PRESS RELEASE: Forest Capital Management Begins Operations

FOREST CAPITAL MANAGEMENT, A NEWLY FORMED REGISTERED INVESTMENT ADVISOR, OPENS ITS DOORS

New SEC Registered Investment Advisor (RIA) to provide unique approach to retirement plans, participants, and individual wealth management clients.

Chicago, IL ‐‐ Forest Capital Management, LLC, (FCM) a newly formed SEC registered investment advisor (RIA), is pleased to announce the launch of its operations. The new firm will advise on retirement plan assets such as 401(k)’s, 403(b)’s, and pensions, as well as provide wealth management solutions for families and individuals.

Click here to review the full press release.

Reinsurance Contribution FAQ

Reinsurance Contribution FAQ Describes Process for Submitting Payment

On May 22, 2014, CMS released an FAQ providing details about the submission process for the collection of reinsurance contributions. The FAQ states that HHS will implement a streamlined process for the collection of reinsurance contributions.

As a reminder, contributing entities responsible for making reinsurance contributions include insurers, employers that sponsor self-insured plans and third-party administrators that pay contributions on behalf of self-insured plans. Self-insured plans that self-administer claims processing or adjudication are exempt from the reinsurance rate for 2015 and 2016. Such entities are required to provide basic company and contact information via a form available at www.pay.gov no later than Nov. 15.

FAQs – Employer Mandate, Seasonal Coverage and More

New FAQs Clarify Employer Mandate, Seasonal Worker Coverage and Reimbursing Employees for Individual Policy Premiums

On May 13, 2014, the IRS posted new frequently asked questions (FAQs) addressing various areas affecting employer-sponsored health plans, including the employer mandate, seasonal worker coverage, minimum value and small business tax credits.

CMS Issues FAQs on Small Group Health Plan Market Reform

CMS Issues FAQs on Small Group Health Plan Market Reform Implementation

On May 16, 2014, CMS issued FAQs on market reform implementation in the individual and small group health plan market. The FAQs include guidance on:

  • Essential health benefits (EHB)
  • Actuarial value (AV)
  • Guaranteed availability
  • Minimum essential coverage (MEC)
  • Transitional policy extensions for non-PPACA-compliant health plans

Although the FAQ guidance applies to insurers, it is also relevant for employers with small group plans.

IRS issues Individual Mandate Fact Sheet

June 3, 2014

IRS Issues Individual Mandate Fact Sheet

On May 27, 2014, the IRS posted to its website Publication 5156, entitled “Facts About the Individual Shared Responsibility Provision.” The individual shared responsibility provision, also known as the individual mandate, went into effect Jan. 1, 2014. The fact sheet explains that, unless they qualify for an exemption, U.S. residents must have qualifying health coverage, called “minimum essential coverage,” in 2014. Those individuals who do not comply are subject to a shared responsibility payment when filing their federal income tax return. The fact sheet provides examples of minimum essential coverage and exemptions.

Reminders – 5500 Filing + PCOR Deadlines

June 3, 2014

REMINDERS – 5500 Filing + PCOR Deadlines

 

Form 5500 Filing Deadline for Calendar-year Plans Is July 31

Plan sponsors are required to file Form 5500-series returns on the last day of the seventh month following the end of their plan years. For calendar-year plans, sponsors must file by July 31, 2014 (reporting on the 2013 plan year). Plans may request a 2.5-month extension to file by submitting Form 5558, Application for Extension of Time to File Certain Employee Plan Returns, by that plan’s original due date. Ask your advisor if you need assistance with filings.

HHS Final Exchange Rule Released

Final Exchange Rule Released

On May 16, 2014, HHS issued the final rule on exchange and insurance market standards, effective for 2015 and beyond. The rule will be published in the Federal Register on May 27, 2014. The final rule addresses a wide number of provisions, including: the discontinuation of certain products, clarifications on the SHOP exchanges, guidance for both navigator and non-navigator assistance personnel, quality reporting, nondiscrimination standards (for health care providers), minimum certification standards and responsibilities of issuers and premium stabilization and enforcement remedies, among other provisions.

Get Back on Track – February Wellness Topic

Getting rid of the toxic things in your life can help you feel better. Healthy lifestyle choices may also help you live longer and prevent chronic diseases like heart disease, diabetes and some cancers. Please click here to read more about getting back on track.

FFG February 2014 Wellness Newsletter - Get Back on Track

Nick Gialamas interviewed on CEO IntroNet

Founder and CEO, Nicholas Gialamas, was recently interviewed by CEO IntroNet. He speaks about benefit trends and how Forest Financial Group stands apart from the competition. Please click here to watch the clip.

Reduce Your Diabetes Risk

Forest Financial Group presents this month's newsletter on reducing your diabetes risk. Click here to read the entire article.

November Wellness Newsletter