerstone of twentytwenty’s mission. We believe that education is the most important tool to increase the health and happiness of your employees. We also believe that healthy and happy employees will help your bottom line. And that's not just talk - its how we do business.

Wellness in Action at twentytwenty

Promoting Wellness is a cornerstone of twentytwenty’s mission. We believe that education is the most important tool to increase the health and happiness of your employees. We also believe that healthy and happy employees will help your bottom line.

Educated employees tend to make better health choices resulting in lower consumption of health care resources. And happy employees are productive employees. Win-win.
At twentytwenty, we take a holistic approach to Wellness. Here are two recent examples of wellness initiatives that we run for our clients:

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Financial Education


As part of our holistic approach, we believe that financial wellness is an important part of overall wellness. If a person has financial challenges or is worried about how they will be able to afford to retire, it can impact not only their productivity at work but also their quality of life.
 
As part of the service we offer, we recently brought a financial education seminar to one our clients. The session opened with an overview on some current trends we are seeing in the economy. We then discussed the impacts of the current economic climate on retirement planning. Finally, we reviewed the investment options available under the company’s 401(k) program and spoke on how these could be used to develop a personalized strategy for retirement savings.

Health Metrics and Awareness


Another of our clients wanted to work with us to improve employee awareness on everyday health. In collaboration with the company, we developed an initiative to provide wearable health tracker devices to all employees. By matching the needs of the employees with available technologies, we settled on a device from STYR labs. Our recommendation was based on cost, wide platform support and availability of easy to use coaching resources. The app allows either individuals or the company to initiate health challenge tasks.

These are just a few examples showing how we bring wellness to our clients.

If you are interested in discussing the all  the benefits (and potential cost savings!) that a wellness program can bring to your company, please contact us. We love to talk Wellness!

If you want to learn more on how to leverage the cost-saving potential of a Wellness plan, check out our articles on self-insurance.

TWENTYTWENTY'S 2018 WELLNESS EVENT

You're Invited to a Wellness Adventure!

Join the neighborhood party celebrating good health and happiness! This event will include health care education and screenings, healthy eating and nutrition, resources to reduce stress and financial wellness.

This is a free event - everyone is invited!

WHEN

April 26 2018

11AM - 1PM

WHERE

10805 Holder St.
CYPRESS, CA 90630

Clear Perspective Insight: March 2018 Changes to HSA Plan Rules

IRS Bulletin impacts employers with HSA Plans

Important Update

H.R. 1, the “Tax Cuts and Jobs Act”—P.L. 115-97 was signed into law by President Trump on December 22. The law impacts the maximum an individual can set aside in their HSA bank account for 2018 if they are covering their family.    On May 4, 2017 the IRS (Revenue Procedure 2017-37) released the inflation adjusted HSA contribution limits for 2018.  At that time the maximum individual pre-tax contribution (employee and employer combined) was $3,450 with the family maximum of $6,900 (employee and employer combined).  H.R. 1/P.L. 115-97 included a provision dealing with the Consumer Price Index (CPI).  Under the new law CPI was changed to C-CPI-U. The term ‘C-CPI-U’ means the Chained Consumer Price Index for All Urban Consumers (as published by the Bureau of Labor Statistics of the Department of Labor). This change has impacted the adjustment made to HSA contributions for 2018.  On Monday, the IRS released Internal Revenue Bulletin (IRB) 2018-10.  In that bulletin, the IRS lowered the maximum family HSA contribution for 2018.

The individual maximum HSA contribution for 2018 has remained unchanged at $3,450 however the family maximum was lowered to $6,850 from $6,900.  Please be sure to adjust the per paycheck contribution for anyone electing the maximum family amount to the $6,850 for 2018.

If you have any questions, please do not hesitate to let us know. Contact us here. You can also download the pdf flyer here


twentytwenty's Clear perspective provides news you can use

We know you don’t have time to keep up with the fast-changing world of benefits. So, we offer you clear, concise summaries of news you can use, honed down to the salient points to save you time.

At twentytwenty, we do whatever it takes to bring complex insurance issues into focus for you. It’s just the facts, but if something peaks your interest, we’re at the other end of the telephone, ready to provide greater detail!

Clear Perspective Insight: October 2017 Healthcare Reform Update

President Trump Issues an Executive Order

Last Thursday President Trump signed an executive order directing federal agencies to investigate 3 specific items. While the order does not implement regulations, it established a timetable for the federal agencies to report back to the President the feasibility of enacting these provisions.

