PROVIDING TAILORED BENEFIT SOLUTIONS SINCE 1986

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In our highly competitive economy, being able to offer your employees exceptional benefit packages is a key component in good management. Let MFC Benefits create the perfect customized package for your company.
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   BENEFIT SERVICES

From informational seminars to programs tailored to your company's needs, we offer a wide range of benefit services. Let us help you provide your staff with the benefits they want and need.

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The secret to our success is our team of professional benefits advisors and service representatives. Call us today at 248-663-4765 and we'll design, implement, and service an exclusive benefit package for your business.
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Designing, implementing, and servicing exclusive benefit packages for you and your employees.

LATEST MEDIA

17 Oct, 2024
Learn more about the ACA's Pay-or-Play Affordability Percentage Increases for 2025 and the Mental Health Parity Law. ACA'S PAY-OR-PLAY AFFORDABILITY PERCENTAGE INCREASES FOR 2025 On Sept. 6, 2024, the IRS released the affordability percentage threshold for 2025 plan years under the Affordable Care Act's (ACA) pay-or-play rules. These rules require ALEs to offer affordable, minimum-value health coverage to their full-time employees (and dependents) or risk paying a penalty. For plan years beginning in 2025, employer-sponsored coverage will be considered affordable under the ACA's pay-or-play rules if the employee's required contribution for self-only coverage does not exceed 9.02% of their household income for the year. This is an increase from the affordability percentage for 2024 plan years (8.39%). Due to this increase, applicable large employers (ALEs) may have more flexibility when setting employee contribution levels for the 2025 plan year. The ACA's affordability test applies only to the portion of the annual premiums for self-only coverage and does not include any additional cost for family coverage. Also, if an employer offers multiple health coverage options, the affordability test applies to the lowest-cost option that provides minimum value. Because an employer generally will not know an employee's household income, the IRS has provided three optional safe harbors that ALEs may use to determine affordability based on information that is available to them: the Form W-2 safe harbor, the rate of pay safe harbor and the federal poverty level safe harbor. FINAL RULE STRENGTHENS MENTAL HEALTH PARITY LAW On Sept. 9, 2024, the Departments of Labor, Health and Human Services, and the Treasury (Departments) released a final rule to strengthen the requirements of the Mental Health Parity and Addiction Equity Act (MHPAEA). The final rule is designed to ensure that individuals do not face greater restrictions to obtaining mental health and substance use disorder (MH/SUD) benefits than they would face for medical/surgical benefits. The final rule adds protections against more restrictive nonquantitative treatment limitations (NQTLs), such as preauthorization requirements and network composition standards. For example, the final rule requires group health plans and health insurance issuers to collect and evaluate data related to the NQTLs they place on MH/SUD care and make changes if the data shows they are providing insufficient access. The final rule also establishes minimum standards for developing comparative analyses to assess whether NQTLs comply with MHPAEA's requirements. In most cases, employers rely on issuers and third-party vendors to prepare comparative analyses for their health plans. However, the final rule requires the comparative analyses for health plans covered by ERISA to include a fiduciary's certification that they have engaged in a prudent process and monitored their service providers. The final rule generally applies for plan years beginning on or after Jan. 1, 2025; however, certain key requirements, such as NQTL data requirements, apply for plan years beginning on or after Jan.1, 2026. Provided to you by MFC Benefits, LLC © 2024 Zywave, Inc. All rights reserved Download the PDF copy here. Link: http://chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://content.zywave.com/file/b6f7a224-b3a3-4409-a8f2-953f0994d66a/Benefits%20Buzz%20Newsletter%20January%202024.docx Link: http://chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://content.zywave.com/file/b6f7a224-b3a3-4409-a8f2-953f0994d66a/Benefits%20Buzz%20Newsletter%20January%202024.docx
01 Oct, 2024
