Archive for the ‘Company News’ Category

Webinar: Health Savings Accounts – What You Need to Know

Health Savings Accounts (HSAs) are unique accounts that reside in employee benefits. These accounts exist merely because of health care coverage that’s offered by an employer. Employers can contribute to them, but they’re ultimately owned by the individual and are not sponsored by the overall health plan. Because of these, strange results and quirks can occur.

This 20-minute webinar, presented by Hays Companies Research and Compliance Department, covers Health Savings Accounts: What You Need to Know and will focus on FSAs, HRAs and HSAs.

Other topics this webinar will address include:

  • Who is eligible to contribute to an HSA?
  • What is a permissible and impermissible coverage?
  • How much can be contributed and when?
  • What are permissible expenses for distribution?
  • And more…

You can watch the webinar here.

If you’re interested in accessing a PDF version of the presentation, please complete the form here to download.

Please contact your Hays Companies representative for further information. 

Hays Companies Rises in “Top 100 Insurance Brokers” Rankings

Hays Companies is pleased to announce that they were recently named as the 22nd largest insurance broker in the United States by Business Insurance Magazine. This is the 25th year of consecutive revenue growth for Hays Companies.

Hays’ 2018 ranking is reflective of the entrepreneurial spirit on which they were founded and was an increase from their 2017 standings (for which they were ranked #23).  As a privately-held organization, Hays’ organic growth has been entirely accomplished by their team of experienced professionals.

Of Hays’ explosive trajectory, CEO Jim Hays said “We have continued our growth by investing in our people and building client-focused teams. Our business model encourages creative, out-of-the-box solutions that allow us to adapt quickly to the evolving needs of our clients.”

The list, which is generated annually, ranks the 100 largest insurance brokers in the country by revenue for all U.S. based clients in the previous calendar year.  Hays Companies’ 2017 brokerage revenues of $197,600,000 were up 2.2% over the 2018 fiscal year.

To learn more about the list and to view the complete rankings, please click here.

Founded in 1994, Hays Companies specializes in risk management, insurance, and employee benefits.

Hays Companies Volunteers with Habitat for Humanity

For almost a decade, Hays Companies has built a strong partnership with Habitat for Humanity to combat homelessness and provide affordable housing for families within the communities where we work and live.

This month, Hays team members assisted with building a Habitat for Humanity home in St. Paul, Minnesota. Of the experience, Robert Rangel, Hays Companies’ Director of Claims Management and Volunteer Committee Chair said, “It was a fulfilling day for our team. It’s not every day you have the opportunity to learn how to construct a garage and build a roof with your colleagues. We were grateful to be out in the community together giving back to a wonderful organization.”

One of Hays Companies’ core values is being impactful and contributing to the communities we serve. Habitat for Humanity is a great outlet for employees to live out this value by volunteering.  “We encourage our employees to get involved with organizations in the community that they’re passionate about. Habitat for Humanity is an organization with a mission that Hays’ employees believe in,” stated Chief Executive Officer, Jim Hays.

Compliance Webinar: Wellness Plans – What You Need to Know

Healthcare costs are on the rise and with the evolving structure of wellness programs, along with the complicated wellness final regulations, it becomes a challenging task to ensure compliance. Recent legal decisions have also put the future of these final wellness regulations into question. Because of this, employers are now considering new and innovative ways to lower healthcare costs by motivating their employees to be more health-conscious.

This 45-minute webinar, presented by the Hays Benefits Research and Compliance Department, covers the most important compliance concerns for an employer sponsoring a wellness program.

Other topics this webinar will address include:

  • What is the applicable incentive limit for a given program and how is it calculated?
  • How does a wellness program appropriately incent employees, spouses and dependents?
  • Does a program need to provide a “Reasonable Alternative Standard” and what does that mean?
  • How can wellness plans be structured to ensure compliance in 2019?
  • And more…

You can watch the webinar here.

