Benefit Summary and the Importance of being Accurate!

Key Benefit ConceptsAbout Us, Actuarial

Actuarial valuations of post-employment benefits are an important tool for your auditor to complete your financial statements and are required under specific GASB statements. In order for us to provide the most accurate valuation, it begins with the initial steps of the valuation process. The first step in preparing a proposal for a new post-employment valuation is confirming the benefit …

Protected Health Information (PHI)

Key Benefit ConceptsActuarial, Services

What is Protected Health Information (PHI)? In 2023, it is important to protect your information. Protected Health Information or PHI, is individually identifiable health information held or transmitted in any form or medium by HIPAA covered entities and business associates, subject to certain limited exceptions. Some examples of PHI can include: names, addresses, social security numbers, driver’s license numbers, insurance …

The Further Breaking Down of Census Data!

Key Benefit ConceptsActuarial, Services

Although a census data request from your actuary for an upcoming Other Post-Employment Benefits (OPEB) valuation may seem straightforward at first glance, it is not always so clear-cut. It may be early February, but the valuation date is 6/30. What date should the census data be as of? Do you include part-time or seasonal employees? If someone is expected to …

What is a Consultant?

Key Benefit ConceptsAbout Us, Services

In 2023, being a consultant implies that you are proficient in your field and are willing and able to guide and assist others in your area of expertise.  Many people call themselves consultants but may lack the knowledge, experience or ability to assist and guide others in an efficient and effective manner. We take that term seriously.  Being an actuarial …

Waukesha County Fair 2023!

Key Benefit ConceptsAbout Us, Standard

Waukesha County Fairgrounds KBC is only 10 Minutes from the city of Waukesha. Waukesha is home the Waukesha County Fair. This year the fair is taking place July 19-23, 2023. The fair grounds are located next to the Waukesha County Airport at the Waukesha Expo Grounds. Tickets are around $10 for Adults and there are admission bundles to save money. …

H.S.A. Health insurance plans and the Individual Health Savings Account

Key Benefit ConceptsActuarial, Services

H.S.A. Health insurance plans and the Individual Health Savings Account An H.S.A. stands for Health Savings Account.  A health savings account is a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. There are several requirements that must be met to be eligible to open and fund an H.S.A. …

Health Savings Account Changes for 2024

Key Benefit ConceptsAbout Us, Actuarial

Health Savings Account Changes for 2024 Recently, the Internal Revenue Service released the 2024 health savings account (HSA) limits.  Below is a comparison of the current limits and the new limits for 2024.   2023 2024 HSA Contribution Limits Self-Only: $ 3,850 Family: $ 7,750 Self-Only: $ 4,150 Family: $ 8,300 For those age 55 or older: HSA catch-up contributions …

Going to a Conference in 2023?

Key Benefit ConceptsConferences, Standard

Key Benefit Concepts is involved in many conferences throughout the year of 2023! KBC enjoys being affiliate members of many government employer associations.  We look forward to sponsoring, attending, speaking and most of all having booth at conferences throughout the United States.  Why?  Because we get an opportunity to spend time with our favorite people – our clients – in …

Ad’s are Important!

Key Benefit ConceptsAbout Us, Actuarial

When posting an Ad on a Social Media site or on the website/conference site we might be attending. It is important to find a theme. If it is a specific Holiday or if the conference is related to an event or style. Finding the right background is key. Wither the Ad is going to be bright or colorful or If …