Learn more about cholesterol, knowing if you are prepared for a natural disaster, and the mental health crisis hotline. CHOLESTEROL AND YOU Cholesterol is a waxy substance found in your blood that your body needs to build cells; however, too much can pose a problem. Cholesterol travels through the blood on proteins called lipoproteins. There are two types of lipoproteins: 1. Low-density lipoprotein (LDL), known as bad cholesterol , makes up most of your body's cholesterol. High levels of LDL cholesterol can increase your risk for heart disease and stroke. 2. High-density lipoprotein (HDL), known as good cholesterol , absorbs cholesterol and carries it back to the liver to be flushed from the body. More than 40% of U.S. adults with high cholesterol don't know they have it, according to a study published in JAMA Cardiology. High cholesterol usually has no symptoms, so the American Heart Association (AHA) recommends that adults age 20 or older have their cholesterol checked every four to six years. Bad cholesterol can be elevated by age, family history, certain health conditions (e.g., Type 2 diabetes and obesity) and lifestyle factors. While you can't control all those risk factors, you can take steps to lower your risk for high cholesterol with the following lifestyle changes: - Eat a heart-healthy, balanced diet. Saturated and trans fats can increase your cholesterol, so focus on monounsaturated fats (e.g., olive oil, nuts, and avocados) and polyunsaturated fats (e.g., salmon, herring and margarine). Also, limit red meat, fried foods, processed meats and baked goods. - Exercise regularly. The AHA recommends individuals get at least 150 minutes of moderate aerobic exercise each week. Adding resistance exercises to your routine at least twice a week can further help. - Avoid or quit smoking. Smoking tobacco increases LDL cholesterol, decreases HDL cholesterol and can result in cholesterol buildup in one's arteries. - Limit alcohol use. If you consume alcohol, do so in moderation. For men, typically means up to 2 drinks per day, and for women, 1 drink per day. - Maintain a weight that is healthy for you. Having excess weight or obesity can increase your risk of developing high cholesterol levels. A doctor can help determine a sustainable weight management plan. The only way to know whether you have high cholesterol is to check your levels. Visit your doctor for a cholesterol screening and to discuss lifestyle risks. ARE YOU PREPPED FOR A DISASTER? Disasters such as hurricanes, tornadoes, floods and earthquakes can strike with little to no warning. September is National Preparedness Month, making it a good time for you and your household to make a plan if you need to evacuate your home or get trapped inside for days. The Federal Emergency Management Agency (FEMA) recommends discussing the following questions when creating an emergency plan: - How will I receive emergency alerts and warnings? - What is my shelter plan? - What is my evacuation route? - What is my household communication plan? - Do I need to update my emergency preparedness kit? You'll also need to consider your household's specific needs, make an emergency plan and practice it with your family members. These tips pertain to your home, but remember that emergencies can happen anywhere. Visit FEMA's website, Ready.gov, to learn more about preparing for emergencies at home, at work and on the road. Emergency Supply Kit Checklist - Water - Nonperishable food - Flashlight - Whistle - Dust mask - Local maps - Manual can opener - Battery-powered radio - First-aid kit - Pet supplies DON'T FORGET ABOUT THE 988 MENTAL HEALTH CRISIS HOTLINE The 988 Suicide and Crisis Lifeline (988) was launched nationwide in July 2022. Like dialing 911 for medical emergencies, people in emotional distress or suicidal crisis can call and text 988 to connect with counselors who will listen, provide support and connect them to resources. Since 988's launch, counselors have answered over 10 million calls, texts, and chats. Despite the volume, a new poll revealed that only 23% of Americans are at least somewhat familiar with 988. 988 provides immediate and accessible care to anyone experiencing mental health-related distress, including thoughts of suicide, mental health or substance use crisis, or other emotional struggles. It's vital to continue spreading the word about 988. People can also call if they are worried about a loved one who may need immediate support. This article is intended for informational purposes only and is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice. Readers should contact a health professional for appropriate advice. © 2024 Zywave, Inc. All rights reserved. Download the PDF copy here.
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