  1. Association Health Plans (AHPs) - Within 60 days of the order, the Secretary of Labor is to review the ability for small employers to form AHPs. The Secretary is to consider ways to promote AHPs on the basis of “common geography or industry”. This is intended to allow small employers to come together to self insure or purchase fully insured coverage across state lines.
  2. Short Term, Limited Duration Insurance (STLDI) - Also within 60 days of the order, the Secretaries of the Treasury, Labor, and Health and Human Services are to consider the expansion of short term health insurance to allow for longer coverage periods and ability for these plans to be renewable.
  3. Health Reimbursement Arrangements (HRAs) - Within 120 days of the order, the Secretaries of The Treasury, Labor, and Health and Human Services are to review the viability of expanding HRAs. The intent is to allow employers to contribute more to their employees’ HRA account. HRAs are similar to Health Savings Accounts (HSAs) allowing for pretax savings reimbursing employees for out of pocket expenses such as copays, deductible and coinsurance. With HRA plans unlike HSA plans, only the employer can contribute to the account and the money does not stay with the employee if they leave the company.

What’s the bottom line?

First, nothing will happen for employers with January 1, 2018 or earlier renewals.
What is important to us and our clients? Lowering health care costs, lowering health insurance premium, providing access to affordable health care; all of these issues are at the root of a sustainable health care system in the United States.

HEALTH INSURANCE PREMIUMS DON’T GET VOLUME DISCOUNTS

Bringing small companies together and being able to sell across state lines will not lower health care costs. Expanding HRA and Short Term plans will not impact underlying health care costs. The vast majority of cost associated with health insurance (whether fully insured or self insured) is from the medical claims paid. Regardless of where an insurance policy is written, the cost of care is local. It comes back to 2 basic premises—what is the cost of care and how many units are purchased.


Until we see meaningful outcomes data and price transparency, it is unlikely we will see lower costs.


twentytwenty's Clear perspective provides news you can use

We know you don’t have time to keep up with the fast-changing world of benefits. So, we offer you clear, concise summaries of news you can use, honed down to the salient points to save you time.

At twentytwenty, we do whatever it takes to bring complex insurance issues into focus for you. It’s just the facts, but if something peaks your interest, we’re at the other end of the telephone, ready to provide greater detail!

Recap: 2017 October Breakfast Briefing - Self-funded Health Insurance

Thanks everyone who attended the October 2017 ADP Breakfast Briefing! This year we covered self-insurance which, as some of you may know, is a passion of ours. The presentation explained how self insurance can save your money and let you take control of your health benefit spending. We also talked about some strategies to mitigate the risks of self-insurance. If you missed it, you can find the presentation here.

Self Insurance Seminar: Oct. 4th Breakfast Briefing

Self-funded Health Insurance- Are You Overpaying and Throwing Away Thousands of Dollars?

Interested in self-insurance? Think your company is too small? Check out the Breakfast Briefing on Oct 4.

I will be co-presenting a seminar discussing strategies for many small and medium sized companies to reap the benefits of self-insurance. This event is FREE if you have registered in advance.

Details and sign-up HERE

See the flier HERE

H.R. Insights: Wellness Programs and ADA

In May of 2016 the Americans with Disabilities Act (ADA) issued new rules that require employers who offer a wellness programs to their employees that collects employee health information to provide a notice to their employees advising them of the following:

  • What information will be collected
  • How will the information be used
  • Who will receive it
  • What will be done to keep the information confidential

If an employer gathers health information through a voluntary health risk assessment or biometric screening, they are required to provide a notice to their employees.  The purpose of this employee notice is advise the employees that the program is voluntary and that their personal health information will be kept confidential.  The notice is to be provided to the employee before they are to provide health information and with enough time to decide if they want to participate.  The EEOC rules do not provide a specific advance notification requirement.  The rules also do not mandate how the employer must distribute the notice however the subject line must be clear.  The EEOC Q & A on this ruling provided an example of “Notice Concerning Employee Wellness Program”.  The notice can be provided through e-mail or by hard copy.   

The Equal Employment Opportunity Commission (EEOC) released a sample notice for employers.  The employee notice is to be provided with the first day of the plan year that begins on or after January 1, 2017.  https://www.eeoc.gov/laws/regulations/ada-wellness-notice.cfm

As more and more employers introduce and expand their wellness programs, it is important to keep in mind the notice requirement to determine if their employees should be provided with the notice.

If you have any question, please contact us at 562-496-3760