Determining an employee’s Insurance Deduction Calculations isn’t always a lot of fun. They say, “It’s math, not magic!” But some days it feels like you need magic to make the math work! Although on occasion tedious and daunting, making sure calculations are correct is essential for both employee and employer. Deduction calculation adjustments happen at… Read more »
Posts By: seth
HR & Benefits FAQ
Below are several items you will want to have noted somewhere for internal purposes. Here is where you might find them internally: 1. What is your corporate structure, EIN, and date of inception? a. Someone in accounting or senior leadership, old tax documents, or old insurance or 401k applications may have this data. b. You… Read more »
Who is CU Insurance Solutions (CUIS)
CU Insurance Solutions (CUIS) is a Maine-based CUSO insurance agency specializing in Lending, Member, Employee Benefits, and Commercial Insurance and Protection programs. As a CUSO, we are governed by a board of managers comprised of 9 credit union professionals who represent our credit union member-owners. Our current owners comprise 48 Maine credit unions, as… Read more »
Deduction Calculations
Article by Elizabeth Ingram VP of People Strategy – CU Insurance Solutions Determining an employee’s Insurance Deduction Calculations isn’t always a lot of fun, but making sure they are correct is essential for both the employee and employer. Deduction calculations happen at renewal time (before and after), as well as any time an employee comes… Read more »
Employee Benefits Nondiscrimination Testing
If you offer any pre-tax employee benefits, you need to have a Section 125 (also known as a POP or Cafeteria Plan) in place. These benefits may include your medical, dental, vision, life, disability, voluntary benefits, FSA, HRA, or more. After your plan year ends each year,* you need to complete non-discrimination testing for your… Read more »
The Case for Maxing Out Your HSA
Article by Elizabeth Ingram Vice President of People Strategy, CU Insurance Solutions I tell people more often than I probably should, that the one change I would have made to my benefits early in my career, would have been to max out my HSA sooner. At the time, I was young, didn’t really understand what… Read more »
Home Energy Conservation and Efficiency Tips
Article By: Trevor Pietila Accounting Specialist With Inflation in 2023 hovering around 6%, we are all feeling the impact on our finances. The price of homes, vehicles and food have gone through the roof. As we head into another New England winter, budgeting for the rising energy costs is a big concern. Here are some… Read more »
Financial Wellness Tips & Resources for Employees and Individuals
Article by Elizabeth Ingram Vice President of People Strategy, Insurance Trust Benefits Offerings (Ideas for Employers) This fall we’re in the process of budgeting as well as a transition to a new business structure which means that we’re also taking a close look at all of the benefits we offer. As an employer, it’s important… Read more »
When was the last time you visited your local library?
Article by: Ruthie Noble Member Lending Account Manager – CU Insurance Solutions When the internet burst onto the world two decades ago, some said libraries as we knew them, were doomed, but they adapted and continued to be essential in their communities. Libraries evolved again in the middle of a world health crisis. With… Read more »
Consumerism Tips for Medical/Dental Debt/Collections Reporting to Collection Bureaus
Article by: Pam Huntington Employee Benefits Specialist – CU Insurance Solutions I have been in the health insurance arena for many years now, but in one of my prior roles, I was a Collections Manager at a credit union. It was staggering to see the amount of credit reports with medical debt collections. The stark… Read more »