TSG Financial Blog

Posted by Debbie Gluzband on May 11th, 2017

TSG Financial's Home Care Specialty Group has been very busy attending public events and making connections! 

We were proud sponsors and exhibitors at the HCA Annual Conference, held in Saratoga, NY. The annual event's theme was "Rediscover, Reimagine, Reinvent Home Care" and we thought it would be fun to take an 'out of this world' approach! TSG Financial wants to show how we can provide a fresh perspective in home care, and we had a great time making new connections.Thank you so much if you visited our booth at the event!


And we didn't stop there! On May 5th, Michael Probst attended the CT Association for Healthcare At Home's Florence Wald Annual Hospice Conference in Wallingford, CT., which provides strategies to improve end-of-life care across the continuum. 

As always, TSG Financial strives to stay ahead of the curve by staying educated on current issues facing your business. 

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Posted by Debbie Gluzband on May 9th, 2017

OVERVIEW

On May 4, 2017, members of the U.S. House of Representatives voted 217-213 to pass the American Health Care Act (AHCA), after it had been amended several times. The AHCA is the proposed legislation to repeal and replace the Affordable Care Act (ACA).

The AHCA needed 216 votes to pass in the House. Ultimately, it passed on a party-line vote, with 217 Republicans and no Democrats voting in favor of the legislation. The AHCA will only need a simple majority vote in the Senate to pass.

If it passes both the House and the Senate, the AHCA would then go to President Donald Trump to be signed into law.

IMPACT ON EMPLOYERS

The AHCA will now move on to be considered by the Senate. It is likely that the Senate will make changes to the proposed legislation before taking a vote. The AHCA would only need a simple majority vote in the Senate to pass. However, unless the AHCA is passed by the Senate and signed by President Trump, the ACA will remain intact.

LEGISLATIVE PROCESS

The AHCA is budget reconciliation legislation, so it cannot fully repeal the ACA. Instead it is limited to addressing ACA provisions that directly relate to budgetary issues—specifically, federal spending and taxation. A full repeal of the ACA must be introduced as a separate bill that would require 60 votes in the Senate to pass.

Since the AHCA was introduced, it has been amended several times. To address concerns raised by both Democrats and fellow Republicans, the House Republican leadership released amendments to the legislation on March 20, 2017, followed by a second set of amendments on March 23, 2017. On March 23, 2017, House leadership withdrew the AHCA before taking a vote. After the withdrawal, Republicans made additional amendments (the MacArthur amendments) to the AHCA, followed by a separate corrective amendment. A new House vote was scheduled for May 4, 2017, which resulted in a 217 to 213 vote to pass the AHCA.

The AHCA will now move on to be considered by the Senate. It is likely that the Senate will make changes to the proposed legislation before taking a vote. The AHCA would only need a simple majority vote in the Senate to pass. However, unless the AHCA is passed by the Senate and signed by President Trump, the ACA will remain intact.

ACA PROVISIONS NOT IMPACTED

The majority of the ACA would not be affected by the AHCA. The MacArthur amendments specifically maintain most of the ACA’s market reforms. For example, the following key ACA provisions would remain in place:

  • Cost-sharing limits on essential health benefits (EHBs) for non-grandfathered plans (currently $7,150 for self-only coverage and $14,300 for family coverage)
  • Prohibition on lifetime and annual limits for EHBs
  • Requirements to cover pre-existing conditions
  • Coverage for adult children up to age 26
  • Guaranteed availability and renewability of coverage
  • Nondiscrimination rules (on the basis of race, nationality, disability, age or sex)
  • Prohibition on health status underwriting

Age rating restrictions would also continue to apply, with the age ratio limit being revised to 5:1 (instead of 3:1), and states would be allowed to set their own limits. The MacArthur amendments also reinstate EHBs as the federal standard, eliminating a prior controversial amendment to the AHCA, although states may obtain waivers from these rules.

This ACA Compliance Bulletin is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.

© 2017 Zywave, Inc. All rights reserved.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial, Risk Strategies Company and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

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Posted by Debbie Gluzband on May 2nd, 2017

The Family and Medical Leave Act (FMLA) is a federal law that provides eligible employees of covered employers with unpaid, job-protected leave for specified family and medical reasons. For example, under the FMLA, eligible employees may take leave for their own serious health conditions, for the serious health conditions of family members, to bond with newborns or newly adopted children or for certain military family reasons.

In addition to providing eligible employees with an entitlement to leave, the FMLA requires that employers maintain employees’ health benefits during leave and restore employees to their same or equivalent job positions after leave ends. The FMLA also sets requirements for notices, by both the employee and the employer, and provides employers with the right to require certification of the need for FMLA leave in certain circumstances.

The FMLA is enforced by the Department of Labor’s (DOL) Wage and Hour Division. 

