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QUESTION: We are considering changing our company’s major medical plan from fully insured to self-insured. Are we required to purchase stop-loss insurance? Can you briefly describe how stop-loss insurance works in connection with a self-insured health plan? ANSWER: Stop-loss insurance is not required for self-insured plans, but many employers find it beneficial to help manage the financial risks of self-insuring by protecting the employer/plan sponsor in the event of catastrophic claims.
Recently, a lender (who now has become a client) came to us looking for a second opinion on a valuation of a Massage Envy Franchise. Their appraiser came back with a negative value conclusion which centered around deferred gift card liabilities transferring with the sale. We took a step-by-step review of the business and how these liabilities are treated when determining the value of the franchise.
The treasurer is one of the people in finance who is sitting on the largest amount of data, and this is not likely to stop, as his role is growing. How do you make good use of this data and what are the pitfalls you have to face? Like salmons in rivers, we need to swim upstream to find the best way to optimize this incredible but too often untapped asset.
A recently published article by UC Davis School Law Professor Afra Afsharipour, “ Women and M&A ,” shows that of the 20 firms handling the most significant public M&A transactions from 2014 to 2020, Cooley is the only firm with equal gender representation in leading roles across such deals. “The outlier position is a testament to how our M&A team has led the practice – and the industry – with grit and talent over many years,” said Joe Conroy, Cooley’s chairman and chief executive off
Speaker: Susan Spencer, Principal of Spencer Communications
Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.
M.S. v. Premera Blue Cross, 2021 WL 3511094 (D. Utah 2021). Available at [link]. A self-insured health plan denied coverage for a minor child’s residential mental health treatment, finding that the treatment was not medically necessary. The child’s family sued the plan, plan administrator, and claims administrator for (1) denial of benefits under the terms of the plan, (2) violation of the Mental Health Parity and Addiction Equity Act (MHPAEA), and (3) violation of ERISA’s disclosure requiremen
The issuance of green muni bonds is a small part of the overall muni bond market, but the segment is growing. In 2012, $2 billion of green munis were issued, but that grew to $234 billion in 2020 and a projected $375 billion in 2021. Although green corporate bonds can be used for a variety of investments, green muni bonds are often used to fund clean power, water, and sewage systems.
FAQs About Affordable Care Act and Consolidated Appropriations Act, 2021 Implementation Part 49 (Aug. 20, 2021). Available at [link]. The DOL, HHS, and IRS have issued FAQ guidance (Part 49) on implementation of the transparency in coverage (TiC) regulations and overlapping transparency provisions in the Consolidated Appropriations Act, 2021 (CAA).
FAQs About Affordable Care Act and Consolidated Appropriations Act, 2021 Implementation Part 49 (Aug. 20, 2021). Available at [link]. The DOL, HHS, and IRS have issued FAQ guidance (Part 49) on implementation of the transparency in coverage (TiC) regulations and overlapping transparency provisions in the Consolidated Appropriations Act, 2021 (CAA).
Schwartz v. ADP, Inc., 2021 WL 3172029 (M.D. Fla. 2021). As part of a larger employment action involving allegations of wrongful termination, wiretapping, and unfair trade practices, a former employee sued his employer for not providing a COBRA election notice when he was terminated. The employee alleged that without the notice, he was unable to make an informed decision on health insurance coverage, which caused him to lose coverage and to postpone having a baby.
Not all companies think about indirect tax automation in the same way, and different companies are at different stages in their technological journey. According to the 2021 State of the Corporate Tax Department report by Thomson Reuters Institute only one-quarter of the companies surveyed already have robust indirect tax automation tools and practices in place, while others are just beginning their tax digitalization journey.
To build a persuasive business case for sales tax software , professionals need to explain how automating certain tax functions and improving reporting and analysis will benefit the company as a whole. Greater efficiency, more accuracy, and better analytical capabilities are all wonderful talking points, but they don’t support an investment for sales tax software.
China has recently asserted more control over private companies in that country. Now, the SEC is threatening to not approve new company listings for companies based in China and possibly delist currently listed NYSE and Nasdaq companies based in China. Most Chinese companies do give direct ownership, but often use the variable interest entity structure (VIE).
Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker
The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l
If you are not familiar with a Ponzi scheme , it is generally a fraud in which early investors are paid out from contributions made by later investors. The Ponzi scheme usually ends when new investments dry up. A recent article on CFO.com highlights how to avoid a Ponzi scheme. We would like to make sure you read one particular concept, that is, "high returns with little or no risk.
Fidelity Investments recently hired Gilbert Haddad to head the company's decision science area. The data gathered from the new initiative is ".really like applying behavioral finance and behavioral science to understand” what the portfolio managers and analysts are good at or not. The data will also be used to "help them understand their own biases" in the investments made by the manager to help them avoid bad behavioral decisions.
If you’ve been paying attention to market news lately, non-fungible tokens (NFTs) and blockchain technology are dominating headlines. There is always something new and something changing. As tax and accounting professionals, your clients turn to you for advice on how to navigate these modern financial trends and changes. Understanding NFTs is a necessary step to understanding how to help your clients and how to adapt your practice.
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