If you’re interested in accessing a PDF version of the presentation, please complete the form here to download.

Please contact your Hays Companies representative for further information.

Hays Companies Vice President Bruce Lyon Receives 2018 Excellence Award

Hays Companies of Kansas City is proud to announce that Bruce Lyon, Vice President and Director of Risk Management, was honored by the Board of Certified Safety Professionals with the 2018 CSP Award of Excellence.

A leader in high quality credentialing for safety, health and environmental practitioners, the Board of Certified Safety Professionals (BCSP) was founded in 1969. Since then, they have grown to be recognized as the leader in credentialing for practitioners in the safety, health, and environmental industries. Their highly prestigious Award of Excellence is awarded to top practitioners that embody outstanding leadership, deep industry knowledge and a strong commitment to advancing safety excellence.

Lyon has over 37 years of experience in the insurance and consulting fields and continues to be a passionate advocate for the advancement of the safety profession. He currently serves as Advisory Board Chair to the University of Central Missouri (UCM) Safety Sciences program as an active collaborator with the faculty, a frequent lecturer and mentor.

Additionally, Lyon is Vice Chair of the ISO 31000 Risk Management standards US Technical Advisory Group (US TAG), a member of the ANSI/ASSE Z590.3 Prevention through Design standard review committee, and a subject matter expert in the development of the Board of Certified Safety Professionals’ (BCSP) Safety Management Specialist (SMS) certification.

To learn more about the Board of Certified Safety Professionals and the other Excellence Award recipients, please click here.

Hays Companies Employee Benefits Presents: Upcoming Webinars in 2018

We are pleased to announce the upcoming Hays Companies Webinar schedule for the second half of 2018. Registration information for each webinar, actual dates and complete details will be made available closer to the event.  Please reach out to your Hays Companies representative with any questions.

Topics and dates are subject to change due to unforeseen circumstances. Note: additional webinars may be added due to legislative changes, rulings, guidance or other developments impacting employee benefits.

Interested in attending one of our webinars? Submit the form below to be notified when registration opens.



Andrew Williamson Joins Hays Companies of Wisconsin Benefits Practice

Hays Companies of Wisconsin is pleased to announce that Andrew Williamson has joined the Benefits Practice, where he will focus on employers with under 200 employees.  Williamson brings 15+ years of consulting and brokerage experience with similarly-sized employer groups.

“Our unique tools and industry-leading talent have led to expansive growth in our core business segment that focuses on larger employers,”  said Dan Robinson, Executive Vice President of Hays Companies.  “We are excited to share the tools and resources with middle market employers with under 200 employees.  With Andrew’s leadership, we expect to positively redefine the value that employers of this size in Wisconsin can expect from a benefits advisory partner.”

Hays Companies is one of the fastest growing, privately-held risk management, insurance and employee benefits advisors in the country. Our philosophy of delivering the highest-quality, customer-focused service has led to significant growth for 20 years. Today the company includes 700+ experienced professionals in more than 35 locations throughout the United States. Andrew’s addition to Hays’ Wisconsin office follows the eighth consecutive year Hays Companies has been recognized as one of Wisconsin’s Top 100 Workplaces.

Education:

Andrew received his Bachelor of Science Degree in Economics from the University of Wisconsin-Madison. Andrew maintains a Wisconsin Resident Intermediary License for Accident and Health plans and Life plans.

 

Contact Information:

Andrew Williamson

Middle Market Practice Leader

Phone: 414-290-3609

Email: awilliamson@hayscompanies.com 

Department of Labor’s Final Rule on Association Health Plans

On Tuesday, June 19th, the Department of Labor (DOL) released final rules for Association Health Plans (AHP).  In summary, the final rules will allow small businesses, including self-employed workers, to band together by geography or industry to obtain healthcare coverage as if they were a single large employer.  The intent is to provide greater negotiating power for coverage that is typically only available to large employers.

