SilverBlog

Wisdom from our industry experts and our SilverLink magazine.

 
 

Blog Tag: SilverLink

Medicare funding is largely misunderstood. Many people don’t know  here the financing comes from or how it’s changed over the years. Most are just happy to count on government-provided health insurance once they reach age 65.

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The Coronavirus Disease 2019 (COVID-19) has quickly become a global emergency. Within the U.S., the Centers for Disease Control and Prevention (CDC) has reported over 3,400 cases. That number is growing each day, prompting a mass response to contain the spread. Experts are urging people to avoid unnecessary outings and work from home when possible. As a result, organizations across the country are implementing remote work policies. For some managers, however, this is their first experience with virtual team management. Many might feel unprepared for this sudden format change.

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Finding an accomplished and trustworthy M&A advisor can be hard. This is particularly true for firms in the lower middle market (those with annual revenues between $20 million and $250 million). Deals of this size are often pushed to less qualified teams that struggle to provide sound purchase and sale guidance.

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SilverStone Group, the largest Nebraska-based insurance broker, recently announced that it was acquired by Hub International Limited (Hub), the fifth largest insurance broker worldwide. The transaction combines both entities’ shared expertise in employee benefits, risk management, retirement planning and wealth management, paving the way for greater localized service with a stronger global reach.

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Buying insurance for teen drivers can be pricey. Rates for this demographic have been consistently high and we don’t expect that to change any time soon. Teens carry a bit more risk due to their lack of driving experience, so it makes sense that their rates would be higher than someone in their mid-20s. Texting and talking on the phone while driving are also big concerns for this group. Phones are almost always within reach, creating major distractions for drivers who are still learning how to safely operate a vehicle.

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On a nationally syndicated radio program, a caller asked a financial expert the following question: “My wife and I recently retired. We are trying to decide if there’s any reason for us to keep our term life insurance after retirement. What is your recommendation?" The answer was, “No. Drop the policies. There is never a need for life insurance once you retire."

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Health Savings Accounts (HSAs) were created to help people with high deductible health plans (HDHPs) pay out-of-pocket costs. Contributions to an HSA are pre-tax and can cover any qualifying medical expenses. But if you’re approaching age 65, you may have some questions about your HSA and Medicare. You are likely wondering, “Can I use both?”

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Executive compensation plans can attract and retain great leaders, drive individual and business performance and reward results. Therefore, company directors, compensation committees and HR leaders need to invest time and energy to develop their plans. A successful plan should keep top talent in key positons, motivate performance and remain fiscally responsible. While designing an effective plan does require effort, the payoff is worth it. We’d like to outline some general steps you can take to start the process.

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Rates have been on a steady climb for commercial property insurance coverage. And thus far in 2019, loss trends continue to create pricing concerns. The market began to harden in 2017 following the second costliest year on record for insured and uninsured claims. Matters were made worse in 2018, which is now the fourth costliest natural disaster year on record for insured losses. With a combined loss total of $230 billion, 2017 and 2018 represent the most insured losses for two consecutive years.1

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Managing your workers comp class codes can be a challenge. These complex numbers represent an extensive compilation of job descriptions and they vary by state. Many employers end up using incorrect classifications, while others avoid updating them from year to year. However, workers comp class codes play a vital role in regulating insurance premiums and can have a substantial impact on your workers’ compensation policy. They need to be a priority.

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