SilverBlog

Wisdom from our industry experts and our SilverLink magazine.

 
 
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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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Amid the current Coronavirus pandemic, the U.S. (and much of the world) has been asked to practice social distancing. Many employers are doing their part by encouraging or mandating remote work. While some employees have experience working from home and will transition easily, many will need guidance.

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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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The IRS has released cost of living adjustments affecting retirement plans. The adjustments and changes affect the limits applicable to all employees who defer salary into retirement plans, plans that are integrated with Social Security, the maximum benefit payable from defined benefit plans and the maximum annual additions for defined contribution retirement plans. For your convenience, SilverStone Group has summarized the changes as follows:

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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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