Posts Categorized: Benefits Update

September is Life Insurance Awareness Month

September is Life Insurance Awareness Month. Life insurance is one way to prepare for the hyperbole floods in our life. “It wasn’t raining when Noah built the Ark.” In our present circumstances, we’re reminded of how fragile life can be. If you have someone in your life who depends on you and your income you… Read more »

Updated HSA Contribution Limits for 2020

Each year the IRS releases updated health savings account (HSA) and high-deductible health plan (HDHP) limits for the coming year.  2020’s limits are listed below and further information can be found on the IRS website HERE or by contacting Heather Baird at hbaird@insurancetrust.us. 2020 HSA Contribution Limits Individual: $3,550 ($50 increase from 2019) Family: $7,100… Read more »

Introducing our New Employee Benefits Specialist

Insurance Trust is pleased to introduce Pam Huntington as our new Employee Benefits Specialist. Pam comes to our team with more than fifteen years of experience in the health insurance and voluntary benefits field.  She has previously worked as an Account Manager at both the health insurance carrier and broker levels.  Pam also worked in… Read more »

Providing the Required Employee Benefits Notices to Employees

Open enrollment season is upon us. Employers are required to provide employees with certain benefit notices during this time of year. It is important to know which notices your group is required to provide. For example, the summary of benefits and coverage (SBC) must be provided at open enrollment time. Other notices must be distributed… Read more »

Benefits Update – IRS Lowers 2018 HSA Family Contribution Limit

As the result of a provision in H.R. 1 (“Tax Reform”), the IRS now adjusts for inflation using the Chain Weighted CPI method, believed to be a more accurate calculation, keeping in line with cost-of-living. This applies immediately and has impacted family HSA contributions for 2018.

Coming in March, the 3rd Annual Turning 65 Workshop for Employees Age 60+

For the third consecutive year, Insurance Trust is partnering with the Turning 65 Workshop to bring their popular Social Security & Medicare learning program to Maine credit union employees who are closing in on retirement. This fast-paced and engaging 2-hour workshop is designed to build a solid understanding of the basics of these essential retirement… Read more »