ACA Update – Off-SHOP Composite Rates Available Soon in Maine

Posted by on Jun 23, 2015 in Benefits Update |

In an exciting bit of news, the Maine Bureau of Insurance is allowing off-SHOP plans to offer composite rates (employee, employee/spouse, employee/child(ren), family) in 2016.   Anthem and MCHO will be offering composite rates.  Aetna and Harvard Pilgrim have not yet decided if they will, but I will be sure to keep you apprised.  Composite rates will be based on a calculation of the age-banded rates for the group at renewal rather than the average age of the group which is what the old composite rates did.  Rates would stay the same until your next renewal rather than taking any enrollment changes into account during the year.   As always, please let me know if you have any questions regarding the Affordable Care Act. Elizabeth Ingram Account Manager, Employee Benefits Insurance Trust Phone: 800-287-3379 x 312...

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13th Annual Special Olympics Maine Golf Tournament

Posted by on Jun 9, 2015 in News |

Insurance Trust along with our subsidiary Equinox Financial & Insurance Services will be holding our 13th Annual Golf Tournament on Thursday July 23, 2015. This tournament is our largest fundraiser for Special Olympics Maine and will take place at Spring Meadows Golf Club in Gray, Maine. Tee off will be at 9:00 am with a “Shot Gun” start. Registration is from 7:45 am to 8:45 am with a continental breakfast available, sponsored by Equinox Insurance. We will also be providing a bag lunch for each golfer and a post-golf reception. Please come out, have some fun and help support Maine Special Olympic Athletes and their families! Registration fee includes: Green fees Golf cart Continental breakfast Bag lunch Post golf reception (cash bar available) Mulligan (Maximum 4 per team) Click the link below to download the registration/sponsorship form to register today! Registration Form Thank you for supporting Special Olympics...

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Know Before You Owe: Mortgages

Posted by on Jun 5, 2015 in Compliance |

As most of you know the CFPB issued a final rule on the new Combined Mortgage Disclosures. The CFPB requires “easier to use mortgage disclosure forms” commonly referred to by CFPB as “Know Before You Owe.” The new forms will replace existing federal disclosures (e.g. TIL/GFE and TIL/HUD-1 or HUD-1A) Along with the new forms; credit unions will have to review their existing mortgage process to insure compliance with the new rules that will become effective August 1, 2015. Conmar is working hard reviewing the new requirements and will begin developing the new forms during the 3rd quarter of this year (by September 2014). Our plan is to make them available well before the August 1, 2015 deadline to ensure proper time for data processors to work out any bugs. At the present time, you don’t need to do anything if you are a current customer with a paid Annual License Agreement and receive a Closed End Home Equity Package from us. If you do not receive a complete Closed End Home Equity Package from Conmar or if we don’t provide these forms for you, please contact us to order them at which time we will send you a work order to be signed/dated to begin the work. For most credit unions there is no proof process, the forms will be automatically updated and sent in their last recorded format to either the credit union or the data processor. For some credit unions, depending on the information we gather from your existing forms on file there may be a proof process and you will be notified if this process applies to your credit union.   The forms The Loan Estimate – this form will be provided to applicants within three business days after submission of a loan application and limits how the final deal can change from the original estimate. It provides a summary of key loan terms and estimated closing costs. The intent of the new forms is to provide consumers with a form to compare costs and features of different loans. The Closing Disclosure – This will be provided to consumers three business days before consumers close on a loan. It replaces the final Truth in Lending Statement and the HUD-1 uniform settlement statement. In addition to summarizing the final loan terms and cost, the Closing Disclosure provides consumers with a detailed accounting of their transaction. By providing consumers with the Closing Disclosure three business days before closing, consumers will have time to review their final loan terms and costs in an unpressured environment rather than at the closing table. Conmar will make the determination of which form you will receive based on information we gather from...

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