News

FBMC Wins 2017 APEX Award for Publication Excellence

Tallahassee, FL – FBMC Benefits Management, Inc. (FBMC) is excited to announce it has been named a winner of the 2017 APEX Award in the Campaigns, Programs & Plans Employee & Benefits Communications Category for the 29th Annual Awards for Publication Excellence. The APEX Awards is an annual national competition that recognizes excellence in publication work by professional communicators.

The FBMC Communications and Marketing team partnered with Seminole County Public Schools to create an Interactive Benefits Reference Guide and other open enrollment materials. The purpose of creating the materials was to provide a fresh, creative approach to benefits education for Seminole County Public School employees.

APEX Awards are based on excellence in graphic design, editorial content and the ability to achieve overall communications excellence. APEX Grand Awards honor the outstanding works in each main category, while APEX Awards of Excellence recognize exceptional entries in each of the individual categories.
With close to 1,400 entries, competition was exceptionally intense.

100 Grand Awards were presented to honor outstanding work in 11 major categories, with 543 Awards of Excellence recognizing exceptional entries in 100 subcategories.

FBMC Benefits Management employees among Most Influential Women in Benefit Advising

Tallahassee, Fla. –FBMC Benefits Management, Inc. (FBMC) is pleased to announce that two employees have been included in Employee Benefit Adviser’s 2017 Most Influential Women in Benefit Advising.

Michelle Robleto, Chief Client Officer, and Kiera Hanselman, National Vice President of Sales, join 28 other benefit advising professionals on EBA’s list. Winners were credited with finding substantial savings for employer clients and strengthening their organization’s bottom line, according to EBA.

David Faulkenberry, FBMC President, stated:

“It is their commitment to our clients, creativity, and passion, which have made both Michelle Robleto and Kiera Hanselman leaders and innovators at FBMC. They put our clients first, and I am grateful that Employee Benefit Adviser has given them the national recognition they deserve.”

With FBMC since 2013, Robleto is responsible for managing all client-facing functions of FBMC including strategic direction and oversight of Account Management and the Customer Support Center. She has more than 25 years of public and private sector experience, specializing in insurance operations, solvency, product development, and public policy.

From her EBA nomination:

“Robleto has helped shape a client-focused culture by defining exceptional customer service and developing tangible metrics. In 2016 she established a dashboard chart to capture key enrollment information that could be shared with all employees on a weekly basis throughout the season.”

With FBMC since 2016, Hanselman is responsible for all aspects of sales growth for both new and existing business partners, as well as client satisfaction. She came to FBMC with a strong background in emerging digital technologies, marketing, and advertising sales.

From her EBA nomination:

“Hanselman has made a tremendous impact since joining in May 2016, when sales opportunities ballooned and then exceeded 1,000 percent above last year’s total in the first half of 2017. She has also helped lead and organize a statewide county employee benefits benchmark analysis study.”

EBA is the information resource for employee benefit advisers, brokers, agents, and consultants, providing the current awareness and perspective advisers need to optimally serve their clients, anticipate changes in the marketplace, and run their businesses. EBA serves more than 146,000 brokers, advisers, agents, financial planners, investment advisers and consultants across all platforms.

FBMC Benefits Management Announces Two New Board Members

Tallahassee, Fla. – Today, June 7, 2017, FBMC Benefits Management Inc. (FBMC) announced the appointment of two new members to the Board of Directors at its stockholders’ meeting. Former City Manager of Tallahassee Anita Favors-Thompson and former IBM executive Steven L. Evans have both accepted appointments to the FBMC Board.

Mike Sheridan, Chairman of the FBMC Board of Directors, stated:

“We are honored to have Ms. Favors-Thompson and Mr. Evans elected to our Board. Their years of experience, expertise, and stature in our community will serve us well as we continue to grow our company across the nation.”

Ms. Favors-Thompson and Mr. Evans will join the FBMC Board of Directors that also includes Jerome Osteryoung, Ph.D., founding Executive Director of the Jim Moran Institute for Global Entrepreneurship, Agnes McMurray the former President of PESCO, and Chairman Michael Sheridan the founder and former president of FBMC. Ms. Thompson and Mr. Evans will replace John R. Marks III, former Mayor of Tallahassee, and Larry Dennis, Ph.D., Dean of Florida State University College of Communication and Information. Although stepping down from the Board, both John Marks and Larry Dennis will continue to provide input into the continued growth of FBMC in other informal capacities.

