Blog
Premium Assistance Under Medicaid and the Children’s Health Insurance Program (CHIP)
The Department of Labor (DOL) periodically updates their 2023 Employer CHIP Notice and we would like to share information that is current as of July 31, 2023. As a reminder, employers with group health plans that cover participants in...
Read MoreGuidance Issued on Emergency Period Expiration
On March 29, 2023, the Departments of Labor, the Treasury, and Health and Human Services (collectively, “the Departments”) released FAQ 58, answering certain frequently asked questions regarding the announced end of the National Emergency a
Read MoreMedicare - Understanding the Basics
Medicare can be a confusing topic and yet it is important to be aware of eligibility timelines and understand the components. We would like to share the presentation below in hopes that it might answer your Medicare questions....
Read MorePrescription Drug Data Collection (RxDC)
Insurance companies and plan sponsors (employers) must submit information about prescription drugs and health care spending, according to Section 204 (of Title II, Division BB) of the Consolidated Appropriations Act, 2021 (CAA).
Read MoreSpecial Report – Perspectives on Market Volatility
Regulators took over and ultimately closed Silicon Valley Bank (SIVB) and Signature Bank (SBNY). These banks were faced with questions over their solvency in recent weeks due to highly concentrated customer bases in struggling industries,
Read MoreShow All
Emergency Periods Related to COVID-19 to End May 11, 2023
On January 30, 2023, the Biden Administration announced its intent to end the Public Health Emergency and the National Emergency related to the COVID-19 pandemic on May 11, 2023. They are currently set to expire after February 28, 2023 and
Read More2023 Health Care Reform Checklist for Small Fully Insured Plans
The Affordable Care Act (ACA) made a number of significant reforms to group health plan coverage when it was enacted in 2010. Since then, changes have been made to various ACA requirements that employers should be aware of. These...
Read More2023 Health Care Reform Checklist for Large Fully Insured Plans
Attention: Employers with More than 50 EmployeesThe Affordable Care Act (ACA) made a number of significant reforms to group health plan coverage when it was enacted in 2010. Since then, changes have been made to various ACA...
Read MoreBenefits Notices for Employers with 2-49 Employees
For companies with 2-49 employees, this chart provides an overview of key required benefits notices and filings for employers and plan administrators under federal law. Please note that your company may be exempt from certain...
Read MoreBenefits Notices: Employers with 50+ Employees
For companies with 50+ employees, the charts provided give an overview of key required benefits notices and filings foremployers and plan administrators under federal law. Please note that your company may be exempt from...
Read MoreRxDC Reporting Relief and Submission Grace Period for 2020/2021
As previously reported, group health plans must submit information annually about prescription drugs and health care spending to the Centers for Medicare and Medicaid Services (“CMS”). This is known as the RxDC reporting requirement and the
Read MoreTelehealth Relief for HSAs Extended in Last Minute Funding Package
On December 23, 2022, the House passed a 4,155-page funding bill, the Consolidated Appropriations Act of 2023 (“CAA- 23”), that includes a two-year extension on telehealth relief for high deductible health plans (“HDHPs”) offered with healt
Read MoreJohns Hopkins Medicine and CareFirst Reach New Strategic Agreement
Parties chart a new course to bring greater value to shared communitiesJohns Hopkins Medicine and CareFirst BlueCross BlueShield (CareFirst) have agreed to a new multiyear contract to provide high-quality care options while building on...
Read MoreQuarterly Market Review & Outlook
We are pleased to share our latest Quarterly Market Review & Outlook, which reviews the key developments that impacted markets over the past quarter and offers our perspective on the themes we expect to affect investors going forward...
Read MoreMedicare Part D Notification Requirements
Employers sponsoring a group health plan with prescription drug benefits are required to notify their Medicare-eligible participants and beneficiaries as to whether the drug coverage provided under the plan is "creditable" or ....
Read MoreMedical Loss Ratio (MLR) Rebate Check Distribution
Medical Loss Ratio (MLR) Rebate checks have recently been or will be mailed by some health insurance carriers. Keep in mind, not all employers will receive an MLR Rebate. Health insurers determine and calculate MLR Rebates based...
Read MoreQuarterly Market Review & Outlook
We are pleased to share our latest Quarterly Market Review & Outlook, which reviews the key developments that impacted markets over the past quarter and offers our perspective on the themes we expect to affect investors going forward...