LINKS AND RESOURCES

  • The DOL’s FMLA web page, which includes links to the DOL’s model FMLA forms
  • The DOL’s FMLA poster
  • The Employer’s Guide to the FMLA, a publication of the DOL’s Wage and Hour Division

 

COVERED EMPLOYERS

The FMLA applies to:

  • Private-sector employers with 50 or more employees;
  • Public agencies, including state and federal employers; and
  • Local educational agencies.

 

ELIGIBLE EMPLOYEES

An eligible employee is one who:

  • Works for a covered employer;
  • Has worked for the employer for at least 12 months;
  • Has at least 1,250 hours of service for the employer during the 12-month period immediately before the FMLA leave; and
  • Works at a location where the employer has at least 50 employees within a 75-mile radius. 

This Compliance Overview is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.

© 2001, 2008-2016 Zywave, Inc. All rights reserved.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial, Risk Strategies Company and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

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Posted by Debbie Gluzband on Apr 17th, 2017

Since 2004, the United States has recognized April as Financial Literacy Month, a time set apart to focus on the knowledge and skills needed to ensure financial well-being across all stages of life. Why concentrate on financial literacy?

If you’re reading this, you’ve attained at least a mastery of financial basics. And you strive to stay abreast of the latest developments in the financial world. But much of society hasn’t mastered the basics. That matters, especially if you have children or grandchildren. You can’t assume they’ll achieve financial literacy through school.

A 2015 report by Champaign College’s Center for Financial Literacy on financial education in the U.S. found only five states deserved an A; “26 states received grades of C, D or F. Twenty-nine percent of the states had grades of D or F.” Those are not the kind of grades you want to see on your child’s report card. By the time they graduate from high school, most students still don’t have a basic grasp on finances or how to budget. They also don’t understand the financial aid process, credit, loans or inflation. What’s worse, mastery of financial knowledge doesn’t seem to improve over time. A 2016 Fidelity Investments study found 37 percent of college professors felt they were beginners when it came to investing.

Financial literacy should start at home. While money and finances should be a part of family discussions, one survey indicated parents spent about the same amount of time talking about money management as about the facts of life. In other words, not a lot. Yet making financial decisions can easily be woven into the fabric of everyday life. Include children and grandchildren in financial decisions at the store. Give them a small budget and have them decide what to purchase. Discuss their choices and point out the good and not-so-good about each one. Let them earn their allowance. Teach them to allocate a percentage of their allowance to immediate spending, savings and charitable giving.

Raising financially literate children and grandchildren contributes not only to their own personal future but also toward a healthy U.S. economy. Some experts say that a lack of financial literacy across society in part led up to the Great Recession.

To learn more about talking to your kids or grandchildren about money matters, contact our office. Leaving a legacy of financial literacy is as important as bequeathing tangible assets. Working together, we can make this legacy a reality.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial, Risk Strategies Company and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

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Posted by Debbie Gluzband on Mar 27th, 2017

OVERVIEW

On March 24, 2017, Republican leadership in the U.S. House of Representatives withdrew the American Health Care Act— their proposed legislation to repeal and replace the Affordable Care Act (ACA).

A House vote was scheduled to take place on that day, but House Republicans could not secure enough votes to approve the legislation and, instead, canceled the vote. As a result, the ACA will remain in place at this time 

IMPACT ON EMPLOYERS

Because the House was unable to pass the American Health Care Act, the ACA remains current law, and employers must continue to comply with all applicable ACA provisions.

President Donald Trump has indicated that he would not continue to pursue an ACA repeal if the American Health Care Act could not be passed. Both President Trump and House leadership have stated that they now intend to focus on other issues. Despite this, Congress may choose to pursue their own ACA repeal and replacement in the future.

LEGISLATIVE PROCESS

Two separate bills that make up the American Health Care Act were released in response to a budget resolution passed by Congress on Jan. 13, 2017. The budget resolution is a nonbinding spending blueprint that directs House and Senate Committees to create federal budget “reconciliation” legislation. To become law, budget reconciliation bills must go through the legislative process. However, a budget reconciliation bill is generally filibuster-proof, and can be passed by both houses with a simple majority vote.

A full repeal of the ACA cannot be accomplished through the budget reconciliation process. A budget reconciliation bill can only address ACA provisions that directly relate to budgetary issues—specifically, federal spending and taxation. A full repeal of the ACA must be introduced as a separate bill that would require 60 votes in the Senate to pass.

Debate on the American Health Care Act began on March 8, 2017. To address concerns raised by both Democrats and fellow Republicans, the House Republican leadership released amendments to the legislation on March 20, 2017, followed by a second set of amendments on March 23, 2017. The House vote was originally expected to take place on March 23, 2017, but was delayed for one day, until March 24, 2017.

Following the announcement that the House vote would be delayed, President Trump stated that he would not continue to pursue an ACA repeal if the House could not pass this legislation. As a result, the ACA will remain in place at this time. However, Congress may choose to pursue their own ACA repeal and replacement in the future.

