The census data that KBC requests to prepare your valuation includes individually-identifiable information which is classified by HIPAA as protected health information (PHI). KBC takes the security of your information and PHI very seriously, and we stress the importance of uploading any documents that contain, or may contain, PHI to our secure website. At KBC, we use Citrix Sharefile which …
Safety, Security, Privacy and Confidentiality These are more than words; these are important aspects of KBC’s services. Our employees are thoroughly trained in HIPAA privacy compliance. We use Business Associate Agreements, a secured site for uploading data and cybersecurity features in our emails, computers and servers. We work diligently to protect all data in our care and to assure that …
In today’s world things have changed quickly. The younger generations have turn to social media or computer sites to basically find their information. The information that is found on the sites will then allow the customer to help make a decision in what opportunities they want to pursue. KBC is trying to also keep up with the new ways of …
If you are looking for a proposal for a post employment valuation in 2023, you have come to the right place! When it comes time to obtain a post employment valuation proposal, the process can sometimes become overwhelming. However, Key Benefit Concepts has a process that will help ease “the pain” of the process in 3 easy steps for current …
The census data that KBC requests to prepare your valuation includes individually-identifiable information which is classified by HIPAA as protected health information (PHI). KBC takes the security of your information and PHI very seriously, and we stress the importance of uploading any documents that contain, or may contain, PHI to our secure website. At KBC, we use Citrix ShareFile which …
Christmas and Hanukkah are less than a month away! As we pick up food and decorations for the festivities, we are also thinking of the perfect gifts for friends and family. This year, in particular, we want to make the holidays special. For that reason, we need to pay close attention to the gifts purchased or made for children. Here …
If you are currently funding your post-employment benefits through a Trust or equivalent arrangement, an important item to consider is how much to contribute annually. This, of course, can depend on a number of variables and may rely heavily on what you have budgeted for both the current and future fiscal years. Regardless, your actuary should provide you with an …
Implicit rate subsidy is measured as the difference between an individual’s actual incurred costs for coverage (i.e., total incurred claims) and the premium rate charged to the individual for such coverage. In general, premium rates for a group plan are based on the total expected costs of all participants covered in the group. While, in most cases, each participant is …
Can’t prepare until information is known as of fiscal year end (roll-forward blog already that we can use/update? A common question we get from clients is when they can expect to receive their table updates for the year. As some background, “table updates” are tables provided to you in years when a full valuation is not prepared. Basically, the liabilities …
If you have ever seen your OPEB liability fluctuate dramatically from one valuation to the next, then it’s likely due to one of the following reasons: 1) changes in your OPEB plan design, 2) changes in the actuary’s assumptions, or 3) differences between expected and actual experience. The first and second are pretty self-explanatory in that they are a byproduct …
