Welcome to the new website for Dickerson’s Large Group Benefits Consulting division. We are excited about the launch of this new site that offers you up-to-date information on large employer health and ancillary benefits.
If you are interested in knowing more about our services, we invite you to browse the many features of this site.
Licensed nationwide, we partner with agents and their clients to provide health insurance benefits to employers of all sizes and from a wide variety of industries including the education, hotel/resort, hospital and non-profit sectors.
Alera Group Executive Tony Lee Receives the National African American Insurance Association 2019 Agent/Broker Leadership Award
Deerfield, IL and Washington, DC (9/16/19) – Alera Group, a leading national insurance firm, is pleased to announce that Tony Lee, Managing Partner for Dickerson Insurance Services, an Alera Group Company, has been selected by the Board of the National African American Insurance Association (NAAIA) to receive the 2019 Agent/Broker Leadership Award. (Click here for whole story).
New California Employee Classification Test Signed into Law
On September 18, 2019 California Governor Gavin Newsom signed a legislation placing in law the test for determining when an employee is an independent contract.
The legislation, Assembly Bill 5 (AB5) , codifies a 2018 California Supreme Court decision and carves out exemptions for some professions, including doctors and real estate agents. The new test expands which workers must receive such benefits as minimum wage and paid sick leave.
Many believe AB5 will have a huge impact on gig jobs, as the legislation jeopardizes the flexibility and income opportunities the modern employment model provides for thousands of California workers.
To learn more on AB5 and get information on who it will impact, visit the following link: here
The law is effective January 1, 2020.
Amazon Launches Pharmacy Prescription Fulfillment Service
Amazon announced the much-anticipated launch of its new prescription fulfillment service, Amazon Pharmacy. The offering permits users to purchase prescription medications using Amazon.com, a new convenience that may upend the pharmacy industry. It also includes free, two-day shipping for Amazon Prime members. Customers are required to sign up for Amazon Pharmacy and set up a profile by providing basic information. Users will be prompted to list current medications as well as health conditions or allergies that may conflict with prescriptions. Click here to visit the site.
IRS Maintains Health FSA Contribution Limit for 2021, Adjusts Other Benefit Limits
On October 26, 2020, the Internal Revenue Service (IRS) released Revenue Procedure 2020-45, which maintains the health flexible spending account (FSA) salary reduction contribution limit from 2020, which is $2,750, for plan years beginning in 2021. Thus, for health FSAs with a carryover feature, the maximum carryover amount is $550 (20% of the $2,750 salary reduction limit) for plan years beginning or ending in 2021. The Revenue Procedure also contains the cost-of-living adjustments that apply to dollar limitations in certain sections of the Internal Revenue Code. Click here for more.
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U.S. Department of Labor Issues Final Overtime Rule
On September 24, 2019 the U.S Department of Labor announced a final rule to make 1.3 million U.S. workers eligible for overtime pay under the Fair Labor Standards Act (FLSA).
This rule revises the earnings limits necessary to exclude executive, administrative, or professionals from the FLSA’s minimum wage and overtime pay requirements and allow employers to add a percentage to specific bonuses toward meeting the salary level. The new limits account for growth in employee earnings since the currently enforced limits were set in 2004. The changes to take place by the department are the following:
- Raising standard salary level from $455 to $684 per week.
- Raising the total annual compensation level for “highly compensated employees (HCE)” from the currently-enforced level of $100,000 to $107,432 per year.
- Allowing employers to use nondiscretionary bonuses and incentive payments (including commissions) that are paid at least annually to satisfy up to 10 percent of the standard salary level, in recognition of evolving pay practices.
- Revising the special salary levels for workers in U.S. territories and in the motion picture industry.
The final rule is effective on January 1, 2020.
For more information on this rule visit the following link: here