Read MoreQuarterly Market Review & Outlook
We are pleased to share our latest quarterly market review and outlook, which reviews the key developments that impacted markets over the past quarter and offers our perspective on the themes we expect to affect investors going forward...
Read MoreWorkplace Stress
Job stress is defined as the harmful physical and emotional responses that occur when the requirements of the job do not match the capabilities, resources, or need of the worker. Learn how to reduce workplace stress.
Read MoreBenefits Notices for Employers with 2-49 Employees
For companies with 2-49 employees, this chart provides an overview of key required benefits notices and filings for employers and plan administrators under federal law.
Read MoreBenefit Notices for Employers with More Than 50 employees
For companies with 50+ employees, this chart provides an overview of key required benefits notices and filings for employers and plan administrators under federal law.
Read MoreHSA/FSA/HRA Comparison Chart
If you're wondering how an HSA, Health FSA, and a Traditional HRA compare to one another, you'll find this chart to be a helpful tool.
Read MoreMarket Review & Outlook – Positive Outlook for 2022 but Headwinds on the Horizon
We are pleased to share our latest Market Review & Outlook, which summarizes key developments impacting the global economy and capital markets and offers our perspective on the implications for investors.Our outlook is constructive...
Read MoreDebt Profile of Older Americans
The percentage of older Americans with debt is at its highest level in almost 30 years, and the amount and types of debt are on the rise. In recent years, the increase has largely been driven by the 75-and-older age group – a...
Read MoreFederal Student Loan Interest Rates Set to Increase for 2021-2022
After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.(1) The interest rates on federal student loans are reset each year after the May...
Read MoreRetirement Confidence Remains Strong, Despite Pandemic
Despite the economic shock of the coronavirus pandemic, American workers and retirees remain largely optimistic about their financial prospects for retirement. In its annual Retirement Confidence Survey conducted in January 2021, the...
Read MoreEnhanced Child Tax Credit for 2021
If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents who are not qualifying children.) The American Rescue Plan...
Read MoreBlue Cross Blue Shield Class Action Settlement
For information regarding the Blue Cross Blue Shield Class Action Settlement, please use the contact information listed below. Settlement website at www.BCBSsettlement.com (includes FAQs) Settlement phone line 888-681-1142 Settlement...
Read MoreMarket Commentary April 2021
In our commitment to provide ongoing communication and leadership, we are writing to you today to share the findings of our most recent economic committee meeting of the Freedom Capital Management Strategies®. The quarterly market...
Read MoreEmployer Questions to Consider for COVID-19 Vaccines
As particular COVID-19 vaccines have been authorized by the Food and Drug Administration (FDA) for emergency use and are starting to become more available, employers continue to grapple with how they should (or should not) address the...
Read MoreIRA and Retirement Plan Limits for 2021
Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased. IRA contribution limits The maximum amount you can contribute to a...
Read MoreDeciding When to Retire
1st Vice President, Jordan Taylor, CFP Jordan Taylor, CFPFor most of our lives, retirement is a distant thought that seems years and years away. Then, as with all things time-related, we find this new phase of life to be just around...
Read MoreA Closer Look At Retiree Confidence in 2020
Vice President of Wealth Management, Alec Knight, CFP Alec Knight, CFPAt any given point in time, retiree confidence is an important measurement. People want to know that they will have the funds they need to live comfortably when it...
Read MoreBFG and The CHC Red C Challenge
Brooks Financial Group is a long time supporter of Calvert Hall College High School and their Red C Challenge. In fact, Paul Brooks, President of Brooks Financial Group, is the Challenge's Chairman. Calvert Hall's Red C Challenge was...
Read MoreProud Sponsors of the Thanksgiving Day Turkey Bowl
Brooks Financial Group, Inc. has been the proud title sponsor of the Turkey Bowl for many years. A community and family tradition for 100 years, the Turkey Bowl football game is held on Thanksgiving Day and features two wonderful local...
Read MoreBFG is Proud to Sponsor Calvert Hall College High School's 175th Anniversary Year
Brooks Financial Group, Inc. is proud to announce our role as a Presenting Sponsor in Calvert Hall College High School's 175th Anniversary Year Celebration. The Brooks Financial Group (BFG) family has always maintained strong ties to...
Read More