Category Archive

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 …

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 …

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 your health or dental plan is self-insured, then you know that there are some key differences in comparison to a fully insured plan. For public school districts in Wisconsin that self-insure their sponsored health or dental plans, there is one other emerging requirement. Wisconsin Statute §120.14 and the Wisconsin Department of Public Instruction (DPI) state audit guidelines require that …

Key Benefit Concepts (KBC) provides several unique actuarial services including attestation of self-insured health and dental plan financial soundness and/or adequacy of incurred but not reported (IBNR) reserves. Wisconsin Statute §120.14 state audit guidelines that school district audits should include information concerning the school district’s self-insured health and dental plans. Specifically, a footnote with a date of actuarial certification attesting …

There are many different benefit vehicles available through employers for their employees depending on the type of entity. One specific benefit vehicle is a 403(b) or Tax-Sheltered Annuity (TSA). According to the Internal Revenue Service, a 403(b) or TSA plan is a retirement plan offered by public schools and certain charities and is similar to a 401(K) plan maintained by …

Changes implemented through the Affordable Care Act (ACA) limit an employer’s ability to provide an HRA to active employees ONLY in conjunction with the employer’s health insurance plan.  However, an employer is not restricted to providing an HRA for employees once employment is severed. Remember the employer is the only one allowed to design and fund the HRA plan and …