Anita Favors-Thompson served as the City Manager of Tallahassee Florida for 18 years and is now retired. Currently, she has leadership positions with the American Cancer Society, Making Strides Against Breast Cancer Campaign, Florida A&M University Strategic Planning Committee, and the Tallahassee Chapter of The Links, Inc. She is a founding member of the Oasis Center for Women and Girls, a member of Alpha Kappa Alpha Sorority, Inc., and Bethel A.M.E. Church. Favors-Thompson graduated from Park University, in Parkville, Missouri, and earned an M.A. in Public Administration/Personnel Management from Central Michigan University.

Steven L. Evans served as IBM’s Senior State Executive for the State of Florida during his 30-year tenure with the company and currently works with civic and community boards including Florida TaxWatch, Tallahassee Memorial Hospital, United Way, and Prime Meridian Bank. Since retirement, he has worked with local investors to start new companies in the manufacturing, technology, and banking industries and served as the Interim President of the Florida State University Foundation. Evans is a 1971 graduate of the University of Michigan.

FBMC, with its corporate offices in Tallahassee, has grown over the last 41 years to acquire more than five satellite offices in Florida, Texas, and West Virginia. FBMC’s Board members are responsible for overseeing the long-term strategic plan for the company enabling its senior management team to advance the company’s mission, vision, and values.

Issue 2017-02

Apr 26, 2017

Trump, GOP Still Aiming to Pass Health Care Bill

Patrick Flemming, CCO

This Saturday, April 29, 2017, will mark the 100th day of Donald Trump’s presidency, an important milestone by which the successes of a President are measured. Based on President Trump’s pledges, we in the healthcare and employee benefits industry expected to see significant changes related to the repeal and replacement of the Affordable Care Act (“ACA”). However, the bill to effectuate such changes, the American Health Care Act (H.R. 1628), has since failed to garner enough support from Republican members to pass in the House of Representatives. House Republicans are reportedly making a last-minute charge to pass the measure before the 100-day mark, having received backing from the House Freedom Caucus—the group whose earlier holdout led House Speaker Paul Ryan to pull the bill from consideration in late March. That being said, the Tuesday Group, an informal caucus of moderate Republican members are still on the fence, and the House has indicated that their top priority this week is passing a spending measure to avoid a government shutdown.

While it is unlikely the American Health Care Act will pass the House before this weekend, it may be reconsidered in the near future. At the moment, House members are voicing their support for a proposal from Rep. Tom MacArthur (R-NJ) that, according to the Wall Street Journal, “would allow states to waive some insurance requirements established by the 2010 health law . . . if the states could argue that it would enable them to lower the cost of premiums or insure more people.” The proposal would also free insurers from covering certain essential health benefits; and while insurers would still be required to cover individuals with preexisting conditions, the insurers would be permitted to charge those individuals higher premiums. Some variation of other key provisions in H.R. 1628, such as the following, would likely still be included:

  • Zeroing out the penalties associated with the ACA’s individual and employer mandates;
  • Increasing the ratio of premiums that may be charged to older persons versus younger persons;
  • Rolling back Medicaid expansion;
  • Modifying the premium tax credits model to be based on age instead of income;
  • Imposing penalties on individuals who do not remain continuously covered;
  • Further delaying the “Cadillac Tax” beyond 2020; and
  • Expanding contributions to both flexible spending accounts and health savings accounts.

The American Health Care Act is not the only proposed legislation that would increase permitted contributions to health savings accounts. Indeed, the Health Savings Account Expansion Act (H.R. 247) and the Health Savings Act of 2017 (H.R. 35), both introduced in January, would increase contribution limits, among other things. For example the Health Savings Account Expansion Act would increase contribution limits for single and joint filers to $9,000 and $18,000 per year, respectively; permit over-the-counter purchases; repeal increased penalties on ineligible withdrawals; permit HSA funds to pay premiums and direct primary care expenses; and eliminate the requirement that HSAs be tied to a high deductible health plan.

While the American Health Care Act and the health savings account expansion bills would revise or eliminate certain provisions of the ACA, the ACA still remains the law of the land— despite the efforts of House Republicans and President Trump during his first 100 days in office. Therefore, all mandates, requirements (such as employer reporting requirements), and penalties associated with the ACA remain in effect at this time. Accordingly, we encourage employers to remain committed to the practices and procedures they have in place and continue to adhere to any and all provisions of the ACA until those provisions have been officially revised or eliminated. We will continue to monitor the rapidly-evolving healthcare landscape and keep you apprised of any changes in relevant regulations and laws.

