October 2014
EMPLOYEE BENEFITS
BUSINESS INSURANCE   
PERSONAL INSURANCE
  Call Potomac Basin Group
 1.800.311.1031
in this issue:
EMPLOYEE BENEFITS
BUSINESS INSURANCE
PERSONAL INSURANCE
talk to the president:
Jim Bendel
President
jim.bendel@potomacbasin.com
talk to sales:
Employee Benefits
John Deem
VP Business Development
john.deem@potomacbasin.com
Business Insurance
Scott Marker
VP Business Development
scott.marker@potomacbasin.com
Property, Auto, Homeowners
Jackie Kociszewski
Personal Lines Manager
jackie.kociszewski@potomacbasin.com
Medical, Dental, Disability, Life
Jackie Kociszewski
Personal Lines Manager
jackie.kociszewski@potomacbasin.com
talk to client services:
Employee Benefits
Sue Davies
Director of Client Services
sue.davies@potomacbasin.com
Business Insurance
Mary Jane Donaldson
Director of Client Services
maryjane.donaldson@potomacbasin.com

visit us at:

www.potomacbasin.com

 

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Employee Benefits
 
IRS Adjusts Applicable Dollar Amount Used to Determine PCORI Fee
 
 
The Internal Revenue Service (IRS) has issued guidance which increases the applicable dollar amount used to determine the Patient-Centered Outcomes Research Institute (PCORI) fee. For plan years ending on or after October 1, 2014 and before October 1, 2015, the fee is $2.08 (multiplied by the average number of lives covered under the plan).
 
PCORI Basics
PCORI fees are imposed on plan sponsors of applicable self-insured health plans for each plan year ending on or after October 1, 2012 and before October 1, 2019.
READ MORE

IRS Updates Q&As on ACA
Information Reporting

Two sets of recently updated Q&As from the Internal Revenue Service (IRS) provide guidance on the information reporting requirement under the Affordable Care Act (ACA). One set of Q&As relates to information reporting by health coverage providers under Internal Revenue Code (IRC) section 6055, and the other set of Q&As relates to reporting on offers of health insurance coverage by employers under IRC section 6056.
READ MORE

Business Insurance
 

Cyber Risk Increasing Daily
 
One System Hack Can Shut Down a Business - One Policy Can Protect It
In today’s data-driven world organizations of all sizes have had a cyber attack or data breach and the average cost to rectify a breach has risen to $5.4 million.  Just one stolen laptop, one resourceful hacker, one virus or even one lost paper record can create enormous financial and reputational consequences for your business. 
READ MORE

Employment Practices Liability Insurance (EPLI)
 
As a small business owner, you need insurance coverage that helps to proactively minimize risks to your business. And, 
if you have employees, you need insurance that helps protect you from employment-related claims resulting from 
alleged or actual acts of:
Discrimination Wrongful discipline
Harassment Wrongful failure to promote
Retaliation Wrongful termination
Violation of the Family Medical Leave Act (FMLA)
READ MORE

Personal Insurance
 
Fall into Savings 
with Potomac Basin Group!
 
 
Common Insurance Myths
 
Myth: Your homeowners policy fully covers your jewelry, fine arts, silverware, or firearms in the event of a claim. 
Fact: Even with a high personal property limit, your homeowners policy contains certain sub-limits for these items, reducing the amount of coverage offered under your policy. 
READ MORE

 

Potomac Basin Group Associates, LLC
4740 Corridor Place Beltsville, Suite B
Maryland 20705
1-800-311-1031

 

03/14 | COR-16696-14