June 19, 2018 Newsletter
AEU Holdings Insolvent – Claims Not Being Paid
How this affects accounts you want to send to collections
The United States Department of Labor has taken a series of legal actions against the AEU Holdings LLC Employee Benefits Plan, as they claim the AEU Plan collected tens of millions of dollars from small employers to pay for health insurance coverage but kept over half of those payments, in fees, leaving over $26 million in unpaid claims.
To protect, to the extent possible, the participants and beneficiaries from litigation and collection actions, the courts have issued a stay pending their final disposition of the action or until further orders from the court.
What does this mean for you?
If you have an account where you know the coverage was under the AEU Plan or Participating Plans, please do not send the account to collections. The order on this was to protect plan participants against such actions, because they did not have any culpability in the matter.
SIG Audit Complete
Audit solidifies data security compliance
Recently, our office completed a Standardized Information Gathering (SIG) audit and received AN A RATING!
The SIG audit is a tool used for risk management assessments of cyber security, IT, privacy, data security and business resiliency in an information technology environment.
We can be proud and our clients can be confident that we are not only compliant but have the necessary policies and procedures in place to protect ourselves and our clients’ information.
Payment in Full: To Cash or Not to Cash
What you need to know before cashing a “payment in full” endorsed check when payment is less than what is due
The question of whether or not a check should be cashed when it is issued for less than what is due but has “paid in full” written on it has come up more often, recently,
To answer this question, we reference a past blog that has been useful to many clients.
Welcome Office Dog, Keeb
Furry friend joins staff
Don’t be surprised if you hear a friendly “ruff” when you call into our office or get a dog biscuit instead of a Pay Day candy bar when we deliver your checks (we’re trying to train him, but he only knows “good job” in the form of dog biscuits).
Not only will Keeb help us with official business, he will provide stress relief and promote positive interactions for our employees.
As one employee stated on Facebook, “Recently the [Vice] President of FSGB has dabbled on the idea of bringing his dog into the work place and I can see an instant change in the overall energy and morale of myself and colleagues. There should be more furry friends mixed within our daily lives including, schools, workplaces, senior living facilities and hospitals.”
We can’t agree more and are thrilled to have Keeb join us at the office! Keep up-to-date on Keeb’s latest happenings, by following us on Facebook!
Upcoming Appearances
Michigan Township Association’s UP North Summit
August 1 – 2 at the Island Resort & Conference Center, Harris, MI
Thought Box
– Mary Kay Ash
