Entries by Adrienne Engel

State of The Market Trends – Third Quarter

Hays Companies is proud to present our Q3 State of the Market. Our experts weighed in on trends that are affecting commercial insurance and risk management and delivered unique insight into the future of P&C insurance. Topics covered include: Property Casualty Executive Risk Cyber Liability International To read the full report, please complete the below […]

Compliance Webinar | Making Sense of HSA’s

Health Savings Accounts (HSAs) inhabit a strange place in the employee benefit world: they often exist because of health coverage offered by an employer, employers can contribute to them, but they are ultimately owned by the individual and are not group sponsored health plans. Some strange rules result. In this 35-minute presentation, the Hays Compliance […]

Disaster Recovery Planning: An Overview

With another two months remaining in Hurricane season, the risk of damage from a natural disaster remains strong. Already, Hurricane Dorian has decimated the Bahamas and caused untold financial damage along the eastern coast of Florida, Georgia and the Carolinas. For most businesses in the hurricane corridor this is a fact of life, and they are prepared when the inevitable disaster strikes, using the months leading up to hurricane season to work out emergency logistics.

Moving on from Guaranteed Cost—a Strategy for Reducing Workers Compensation Costs

Workers’ compensation is usually the most expensive insurance coverage for construction companies and contractors, with guaranteed cost programs being the most commonly used. The International Risk Management Institute (IRMI) defines guaranteed cost programs as “premiums charged on a prospective basis without adjustment for loss experience during the policy period. A rate is agreed on at the inception of the policy and is multiplied by the appropriate exposure base (e.g., sales, payroll, number of vehicles, or square footage) to yield the premium.”*

Health FSAs: Nondiscrimination Testing Under IRC §105(h)

Author: Andrew Wilson, Regulatory and Legislative Specialist, Hays Companies Overview of IRC §105(h) Nondiscrimination Testing Health Flexible Spending Accounts (HFSAs) are a type of tax-advantaged medical account that reimburses employees for eligible health care expenses and are a component of many employer-sponsored cafeteria plans. Specifically, IRC §105(h) prohibits those plans from discriminating in favor of “highly compensated […]

Updated Guidance on Drug Manufacturers’ Coupons – Enforcement Delay

Author: Cindy Niesen, Associate Director: Research & Compliance, Hays Companies Last week, the US Departments of Health and Human Services (HHS), Treasury and Labor jointly issued an FAQ stating that for 2020 they will not enforce new guidelines (which were incorporated into HHS’s Notice of Benefit and Payment Parameters for 2020) regarding drug manufacturers’ assistance […]

Cyber Security’s Impact on the Manufacturing Industry

The United States is experiencing unprecedented low unemployment, forcing many in the manufacturing industry to consider other options to remain competitive, such as greater automation and reliance on innovation. While a turn towards smart operations will help streamline processes for many, manufacturers face inherent risks when implementing digital strategies.