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The Compliance Corner is intended to provide accurate and authoritative information on the subject matter covered. It is distributed with the understanding that neither the authors nor FBMC are rendering legal, accounting, or other professional advice and assume no liability in connection with its use. No portion of this article may be reprinted or used without written permission from FBMC. Copyright 2017, FBMC.

Issue 2017-01

Feb. 9, 2017

From the Editor

Trish Neely, CCO

2017 is poised to be an interesting year for employers, consultants, brokers, insurers.

Although I become a retiree this month, my interest in employee benefits will continue and I intend to watch the proceedings with much interest. Patrick Fleming, whom many of you met at our recent Conference, is assuming my duties and will continue providing you with regulatory content, interpretations and guidelines to assure your plans remain compliant. It has been my pleasure to work directly with many of you through the years and I wish you all the best.

We won’t repeat what you have doubtless read and heard in the news. Suffice it to say the January Executive Order will cause the new Secretaries of the governing agencies (DOL, IRS, and DHHS) to look immediately at what they can change without Congressional Action. You have heard the term “reconciliation” which only requires a simple majority to pass, however keep in mind, it only applies to mandatory spending provisions and not the full Act. It is likely to be a repeat of the 2015 reconciliation bill which included:

  • Repeal of premium tax credit/subsidies
  • Elimination of penalties for individual and employer mandates
  • Repeal of Medicaid expansion
  • Repeal of Cadillac Tax
  • Reduction of HSA excise tax from 20% to 10%
  • Repeal of Health FSA cap

To recover from the revenue hit from Reconciliation (or repealing the Act) a likely result is a cap on the employee exclusion for employer provided health care (and the cap on the matching savings employers realize). This has been discussed and debated for years and keeps emerging as a revenue fix. Keeping some of the Act’s provisions such as lifetime caps, age rating, prohibition of pre-existing conditions will be challenging and will result in adverse selection without some type of control or mandate in place to encourage young and healthy enrollees. Ryan, Cassidy/Collins, Paul all have alternatives to PPACA – a common theme is retaining certain provision, giving HSAs a boost, less dependence on employer based coverage and a cap on employee exclusion for employer provided healthcare.

Nothing to date has caused the need for a change with your current plan documents; we will keep you informed as events unfurl. In the meantime we recommend holding the course and acting as if PPACA is still the law of the land until you hear otherwise.

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The Compliance Corner is intended to provide accurate and authoritative information on the subject matter covered. It is distributed with the understanding that neither the authors nor FBMC are rendering legal, accounting, or other professional advice and assume no liability in connection with its use. No portion of this article may be reprinted or used without written permission from FBMC. Copyright 2017, FBMC.

Issue 2016-03

2017 Cost Of Living Adjustments

General benefit increases are based on increases in the cost of living, as measured by the Consumer Price Index.
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2017 Indexing Adjustments for PPACA Mandates

The IRS issued indexing adjustments to determine when coverage is affordable and when an individual is exempt from the shared responsibility penalty. These amounts determine the employer and employee shared responsibility penalties.
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The Compliance Corner is intended to provide accurate and authoritative information on the subject matter covered. It is distributed with the understanding that neither the authors nor FBMC are rendering legal, accounting, or other professional advice and assume no liability in connection with its use. No portion of this article may be reprinted or used without written permission from FBMC. Copyright 2016, FBMC.

Issue 2016-02

DOL Increases Penalties for Violations Projects $140M in Penalty Payments

Congress enacted legislation in 2015 to adjust civil monetary penalties for a wide range of compliance violations under the jurisdiction of the Department of Labor. Some penalties have not been adjusted in decades. Thus, in 2016, initial catch-up adjustments are effective on the first of August; thereafter adjustments will be made by January 15th of each year.
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Filing 2016 Forms 1094 & 1095

If you are an Applicable Large Employer (ALE), draft 2016 Forms 1094 and 1095; and draft Instructions for the “C” Forms have recently been filed. The Forms show few changes from 2015; however the 2016 instructions include some additional examples and clarifications. A few highlights follow.
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The Compliance Corner is intended to provide accurate and authoritative information on the subject matter covered. It is distributed with the understanding that neither the authors nor FBMC are rendering legal, accounting, or other professional advice and assume no liability in connection with its use. No portion of this article may be reprinted or used without written permission from FBMC. Copyright 2016, FBMC.