Blog - Beckham Insurance Group

Understanding a Health Reimbursement Arrangement

September 21, 2022/in Blog /by Beckham Insurance Group

Health reimbursement arrangements can be very beneficial to employers and employees alike. They provide tax-free money to employees that they can use to offset the often expensive costs associated with healthcare, and they provide employers with tax deductions that can help them save money on their insurance options.

There are several different health reimbursement arrangement policy types available to businesses today, but before we dive into those, let’s take a minute to learn a bit more about what this kind of arrangement is and what the tax benefits look like.

An empty desk inside of an office: your guide to leave of absence and employer best practices

12 Types of Leave of Absence & Employer Best Practices

September 12, 2022/in Blog /by Beckham Insurance Group

Time off is one of the best benefits employers can offer their staff. And whether the leave is paid or unpaid it can go a long way toward making your employees’ lives easier. Leave is divided into two main categories–mandatory and voluntary leave–and each of these covers a wide range of opportunities and circumstances where employees may need to take time off.

Person putting money into a piggy bank: PCORI fees and what you need to know

PCORI Fees & What You Need to Know

August 18, 2022/in Blog /by Beckham Insurance Group

The Patient-Centered Outcomes Research Trust Fund (PCORTF) fee is a cost charged to those who issue specific health insurance policies and to those who are plan sponsors of qualifying self-insured healthcare plans. It is the main fee that helps to fund the Patient-Centered Outcomes Research Institute (PCORI). Read more

What Can I Buy with my HSA?

August 11, 2022/in Blog /by Beckham Insurance Group

An HSA, or Health Savings Account, is a specific type of personal savings accounts individuals typically have access to through their workplace’s insurance plans. It’s a savings type that allows you to set tax-free money aside to use as you need it to cover medical and health-related expenses like deductibles, copayments, coinsurance, and much more.

Visual of a notebook with the words "health insurance" spelled out.

Is Supplemental Insurance Worth It?

July 28, 2022/in Blog /by Beckham Insurance Group

Supplemental insurance policy types are very attractive to employees for many different reasons, but are the added expenses and benefits worth it for your company? For some businesses, the answer is no, and for others, it’s a resounding yes.

Woman at desk using hand sanitizer: how to create a healthy workplace environment

5 Tips on Creating a Healthy Workplace Environment

July 20, 2022/in Blog /by Beckham Insurance Group

Creating a healthy workplace environment is essential to maintaining positivity and productivity among your employees. There are many different ways you can foster a healthier work environment including investing in standing desks, recognizing your employees’ accomplishments and rewarding them accordingly, providing a clean and comfortable workspace, fostering good communication, and encouraging the all-important work-life balance. Read more

Employer Considerations for Coverage of Abortion Benefits

July 13, 2022/in Blog /by Beckham Insurance Group

With the recent overturning of Roe v. Wade, there has been much confusion about employer considerations for coverage of abortion benefits. States now must make their own decisions about the legality of abortions, and until a more definitive idea of where abortion will be legal, where it will be limited, and where it will be totally restricted, it may be difficult to have a clear understanding about how those related decisions affect employer considerations concerning abortion benefits.

Are Disability Insurance Premiums Tax Deductible?

July 5, 2022/in Blog /by Beckham Insurance Group

Individuals can spend a lot of money on insurance policies and premiums throughout their lives, so it only makes sense that you would try to recover some of that money in tax deductions where possible. At Beckham Insurance Group, one of the most commonly asked questions we hear is, “Are disability insurance premiums tax deductible?”

Mother and daughter sitting in the park together

SECURE Act 2.0: Automatic Enrollment in Retirement Plans

June 23, 2022/in Uncategorized /by Beckham Insurance Group

In March 2022 in a vote of 441 to 5, the House overwhelmingly approved SECURE Act 2.0, a new-and-improved version of the original SECURE bill passed into law in December of 2019.

Woman doing research on her laptop for ACA Pay or Play penalties.

ACA: Pay or Play Employer Shared Responsibility Penalties

June 23, 2022/in Uncategorized /by Beckham Insurance Group

According to the Affordable Care Act (ACA), any applicable large employer is required to offer affordable, minimum value health care coverage options to all of their full-time employees and their dependents. In the case that these large employers fail to offer appropriate healthcare options to their qualifying staff, they face penalties under the employer shared responsibility or “pay or play” rules.