This ACA Compliance Bulletin is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.

© 2017 Zywave, Inc. All rights reserved.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial, Risk Strategies Company and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

 

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Posted by Debbie Gluzband on Mar 22nd, 2017


Contact us to learn more ways to save money on health care.

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Posted by Debbie Gluzband on Mar 22nd, 2017

Though it may seem like a difficult feat, you can still maintain your diet while enjoying a meal out with friends and family. Since restaurants, especially fast food chains, tend to serve meals with more fat, salt and sugar than a meal prepared at home, it is important to understand what foods to avoid and which ones to select from a menu.

In general, steer clear of these foods while dining out:

  • Condiments such as salad dressings, cheese sauces, tartar sauce and gravy
  • Butter and cheese
  • Fried foods such as chicken or french fries
  • Beverages such as regular soda, whole milk and alcoholic drinks

One of the most important proactive approaches to healthy eating while you are out to eat is to watch your portion sizes. Restaurant portions are typically double what you would normally eat at home. Either request a smaller portion of the desired meal or ask the wait staff to wrap up half the meal right away and take it home to eat the next day.

Most importantly, don’t get discouraged. Everyone has their off-days, and just because you have one bad day doesn’t mean that you have to give up or overcompensate by starving yourself the next day or pushing yourself too hard in the gym.

This article is intended for informational purposes only and is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice. Readers should contact a health professional for appropriate advice.

© 2017 Zywave, Inc. All rights reserved.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial, Risk Strategies Company and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

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Posted by Debbie Gluzband on Mar 14th, 2017

DID YOU KNOW?

Becoming health care literate can be complicated. Knowing your benefits and their costs can be a daunting task for anyone.

In fact, being health care literate might be even harder than you think.

  • More than 1 in 3 Americans (77 million people) have difficulty with common health tasks, like reading a prescription drug label or making a wise health care decision.
  • Low health literacy is estimated to cost the United States $106 billion to $238 billion annually and accounts for 7 to 17 percent of all personal health care expenditures.

Source: U.S. Department of Education’s National Assessment of Adult Literacy (NAAL)

This article is intended for informational purposes only and is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice. Readers should contact a health professional for appropriate advice.

© 2017 Zywave, Inc. All rights reserved.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial, Risk Strategies Company and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

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Posted by Debbie Gluzband on Mar 8th, 2017

Are you following TSG Financial on Twitter and LinkedIn? Here's what's happening on our social media:

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Posted by Debbie Gluzband on Mar 6th, 2017

According to a recent Motley Fool article, the average U.S. citizen carries eight credit cards in their wallet, which begs a question regarding the optimal number. The answer probably varies with your objectives and circumstances.

If you’re most concerned about maintaining a high FICO™ score, the number of cards isn’t as important as other factors. While Fair Isaac Corporation, the company that assigns the scores, doesn’t divulge the exact formula it uses, it shares factors considered with their respective weights:

  • Payment history: 35 percent
  • Amounts owed: 30 percent
  • Length of credit history: 15 percent
  • Credit mix: 10 percent
  • New credit: 10 percent

Having a small proportion of debt compared to available credit helps your score. Having six cards and owing $2,000 is better than having one card with a $3,000 limit and a $1,500 balance – provided you make payments on time. Fair Isaac says your FICO can suffer a little once you acquire more than seven revolving debt accounts. And opening too many new cards in a short period can particularly ding it.

Using multiple cards makes tracking spending more difficult. But even if you don’t use many of your cards, you still need to monitor them to make sure the bank didn’t add or increase an annual fee or someone hasn’t used them fraudulently. An alternate way to improve your ratio with fewer cards is to periodically ask your credit card company to increase your limit by a few thousand dollars.

In addition to lowering your debt-to-available-credit ratio, closing accounts can knock points off your length of credit history. For this reason, you should try to keep a few cards open long-term, especially any you had before you got married. (It’s important to keep some accounts that only have your name on them.) You may need to use cards periodically so the company doesn’t cancel them. If you close an account, talk to a live operator and specify you want the account closed “at the cardholder’s request.” A closed account’s positive information will stay on your report from seven to 10 years.

For more information on monitoring your accounts and credit history or for tips on protecting your finances, please give our office a call.

Want more information? Call us today at (516) 747-3355 to learn how to sign up for newsletters from TSG Financial.

TSG Financial LLC is a Financial Services company located in Garden City, NY. Securities offered through Securities America, Inc. Member FINRA (www.finra.org)/SIPC (www.sipc.org). Advisory services offered through Securities America Advisors, Inc. TSG Financial, Risk Strategies Company and Securities America are separate entities. Securities licensed in: AZ, CA, CO, CT, DE, FL, GA, IL, IN, IA, KS, LA, MD, MA, NJ, NY, NC, OH, OR, PA, SC, TX, UT, VA, DC . The third-party comments displayed are not verified, may not be accurate and are not necessarily representative of our client experience.

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