Happy Independence Day
July 4th, 2010
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We hope that you have a safe and happy 4th of July. Our office will be observing the 4th of July holiday on Monday, July 5th,
2010. We will re-open for regular business hours on Tuesday July 6th, 2010.
Let's remember our troops all over the world this holiday as we celebrate our wealth of freedom!
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Operation Shout
Limited Benefit Plans need Flexible Transition
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We are asking your help this  week with a
very timely Operation Shout campaign on a health
reform implementation issue which could cause more than one million
Americans to lose their current private insurance if they are not
afforded some sort of regulatory transition.
About 1.4 million workers nationwide have coverage through group
"limited benefit plans" with annual caps on benefits. Many of these
individuals work for large employers on a part-time, seasonal, or
temporary basis, or are in a waiting period for an employer's regular
health plan. Under the Patient Protection and
Affordable Care Act (PPACA), these individuals could lose that coverage
and be unable to access subsidized coverage until 2014 because beginning
September 23, 2010 the new law prohibits group health plans from having
annual dollar limits, except as allowed by the HHS Secretary. Annual
dollar limits are prohibited altogether beginning in 2014.
These limited benefit plans are considered "creditable coverage"
under the law, but the new high risk pool rules under the PPACA require
that an uninsured person seeking risk pool coverage not have creditable
coverage.
You can be very helpful in contacting their Members of
Congress and Senators and urging them to weigh in with HHS Secretary
Kathleen Sebelius to allow a temporary, limited exemption from new
annual benefit limit rules until 2014 for these limited benefit plans.
We very much appreciate your taking a few minutes to participate in
this important Operation Shout. For more information Email Bev Gough at Bev@GreatLakesIM.com, or call her at (269)983-0633 or (800)782-8190. |
NAIFA Member Webinar
Focus Will be on Advocacy
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 The insurance and financial services industries have seen
unprecedented federal and regulatory changes in recent months. From new
federal health care laws, complete reform of financial services
regulation, and constant efforts at both state and federal levels to tax
insurance products, the "perfect storm" continues to rage on.
Join NAIFA's Government Relations team to learn more and to
find out what you can do to preserve your business and your clients'
financial futures in the fact-filled webinar, available to NAIFA members
only. Date: Tuesday, July 13, 2010
Time: 1-2 p.m. ET Space is limited. Reserve your webinar seat now at https://www2.gotomeeting.com/register/267094674.
After registering you will receive a confirmation email
containing information about joining the Webinar For more information: See www.naifa.org/webinars
or contact the NAIFA Member Service Center, 877-866-2432. |
Flexible Spending Accounts
Changes That Affect You
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The recent passage of  Health Care
Reform legislation will affect virtually every American in one way or
another. Among many other health care benefits, regulations for Flexible
Spending Accounts have also been altered by Health Care Reform.
Children up to Age 26
- There is a requirement for group health
insurance plans to cover children up to age 26. This requirement applies
to plan years that begin on or after September 23, 2010. Plans that run
on a calendar year, as most do, would not have to begin covering these
young adults until January 1, 2011.
- Effective March 30, 2010 parents can now
use their flexible spending accounts to pay for medical expenses
for their children regardless of tax dependency status, as long as the
child does not reach age 27 in that tax year. With employer approval,
employees can now increase contributions to their flexible spending
accounts midyear to pay for medical expenses for their dependents up to
26 years old.
Over-the-Counter (OTC) Medicine
- OTC medicine is still eligible, however,
effective January 1, 2011, a prescription or letter of medical
necessity will be required for OTC medicines to be reimbursed through an
FSA, HRA or HSA. OTC items such as insulin, contact lens solution,
bandages and durable medical equipment will continue to be covered
without a prescription.
Contribution Limit
- For tax years beginning after
12/31/2012, annual Health FSA contributions will be capped at
$2,500. Starting in 2014, this contribution limit will increase each
year to adjust for inflation.
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| Web Portal Letter Needs Support
Urge Your Representatives in Congress to Sign It
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 Action Is Urgently Needed:
Congressmen Charlie Melancon and Lee Terry are circulating a "Dear
Colleague" letter regarding the new health web portal required by the
Patient Protection and Affordable Care Act (PPACA). Members of Congress will be asked to sign a letter addressed to
U.S. Department of Health and Human Services Secretary Kathleen Sebelius
strongly encouraging the inclusion of agent language on the new web
portal. Consumers should be made aware of the personalized assistance
provided by state-licensed health insurance agents. Please contact your Representative to encourage support of the
Melancon "Dear Colleague" effort. |
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How to Beat the Heat
Five
Ways to Stay Cool This Summer
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 Here are five strategies, each as important as any other, for beating
the summer heat. (Avoiding sunburn is a separate issue.) 1. Wear loose clothes and light colors. Sensible as it seems, I see
surprising numbers of people outdoors this time of year dressed in
black. Might as well tie yourself into a giant trash bag. Wise up. 2.
Douse the ``flame'' with plenty of water. Hydration is critical, and
ignoring the need can be dangerous. The standard is about 12 ounces of
water for every half-hour of summertime outdoor activity. 3. Take
breaks. Enjoy yourself, but pause frequently to hunt down a
little shade and let your body recharge itself. 4. Avoid the
alcohol. Knock back a cold one if you're old enough and
feel so inclined, but don't count on beer to keep you hydrated. In fact,
alcohol takes your body in the other direction. Mix in water, lots of
it, to stay on the safe side of heat-related problems. 5. Chill
out. If you feel seriously overheated but still are capable of
caring for yourself, apply ice or cold compresses to your wrists, neck,
or the area just below your navel. Relief comes rather quickly,
thankfully, after which you might want to pay closer attention to the
first four tips. Got any other thoughts on not bringing your body to a
boil when the
temperature presses past 100 degrees? |
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 A
Managing General Agent (MGA) and General Agent (GA), providing
assistance to independent Agents and Agencies throughout the Midwest
with products and services which increase their sales and market growth
in the individual, group and senior insurance markets.
Great Lakes Insurance Management began company operations back in the early 1970's in St. Joseph, Michigan. We provide services to agents via a staff of experienced and trained insurance professionals. |
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SAND, SUN, FUN AND A FEW GREAT PRIZES TOO!
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Great Lakes Insurance Management is changing the Vacation Giveaway Program this year!
We will still be giving away a fantastic trip to qualifying agents, but we will also be giving away some great prizes on a tiered level.
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