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The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.

ACA’s Pay or Play Affordability Percentage Decreases for 2024

ACA’s Pay or Play Affordability Percentage Decreases for 2024

September 14, 2023
On Aug. 23, 2023, the IRS released the affordability percentage threshold for 2024 plan years under the Affordable Care Act’s (ACA) pay or play rules. For plan years beginning in 2024, 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…
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7 Factors Driving Commercial Property Insurance Costs

7 Factors Driving Commercial Property Insurance Costs

September 14, 2023
Several cost-driving trends have contributed to the hard commercial property insurance market. This environment has led to continuous rate increases and other challenging conditions. In these circumstances, it’s crucial for businesses to understand why premiums have been rising. This article discusses seven factors currently impacting commercial property insurance costs. Contact Ollis/Akers/Arney Insurance & Business Advisors…
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Hiring Trends Are Pushing Employers to Focus on the Employee Experience

Hiring Trends Are Pushing Employers to Focus on the Employee Experience

August 25, 2023
Employers have been forced to navigate and respond to several challenges over the last few years, including the COVID-19 pandemic, a tight labor market, rising health care costs, inflation and a potential recession. These challenges have pushed many organizations and their employees to their limits. According to a recent survey from management consulting firm McKinsey,…
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Auto Claims Inflation Speeds Ahead of Premium Increases

Auto Claims Inflation Speeds Ahead of Premium Increases

August 24, 2023
Insurance claims inflation has risen faster than the underlying consumer price index (CPI), outpacing auto insurance premium increases, according to a new study, Auto Insurance: The Uncertain Road Ahead, by the American Property Casualty Insurance Association (APCIA). The national trade association for home, auto and business insurers added that the combination of rapidly increasing overall economic…
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Inflation’s Impact on 2024 Open Enrollment

Inflation’s Impact on 2024 Open Enrollment

August 20, 2023
Many employees continue to feel financially strained because of inflation. With open enrollment fast approaching, inflation could impact the choices employees make when it comes to their benefits. Specifically, employees are likely to consider which benefits matter the most and how to optimize the money they spend on those offerings. As a result, this year’s…
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What Employers Should Know About Popular Weight Loss Drugs

What Employers Should Know About Popular Weight Loss Drugs

July 23, 2023
The popularity of weight loss drugs has reached a fever pitch in the United States. This trend has made its way into the workplace, with employees increasingly asking their employers about coverage for popular drugs used for weight loss, such as Wegovy. Other drugs intended to treat Type 2 diabetes, such as Ozempic or Mounjaro,…
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2023 Cyber Insurance Midyear Market Outlook

2023 Cyber Insurance Midyear Market Outlook

July 8, 2023
Increasing threat vectors and growing attacker sophistication have consistently driven up cyber incidents in recent years, causing a rise in cyber insurance claims and related losses. Alongside unprecedented segment growth, such challenging market conditions led to most insureds experiencing steep rate hikes, additional underwriting scrutiny and various policy restrictions— particularly pertaining to coverage for ransomware,…
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Pamela Hamilton - ESOP Interview Spotlight

Pamela Hamilton – ESOP Interview Spotlight

June 21, 2023
1. How do you think being part of an ESOP can affect work culture? I feel the ESOP provides a positive impact on work culture because each one of us have a stake in the overall performance of the organization. We are not simply working for “the man,” we are working for one another, regardless…
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Beth Kensinger - ESOP Interview Spotlight

Beth Kensinger- ESOP Interview Spotlight

June 4, 2023
How does being in an ESOP impact your day-to-day perspective / tasks? This is truly a team effort perspective. My efforts & abilities affect all other ESOP participants, so I have to put forth my best collaborative effort every day in order to achieve the best possible outcome for all. How do you think being…
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U.S. Senate Sends Debt Ceiling Bill to White House

U.S. Senate Sends Debt Ceiling Bill to White House

June 4, 2023
On June 1, 2023, the U.S. Senate passed the Fiscal Responsibility Act of 2023 to raise the debt ceiling by a bipartisan vote of 63-36 only three days before the United States risked defaulting on its debt for the first time. The U.S. House of Representatives approved the bill on May 31, 2023, by an…
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