captive domicile ohioWe were excited to see that Ohio Governor John Kasich signed H.B. 177 into law earlier this week. The legislation paves the way for captives and special purpose vehicles to call the Buckeye State home.

Captives that domicile in Ohio will be able to insure commercial lines of insurance such as commercial multiple peril, marine, medical malpractice and workers‘ compensation.

Ohio now joins a growing list of 30 U.S. states that allow captives.

More details about Ohio’s captive legislation can be found in H.B. 117.

Photo by Eric Kristobaldude Hepperle

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medical stop-loss captive

Recently, Spring Senior Partner John Cassell presented a session on colleges funding health insurance using a medical stop-loss captive. The session covers how to create a medical stop-loss captive, the economies and efficiencies that can be achieved and why colleges and universities should have this on their radar.

In this webcast, John is joined by Spring Partner Teri Weber and Tracy Hassett who is Vice President, Human Resources at Worcester Polytechnic Institute in Worcester, Massachusetts.

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Peter Bandarenko to lead New Market Development

Peter Bandarenko

We are pleased to announce today that Peter Bandarenko has joined Spring as Senior Consultant and Head of New Market Development.

Peter brings over twenty five years of group insurance industry experience.  He is a proven employee benefits, captive and product development capabilities with a strong background in technical sales, sales management and product development, in both the insurance carrier and broker/consulting fields.

Prior to joining Spring, Peter held various positions within Prudential, The Hartford and MetLife, as well as Dye & Eskin, Inc., an independent insurance and benefits planning firm.

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IRSBy: Tom King and Josepha Conway

For companies that provide retiree benefits, administration and funding tend to be dually burdened by the requirements imposed by the Employee Retirement Income Security Act (“ERISA”) and the often significant financial reporting standards of the U.S. Generally Accepted Accounting Principles (“GAAP”).  Adding further to the burdens are the significant cost increases over the last decade, primarily as a result of lower discount rates.  As a result, plan sponsors are faced with the difficult decision of choosing between reducing or eliminating retiree medical benefits.

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Karin Landry Spring Consulting Group

Recently, Spring Managing Partner, Karin Landry, presented a web session on the benefits of employee benefit captives and the process for gaining a prohibited transaction exemption from the US Department of Labor to fund employee benefits in a captive.

As you may know, the Exemption Process (EXPRO) has been on something of a hiatus for a couple of years, but recently, Intel was approved to fund their life and accidental death and dismemberment in their existing captive. This approval, coupled with Coca-Cola’s exemption approval, seems to indicate that EXPRO may be on the way back.

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DMEC conference 2014 imageWe are happy to announce that Spring Senior Consultant and Head of Clinical Strategies, Kimberly Mashburn and Tricia Engfehr, Director of Human Resources at Memorial Health System, have been selected to present at this year’s Disability Management Employer Coalition (DMEC) Annual Conference.

This year’s DMEC conference will run from August 11-14 at The Venetian Resort in Las Vegas.

The title of Mashburn and Engfehr’s presentation is “1800 NOT@WORK: Implementing a True Total Absence Management Program.” It will focus on Memorial Health System’s successful efforts to manage all leaves of absence through an effective strategy setting program and process re-design project managed by Spring.

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FilesThe U.S. Department of Labor (DOL) and Department of Health and Human Services (HHS) recently updated and clarified a few aspects of the Consolidated Omnibus Reconciliation Act (COBRA). The changes are important for employers because they relate to the ongoing implementation of the Affordable Care Act (ACA) and require that employers scrap or modify their current COBRA forms.

The first update comes from the DOL in the form of a new COBRA model general notice form and COBRA model election notice.  The documents have been modified to incorporate ACA-related language; notifying employees about the option of enrolling in the federal Health Insurance Marketplace, informing them that such an option may be cheaper and that they may qualify for federal subsidies.

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JWLW_ATT_logo-01We are happy to announce that, for the second year in a row, Spring is a sponsor of the Judson Women’s Leadership Workshop to be held on June 26th at the Double Tree Hilton Hotel in Atlanta.

The workshop’s purpose is to develop leadership skills for the target audience of women collegiate athletes and young professionals.  Topics include a number of informative and helpful career-building sessions including “Taking Control of Your Career”, “Effective Use of Social Media” and “Developing Your Personal Brand.”  There is no charge for college students to attend and only $55 for young professionals.

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