FIlco September 2018 Newsletter

October 1st, 2018

FILCO Industry News

September 2018

Executive Note

Benjamin Franklin was quoted as saying, “If you fail to plan, you are planning to fail.” This couldn’t be more true as we approach 4th quarter in anticipation of 2019. We want our Brokers to have the most successful 2019 possible and are providing you with the knowledge and information you need to bring to your current and prospective clients. We encourage you to attend Broker carrier events, seminars and webinars to familiarize yourself with the changes and updates in the small and large group marketplace. Coupled with your early planning, our FILCO team representatives are available to highlight for you new ideas and strategies to help you win and secure new business for a prosperous 2019!

Wednesday, October 3rd

FILCO'S EXCLUSIVE Broker event in Midtown New York City on Wednesday, October 3rd.
Are your clients asking questions about ASSOCIATION plans? Looking for innovative and CREATIVE COST SAVING SOLUTIONS for your clients (or prospective clients) for 2019? Seats are limited! If interested in attending, reserve your seat ASAP with Ilana Arbeit or
Colleen Visconti.

Stay up to date with FILCO Blog and Calendar

FILCO industry insights at FILCO Blog

A Message from our PEO Manager

Please note that Idilus PEO is no longer accepting sole prop applications until January 1st 2019. They are currently restructuring their sole proprietor program and will provide further information before the end of the year. Idilus is not terming anyone that is already enrolled...they are just not accepting NEW applications. Brokers will continue to be paid on their current cases. Idilus is now only accepting groups with 5 or more employees (with at least one enrolled) and the census submitted must contain dependent information to be considered. (Some of our other PEO partners require this now too so if you can obtain this information, we can provide additional options for your clients to consider).
If you have a sole prop client that is looking for coverage, TriNet offers a solution for 1 person groups (K-1 applicants do not even need to run payroll!)
CoAdvantage PEO has announced that AETNA can now offer our Brokers $30 PEPM bonus compensation for any enrolled NY small group case! This is in addition to CoAdvantage's broker comp! WOW!
PEO Sales Manager Colleen Visconti is always available to answer at
732-704-5079 or with any questions and/or opportunities.

Senior Care Update - Medicare in the News

Medicare "Doughnut Hole" will close in 2019
The dreaded “donut hole” that Medicare Part D beneficiaries encounter when they reach a certain dollar amount on their prescription drugs, scheduled to close in 2020, will instead close in 2019. Under the Affordable Health Care Act the “donut hole” coinsurance was decreasing each year in 5% increments until it reached 25% in 2020. However, a bill passed by Congress earlier this year moved it up to 2019. What this means for your clients is a potential savings on more expensive brand name prescriptions. Congress made the early close possible by requiring certain pharmaceutical manufacturers to pay a higher percentage of the drug cost for enrollees who are in the coverage gap. 
Exciting News Remote Signature now available in LEAN for AARP Medicare Supplement Insurance Plans!!
Click here for more details about this new service provided by UnitedHealthcare Insurance Company for AARP Medicare Supplement Insurance Plans.

NAHU Update

The New York State Primary Election was held on Thursday, September 13, 2018. Voter turnout was double that of 2014, but still relatively low. Below is a summary of some of the important race outcomes:
  • Governor: Andrew Cuomo defeated Cynthia Nixon 64% - 34% and is expected to beat Republican nominee, Marc Molinaro, in November’s general election.
  • Lieutenant Governor: Kathy Hochul, the incumbent, beat out NYC Councilmember, Jumaane Williams, in a narrow victory.
  • Attorney General: New York City Public Advocate, Letitia James, won in a 4-way race. She will face Keith Wofford in the General Election.
  • The Republicans currently hold a slim majority in the Senate. If even one seat is lost, control of the Senate will turn over.
  • The Assembly will remain in control of the Democrats regardless of November’s election results.

Exciting Promotion

TASC's Endless Summer Promotion ends October 31st
All new FSA business applications received by TASC by October 31st. will have setup and 1st two renewal fees waived. TASC also has a Price Match Guarantee, promising to meet/beat any competitors pepm for FSA, HRA and HSA. Both can be uses to guarantee the lowest FSA cost.
Some of TASC FSA Differentiators include:
  1. Fastest Reimbursement Model
  2. 80% Auto Adjudication
  3. NEVER shuts off cards for non-substantiation
  4. Withholding-based Funding
  5. Floats Uniform Coverage Dollars
  6. Mid-Yea Takeover Option
  7. Exclusive Audit Guarantee

" There are two types of people who will tell you that you cannot make a difference in this world: those who are afraid to try and those who are afraid you will succeed."
Ray Goforth

Our FILCO team is constantly posting great industry reads via our social media outlets, stay informed on our industry follow us on social media!

Thank you for your support!

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New York, NY 10017
Phone: 212-972-1970

New Jersey
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Red Bank, NJ 07701
Phone: 732-219-6545