ACA Update – January 2015
Important Affordable Care Act Reminders for January 2015
- If you have employees who are not eligible for your group coverage and they currently do not have coverage, they may only enroll in individual coverage during open enrollment which ends February 15th. This is true both on and off the Marketplace this year.
- Please remember that the penalty for not having coverage increases this year (2015) to the greater of $325/adult ($162.50/child) or 2% of household income. You can have a coverage gap of up to 3 months (as a yearly total) without incurring this penalty.
- The 2014 tax forms for individuals includes a box asking if you had health care coverage last year. You must check this box if you had coverage so that you aren’t penalized. Carriers will not be sending a form showing proof of coverage to members this year, but a form will be required from carriers for 2015 taxes. The 2014 penalty for not having coverage is the greater of $95/adult ($47.50/child) or 1% of income.
Please consult your tax advisor if you have further questions regarding the 2014 tax forms.
For questions, please contact:
Elizabeth Ingram
Account Manager, Employee Benefits
CU Insurance Solutions
Phone: 800-287-3379 x 312
info@insurancetrust.us
New Director of Training
CU Insurance Solutions is pleased to announce the selection of Randy Judkins to become their new Training Director. A native Mainer, Randy brings a unique set of skills and experience to this position. Since 1975 he has performed his one person, multi-character original show in over 25 states, Canada and Europe. Throughout his career, Randy has created topical pieces for schools and businesses, has been a professional speaker, performance coach, visiting artist in residence and created educational and corporate programs focused on team building, leadership skills and change management.
In 2001, Randy founded the Maine Hysterical Society – a sketch comedy and singing trio. He has also been a script and character consultant for Tri-Star Pictures, a juggling and high wire trainer for “Circus of the Stars” in Hollywood, and the Master of Ceremonies for the (Patrick) Dempsey Challenge Hope and Healing Banquets in 2009 and 2010.
Randy has been a teaching artist in numerous school systems throughout Maine and New England. Other educational assignments have included adjunct theater faculty member at USM, instructor of clowns at the Ringling Brothers Barnum & Bailey’s Clown College, master classes in ‘creating physical character’ at Juilliard School of Drama in NYC and a professional tour guide in Acadia National Park.
As Training Director for CU Insurance Solutions and its subsidiaries, Randy will have responsibility for coordinating, managing and disseminating all web-based and live training programs for CU Insurance Solutions’s credit union clients. He will work closely with various strategic partners to facilitate program and product education as well as create and administer other creative training programs designed to enhance the business relationship between CU Insurance Solutions, its subsidiaries and their business partners and clients.
Spring 2015 Lending School with Brett Christensen
CU Insurance Solutions and CUAlliance are pleased to announce our Spring Lending School taking place on March 16-17, 2015 at The Westin Portland Harborview Hotel in Portland, ME. This event is part of our ongoing Insurance Trust University training initiative and twice annual live lending school workshops. This focused and informative training program will be split into two 1-day sessions presented by Brett Christensen.
Brett is the owner of CU Lending Advice, LLC. As such, he works directly with credit unions in the U.S and Canada teaching and consulting on various lending topics to professionals that work in the credit union industry. His personal and entertaining speaking style has also made him a popular and sought out speaker in the credit union industry.
Below is an outline of the topics that Brett will cover in each of the two sessions:
Monday, March 16, 2015
CEO & Management Training
Designed for CEOs, Management and aspiring lending managers to receive knowledge that will improve their department’s overall lending and sales results with a focus on the following topics:
- Loan Department Productivity and Efficiency
- Loan Product & Rate Design
- Loan Delivery Channels
- Loan Department Organization
- Loan Policy Provisions
- Should you utilize a centralized or decentralized lending operation?
- Indirect Lending
- Successful Collections
- Sales Culture Development
Tuesday, March 17, 2015
Loan Officer and MSR Training
Designed for loan officers, member service representatives and all lending professionals looking to refresh their lending expertise; this session will cover lending’s critical essentials and best practices for lending success with a focus on the following topics:
- Lending is an Attitude!
- Every Member is Unique
- Learning to Tailor Your Approach in the Loan Interview
- Improving Individual Sales Skills
- Selling Ancillary Insurance Products
- Building Performing High-Risk Loans in the Interview
- The “Firm Close”
- Communicating Denials
- A Review of FICO Credit Scores
- Approaches you Should Use When Underwriting
- Debt Ratio Analysis
- Loan-to-Value Analysis
- Secured & Unsecured Guidelines
- Total & Unsecured Debt Ratio Analysis
- Debt Consolidation Loans
- Real Risk Factors vs. Not-so-Real Risk Factors
Both CU Insurance Solutions credit union clients and non-clients are welcome and encouraged to attend. For registration info please complete our contact form or call Barbara Christy at 207-773-0925