Business Services


Healthcare Reform Act (for Employers)

Which health care proposals did Congress pass?

The new health care reform law is a combination of two bills: The Patient Protection and Affordable Care Act (H.R. 3590), which was signed into law on March 23, 2010; and The Health Care and Education Reconciliation Act of 2010 … Continue reading

Does health care reform allow people to keep their current health coverage?

Yes. Nothing in the new law requires individuals to terminate coverage that they had on the date the law was passed. However, due to new coverage requirements, the coverage provided under an individual’s plan may change in the future.

Am I required by law to offer health coverage to my employees?

The health care reform law does not technically require companies to offer health coverage to their employees. However, beginning in 2014, large companies that do not offer a minimum level of coverage will be subject to penalties if any of … Continue reading

What are the penalty amounts for large employers that don’t offer coverage?

Large employers that do not offer coverage will be subject to an annual penalty of $2,000 per full-time employee, excluding the first 30 employees, if any of their full-time employees receive subsidized coverage through an exchange. The Healthcare Reform Act … Continue reading

What are the penalty amounts for large employers that offer coverage and have employees who receive subsidized coverage through an exchange?

Because of Health Reform, these employers are subject to a penalty of $3,000 for each full-time employee that receives subsidized coverage through an exchange. The maximum penalty is the amount equal to $2,000 times the number of full-time employees, excluding … Continue reading

What is a grandfathered plan under Health Care Reform?

A grandfathered plan under Health Care Reform is a group health plan or health insurance coverage in which an individual was enrolled on the date of enactment of the health care reform legislation (March 23, 2010). Some of the health … Continue reading

How does health care reform affect grandfathered plans?

Grandfathered plans are exempt from certain insurance market reforms and coverage mandates included in the health care reform legislation and have delayed compliance dates for other provisions. The excepted provisions are found in Subtitles A and C of the Patient … Continue reading

Can a grandfathered plan be amended without losing the grandfathered status?

Plan sponsors can make certain changes to grandfathered plans and maintain their grandfathered status. However, plans will lose their grandfathered status if they make significant changes that reduce benefits or increase costs to consumers. Specifically, making the following changes would … Continue reading

How does the grandfather rule apply to collectively bargained plans?

The health care reform legislation states that health insurance coverage maintained pursuant to one or more collective bargaining agreements that were ratified before March 23, 2010, is not subject to the insurance market reforms and coverage mandates found in Subtitles … Continue reading

What is the small business tax credit and how do I know if I am eligible?

Beginning with the 2010 tax year, tax credits are available to qualifying small businesses that offer health insurance to their employees. Your business qualifies for the credit if you cover at least 50 percent of the cost of health care … Continue reading

What if my small business doesn’t offer insurance today, but I choose to start offering insurance this year? Will I be eligible for these tax credits?

Yes. The tax credit is designed to both support those small businesses that provide coverage today as well as those that newly offer such coverage.

Personal Auto Insurance

What is personal auto insurance?

Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in … Continue reading

What is covered under a basic auto policy?

Bodily Injury Liability The bodily injury liability covers the injuries caused to someone else. You and family members listed on the policy are covered when they drive another person’ car with presumable permission. This coverage is very important to have … Continue reading

Risk Management

What is risk analysis?

The SBI Approach is a comprehensive risk analysis of the risk factors identified in you operations.  By identifying these risk factors the organization develops thoughtful strategies that can address the risks in variety of areas.  The SBI risk analysis helps … Continue reading

Why should our company consider a risk analysis?

Due to the business environment with regulatory reform, health care reform,  and increase risk factors associated with your company operations, the need for your company to develop a strategic comprehensive risk management plan reduces the surprises allows for risk to … Continue reading

What benefits can our company realize through Risk Analysis?

Companies, who identify, understand and plan for addressing their risk factors, this can translate into less volatility in experiencing legal ramification from compliance issues, insurance coverage issues, contract obligations and business disruptions.  Often, the company’s ability to respond is not … Continue reading

What areas of operations will your Risk Analysis concentrate on?

The depth of our talent and knowledge from our versatile client base enables us to develop a host of specialized risk analysis of the following areas: o Property Risk o Premises Liability Risk o Product Liability Risk o Commercial Auto … Continue reading

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Employee Benefits