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Nov - Dec 2007 Issue
Industry Spotlight: Voluntary Benefits- Critical Illness
Integrated Solutions For Small Business Owners
IRS Publishes Most Common 401(k) Mistakes
In Other News
Catamount Health Insurance Update
The Vermont Campaign for Health Care Security Education Fund is a non-profit organization working to educate Vermonters about the Catamount Health Program.
Go to Catamount Health Toolkit
FJG Seminar- 2008 Healthcare Updates
If you missed the December 11, 2007 Seminar- contact your FJG representative for details. Topics covered:
- VT Healthcare Legislative Update
- New IRS issued Cafeteria Plans Regulations
- Year End Reporting requirements for HSA's
- Prescription Drugs and Pharmacy Management Changes
- Payroll Changes/Updates
- Health Insurance Enrollment Changes
FJG People News
Jeff Thompson and Christa Kemp Pass Series 7
Congratulations to FJG's Jeff Thompson for passing the grueling Series 7 Exam in November. We can say the same to Christa Kemp who passed the exam a few weeks earlier. In case you are not familiar with the Series 7 - This exam is administered by the National Association of Securities Dealers (NASD) that provides an individual with the qualifications necessary to make different types of trades with all types of corporate securities, except commodities and futures.Individuals who want to enter the securities industry to sell any type of securities must take the Series 7 examination—formally known as the General Securities Representative Examination. Individuals who pass the Series 7 are eligible to register with all self-regulatory organizations to trade.
Melanie Brown and Trudy Andrews earn their Vermont Life, Accident & Health Licenses
While Melanie and Trudy's focus is in the Asset Management division at FJG, both are now licensed to sell health, life and disability insurance.Congratulations for a job well done!
Dear FJG Client,
We hope you enjoy the November - December 2007 issue of the FJG/Navigator.
In particular, we find most employers offer a basic employee benefits package, often consisting of group medical, disability and life insurance protection.Historically, this benefits package has been viewed as comprehensive coverage. Read further for information about voluntary benefits and individual disability insurance (DI). Keep in mind the theme of voluntary benefits- they can help address the employers' need for stronger benefits packages.
Our newsletters bring many interesting topics to get you thinking about what is going on in the HR and Benefits industry. If you find an area of interest that you would like to learn more about please contact your FJG consultant. We are always interested to hear your thoughts or to discuss ways we can further help you.
Sincerely,
Your Fleischer Jacobs Group Associates
Industry Spotlight: Voluntary Benefits- Critical Illness
Over the past 5 years, critical illness insurance sales have increased from an estimated $20 - $25 Million in 2000 to about $159 Million in 2006. This growth can be explained in part by the general realization that the odds of surviving a critical illness today are quite high and growing. However, there is still a widespread lack of understanding and appreciation of just how much value these products provide and how they might fit into a benefits package.
Integrated Solutions For Small Business Owners
Small business owners have unique needs in the case of a disability that extend far beyond replacing just their own income. Many owners have need for income protection but don’t realize how income protection plans can be integrated together for the sake of their business. Individual disability plans can be integrated to provide cost effective protection for both the business owner and the business.
IRS Publishes Most Common 401(k) Mistakes
The Internal Revenue Service (IRS) has released a list of eleven of the most common mistakes made in 401(k) plan administration, and how plan sponsors can correct or avoid those errors. Plan sponsors should address the following eleven questions to avoid plan errors:
Benefits Compliance FAQ
Question: We are compiling our Open Enrollment packages. What notices should we include?
Do you have a friend or associate you think might be interested in this issue?
Then
Fleischer Jacobs Group
620 Hinesburg Road, PO Box 2343
South Burlington, VT 05407-2343
P 802.865.5000 | F 802.865.4919
www.fjgfinancial.com
© 2007 Flesicher Jacobs Group
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