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John Powter

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Distribution rates

Posted by John Powter

Apr 18, 2016 11:39:33 AM

When many people think about the market, they think in terms of accumulation rates. In other words, they think “the market has averaged 10% over the last 30 years”. Of course, this leads them to believe that they can withdraw 8% or some other number and have a secure and lovely retirement.

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An Active Shooter Conversation With My Nine Year Old

Posted by John Powter

Feb 21, 2016 12:12:22 PM

Here are the facts-

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Topics: Active Shooter

Active SHooter Insurance Program

Posted by John Powter

Feb 13, 2016 5:05:58 AM

Just last week there was another active shooter incident in Glendale AZ. Schools and Universities are becoming increased targets for these attacks. The problem in the insurance industry is this emerging risk falls between two active_sh-1024x683.jpginsurance policies. Are the two girls in Glendale terrorists? By all news counts no it appears as a murder-suicide, but in today's world what is terrorism and what is just a random act of violence?    Does the liability fall on the General Liability Policy or the Terrorism policy?  We find when Schools and Universities press the insurance company for a written response before an incident happens the insurance companies cannot provide one.

GDP Advisors has created an active shooter insurance program to solve these potential gaps in coverage and adds additional layers of risk management- prevention and mitigation.  We have an on onsite assessment to make sure you have the best in the class emergency action plan. We also provide a public relations disaster team if your School or University is victimized.  Our   Active Shooter Program wraps all risk into one policy form so that you aren't victimized twice, once by the incident and secondly by a gap in coverage.

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Topics: Active Shooter

Active shooter planning for schools

Posted by John Powter

Feb 13, 2016 4:45:49 AM

Each day 55 million students enter the halls of our education system here in the United States. The community expects schools to provide a safe from threats.  Most of these universities follow the PPD-8, which is surrounded by five key areas:

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Topics: Active Shooter

Active Shooter Insurance Program

Posted by John Powter

Feb 7, 2016 4:19:50 AM

 The active shooter insurance program will provide a solution to US Education facilities,  Those institutions face an alarming risk and potential coverage gap in the General liability and Terrorism insurance policies they currently have. 

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Topics: Compliance, Active Shooter

Form 1095-A: What You Need to Know

Posted by John Powter

Dec 12, 2015 10:40:50 AM

By Jan. 31, 2016, the Health Insurance Marketplaces will be mailing Form 1095-A to all individuals who enrolled in Marketplace health insurance coverage. Form 1095-A acts as proof of insurance, and is sent to individuals who had Marketplace coverage to allow them to:1095.jpg

  • Claim Premium Tax Credits
  • Reconcile the Credit on their returns with Advanced Premium Tax Credit Payments
  • File accurate tax returns in general, as this information can be used to help determine exemptions or penalties under the individual mandate

Purpose of Form

Form 1095-A is not a form that you have to complete; it is simply used to report certain information to the IRS about individuals who enroll in a qualified health plan through the Health Insurance Marketplace.

If you received a premium tax credit to help pay for your Marketplace coverage, you’ll use the information on Form 1095-A to fill out your Premium Tax Credit Form 8962. This form will allow you to claim additional tax credits or to repay amounts if you got too much assistance based on your income. Most people who received tax credits will need to fill out Form 8962, since even a slight change in income will change the amount of any tax credit that they are owed.

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Saying goodbye to annual reviews

Posted by John Powter

Dec 12, 2015 10:35:40 AM

Annual performance reviews have dominated the HR landscape for decades. In recent years, though, questions have been raised about the effectiveness of annual performance reviews, due to the time strain they pose on leadership and the outcomes achieved (or lack thereof).time.jpg

According to a study from CEB, a management research firm, 95 percent of managers are dissatisfied with their companies’ performance review methods, and 90 percent of HR professionals believe that the annual performance review process does not produce accurate information—leaving many in search for better methods. This realization has led some companies to get rid of annual performance reviews in favor of more frequent check-ins with their employees, including high-profile companies like GE, Accenture, Adobe, Gap and Medtronic.

Why Companies Are Giving up Annual Performance Reviews

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Health savings account what you need to know

Posted by John Powter

Dec 5, 2015 5:16:50 AM

Health Savings Account (HSA) Eligibility Rules

Many employers offer high-deductible health plans (HDHPs) to control premium costs, and pair this coverage with health savings accounts (HSAs) to help employees with their health care expenses.hsa_chart.png

An HSA is a tax-favored trust or account that can be contributed to by, or on behalf of, an eligible individual for the purpose of paying qualified medical expenses. For example, individuals can use their HSAs to pay for expenses covered under the HDHP until their deductible has been met, or they can use their HSAs to pay for qualified medical expenses not covered by the HDHP, such as dental or vision expenses.

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Workplace Wellness Plan Design – Legal Issues

Posted by John Powter

Nov 27, 2015 9:46:48 AM

Employers that offer health benefits to their employees may decide to implement wellness plans as a way to help control health plan costs and encourage healthy lifestyles. There are a number of legal compliance issues that are involved with designing workplace wellness plans. We recentrly wrote about wellness plans here. Wellness plans must be carefully structured to comply with both state and federal laws. The three main federal laws that impact the design of wellness plans are:

These laws each have their own set of legal rules for acceptable wellness program design, which are not always wellness-1.jpgconsistent with one another.

This Legislative Brief provides an overview of the requirements for wellness plans under HIPAA, the ADA and GINA. See Page 7 for a chart that compares key wellness plan requirements under these three laws.

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Final ACA Market Reform Rules Issued

Posted by John Powter

Nov 27, 2015 9:38:26 AM

Quick Facts:

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