Companies without common ownership will be able to form an association with other companies if the companies have sufficient commonality of interest, defined as:

  • In the same trade, industry, line of business, or profession; or
  • Have a principal place of business within a region that does not exceed the boundaries of the same state (e.g., a city or county) or the same metropolitan area (even if the metropolitan area includes more than one state).

The final rule includes the criteria for forming a “bona fide group or association of employers,” including the requirement to have a “formal organizational structure with a governing body that has by-laws or other similar indications of formality.”  In other words, there will need to be formal documents establishing the group for the purpose of purchasing insurance.

Applicable dates:

  • September 1, 2018 – all associations (new or existing) may establish a fully-insured AHP under the new rule;
  • January 1, 2019 – existing associations that sponsored an AHP on or before the publication date of the final rule in the Federal Register may establish a self-funded AHP under the new rule; and
  • April 1, 2019 – all other associations (new or existing) may establish a self-funded AHP under the new rule.

Further guidance is necessary to determine the regulatory impact on self-insured Association Health Plans.

Do you have questions about how this ruling will impact your business? Contact your local Hays Representative or email us at info@hayscompanies.com.

By: Ben Graves, J.D., Director of Research and Compliance at Hays Companies.

Posted in Company News | Comments Off on Department of Labor’s Final Rule on Association Health Plans

Webinar: M&A Impacts on Benefit Compliance

Corporate transitions like mergers and acquisitions are continuing at a rapid pace. When considering how these transactions and changes will impact employee benefit compliance, time is often limited.

This 3o-minute webinar, presented by the Hays Benefits Research and Compliance Department, addresses the M&A impacts on Benefits Compliance. It covers common issues that companies need to be aware of if they’re in the merger and acquisition field.

Other topics this webinar will address:

  • Integration of similar benefit offerings
  • COBRA implications
  • FSA implications
  • Employer mandate considerations
  • And more

You can watch the webinar here. 

If you’re interested in accessing a PDF version of the presentation, please complete the form here to download.

Please contact your Hays Companies representative for more information.

 



Hays Companies of Wisconsin Named One of the Top Workplaces

The Milwaukee Journal Sentinel has named Hays Companies of Wisconsin one of Wisconsin’s Top Workplaces for the eighth year in a row. Consequently, they have been inducted into The Journal Sentinel’s 2018 Top Workplaces Hall of Fame, a prestigious position that reflects the quality of our culture and employees.

Results were based on survey responses from employees on items such as how employees felt about their job and overall satisfaction with the company.

Highlights from the survey included the following comments:

“We are given the ability to succeed in whatever our career aspirations may be.”

“It’s challenging and something new every day. I enjoy my co-workers and feel that people are working together to deliver the best results for our clients.”

The people I work with are great, caring people. We all are working towards a common goal.”

“This is a great recognition and something that all of us are very proud of. It’s imperative to the management team to have built and to continue to create a healthy work environment where people love what they do and who they work with. Most importantly, this happiness translates to an exceptionally high level of customer service resulting in very high levels of client satisfaction,” Dan Kwiecinski, Executive Vice President of Hays Companies of Wisconsin said.  

Here at Hays Companies, we have created a culture that is unmatched in our industry. Inspired by our Founders’ entrepreneurial spirit and drive, our team thrives in a collaborative work environment, and an engaging and meaningful workplace, which allows our employees to deliver the best results to our clients.

Hays Companies is one of the fastest growing Property & Casualty and Employee Benefits advisers in the country. We are dedicated to providing expert counsel to our clients that assist them in minimizing or mitigating their “total cost of risk” in a well thought out and planned manner. We collaborate with clients to find business efficient solutions that you can improve upon incrementally over time. Our 700+ team represents a dynamic, entrepreneurial assembly of the best and brightest in the industry. With over 30 offices across the country, we draw from a pool of unrivaled expertise, in legal, certified public accountants, financial services, and claims to design a team devoted to your needs alone.