Insurance Insights: The Cleary Insurance Blog
The Cleary Insurance blog covers insurance, risk management, and financial planning for New England businesses and individuals. Our team of licensed advisors and specialists publishes regular articles on commercial and personal coverage, employee benefits, life and financial planning, and insurance compliance. Browse recent articles below, or use the category filters to find topics relevant to your business or personal situation.
Volunteers Are Not Covered by Workers Compensation
Many non-profit organizations depend on volunteers for various functions and capacities. In some cases volunteers may be involved in strenuous and physical activities that are crucial for operations. Physical injury to the volunteer is a real possibility. It is important for non-profit organizations to understand that injuries to volunteers are not protected by Workers Compensation.
Workers Compensation insurance is a requirement for businesses and is designed to cover an employee’s medical expenses and lost wages as a result of a work related injury. Volunteers are not considered employees under the Workers Compensation laws for most states.
Volunteer Participant Accident insurance was developed to provide some level of medical, disability or death benefits for volunteers. This coverage will respond to injuries sustained by a volunteer during the course of their work for the non-profit. A wide range of benefit levels and options are available. The insurance is an important consideration for providing a level of protection to the volunteers who make operations possible. Let us know if you would like additional information regarding the product.
At Cleary, we will evaluate your business exposures and work with you to develop a comprehensive plan to safeguard your business. Give us a call today at 617-723-0700
President Signs PACE ACT Changing Small Group Definition
On Oct. 7, 2015, President Obama signed The Protecting Affordable Coverage for Employees (PACE) Act that amends the Affordable Care Act (ACA) definition of a “small employer” for the purpose of purchasing health insurance coverage.
Small Group Market Expansion
Most states have historically defined “small employers” as those with 50 or fewer employees for purposes of defining their small group health insurance market. Effective for 2016 plan years, the ACA expanded the definition of a “small employer” to include those that employed an average of between one and 100 employees. The PACE Act eliminates the ACA’s new definition and gives states the option of expanding their small group markets to include businesses with up to 100 employees.
Summary
Obviously employers with well over 100 employees are not affected by this act, and employers with under 50 employees would generally be considered part of the small group market regardless of these changes. Employers in the range of 50-100 employees will need to consult with their employee benefits advisors and health insurance carriers to determine how this may impact their benefits and rates going forward.
At Cleary, we know how important a comprehensive benefits package can be to your continued success. Give us a call today at 617-723-0700 and we will work with you to create a plan that meets your business objectives, takes into account state and federal laws, and capitalizes on incentives and innovative solutions now being offered.
Newton Electrical Supply
This spring we are pleased to spotlight one of our long time clients, Newton Electrical Supply. We would like to congratulate them as they celebrate their 50th anniversary in the electrical and lighting business!
Newton Electrical has built a great reputation for superior customer service and quality products. They offer their customers a level of service over and above that of their competitors.
In addition to providing outstanding products and service, they are proud supporters of Habitat for Humanity’s ReStore. Their donations help build numerous homes in the surrounding communities.
Congratulation’s Newton Electrical and Happy 50th from your friends at Cleary Insurance. We wish you continued success!