IOA Blog

IRS Reduces 2018 Family Contribution Limit for HSAs

by Isaac A. Cruz, MPA, CWWS, CWWPM, on 3/9/18 4:23 PM

On March 5, 2018, the IRS released its Internal Revenue Bulletin No. 2018-10 announcing a $50 reduction in the maximum amount a family can contribute to its health savings account (HSA) for 2018. Effective immediately, the new 2018 limit for family contributions is $6,850, down from the originally announced amount of $6,900. For individuals, HSA and high deductible health (HDHP) deductible limits remain unchanged for 2018. 

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Topics: health care

Tags: health care

Autonomous Vehicles Bring Disruption and Short-Term Opportunity

by Staff Writer, on 1/16/18 9:00 AM

The safety and stability provided by autonomous vehicles can make insurers question the benefits they provide the industry. A recent study by Accenture and Stevens Institute of Technology estimates more than 23 million autonomous vehicles will be on U.S. roads by 2035. Throughout the next few years as we make this shift, the process for developing insurance premiums must be adjusted to accommodate new technology and capitalize on near-term opportunities.

“Insurers are bracing for long-term declines in auto premiums as new and safer autonomous vehicles gain adoption. However, our research suggests that auto premiums will increase before they decline on this trend, so insurers that can navigate the changing technology environment could win market share,” said John Cusano, global head of Accenture’s Insurance practice.

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Topics: trends future planning producer/broker

Tags: trends, future planning, producer/broker

How to Handle Confidentiality and Nondisclosure Agreements

by Staff Writer, on 1/10/18 12:00 PM

Did you know you could earn almost $100,000 more a year with a different compensation model? Without the fear of losing your book of business and starting from scratch, the transition would be an easy decision. Unfortunately, common roadblocks such as noncompete and nondisclosure agreements can make the transition to a new agency more challenging and risky than most producers would like.

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Topics: future planning profession compensation producer/broker

Tags: future planning, profession, compensation, producer/broker