In order to ensure that the Trust continues to be governed by dedicated, knowledgeable members, it is expanding its pool of qualified future trustee candidates. Several appointed committee member positions are available to CalCPA members who are currently participating in a ProtectPlus medical plan. Due to the complicated nature of the Trust, ideal candidates are from firms with 15 or more employees, who can be reasonably expected to remain in active practice and serve the Trust for many years. Candidates are appointed for a two-year term and may be reappointed for a second two-year term. Appointed committee members sit on committees of the Board and attend four committee meetings and one board meeting per year. Appointed committee members are eligible for the same level of employer reimbursement compensation as trustees, and all out-of-pocket expenses are reimbursed.

If you are interested in applying, please send your resume with a cover letter of introduction to: Susan Young, executive director, The Group Insurance Trust, 1235 Radio Road, Redwood City, CA 94065-1217.

The first of these changes involves a new carrier for group life and long-term disability (LTD) insurance with lower rates and improved service. The second features a broad range of new options for purchasing individual life insurance and LTD policies that will make comparison shopping easier. Both of these changes have been negotiated through the combined efforts of the Group Insurance Trust, CalCPA management, and Hover Insurance Services, Inc. of Santa Rosa. Hover, a new provider to the Trust and CalCPA, will also be responsible for portions of program management. The third and final piece in this series of initiatives is a new money-saving discount program offered through CalCPA’s Affinity and Value Added Benefits Programs.

Group Life and LTD

Effective October 1, the Trust’s group life and LTD plans will move from The Hartford to Lincoln Financial Group. The switchover is automatic for currently enrolled firms. More good news will show up in the form of reduced premiums, which will vary according to firm size. In addition, billing for these policies will change from the current quarterly period to monthly. This means it will be easier to add new hires as they become eligible and to remove terminated employees without having to pay for a full quarter. You can keep your quarterly payment schedule, if you prefer, by simply paying for three months at a time. The credit will be applied to future invoices. If you have other insurance benefits through the Group Insurance Trust, you will have the added convenience of consolidated billing for all of your Trust policies.

In addition to the money savings and convenience offered by the Lincoln Financial group plans, the group life and LTD plans also come with valuable program enhancements. The group life plan features TravelConnect, offering a wide variety of travel-related services, and BeneficiaryConnect, with free grief counseling, memorial planning help, and other relevant services. EmployeeConnect, offered to those in the group LTD plan, is a confidential support program with in-person, phone, or online guidance and counseling.

Firms currently enrolled in the Group Life or Group LTD plans through The Hartford, will receive a letter explaining the change and the new rates and billing procedures. Additional information regarding the new Group Life and LTD plans can be found on the CPAProtectPlus website. However, if you have questions about these or any other benefit plans, do not hesitate to call Banyan Administrators at (877) 480-7923 or email cpaprotectplus@banyan-llc.com.

For firms not currently enrolled, this is a great time to consider these benefit plans because Lincoln Financial is offering an extended rate guarantee that locks in rates through September 2014.

Individual Life and Disability

A new personal insurance program, available through MiQuotes, provides all members of CalCPA with easy online access to competing quotes for term life, return of premium term life, and permanent life policies. The same site also provides access to quotes for disability income insurance. The program is available only to members of CalCPA and you must login to your member account to access the MiQuotes website for CalCPA members.  You can also read more about these new benefits on the CPAProtectPlus.com website.

Once on the MiQuotes site you can get instant life insurance quotes from several competing companies and choose the policy that works best for you. The site also contains an online quote form for disability insurance with variables for salary amount, length of coverage, and waiting period. After you have submitted the form, a specialist will contact you to discuss the coverage. The agent may have more questions or simply want to go over the quote with you. Be assured that the agent calling is not there to make a sale but to help you navigate the details and help you get the most competitive policy for your circumstances.

Individuals who are currently insured through the ING affinity life program will be unaffected. They may, however, find it worthwhile to explore the options available at MiQuotes.

New CalCPA Discount Plans

While on the MiQuotes website, take a moment to check out two discount programs that are available to all CalCPA members. A discount pharmacy card, free for the asking, is available that can be used at WalMart, CVS, and Walgreens among many others. There is also a program with small application and monthly fees giving discounts on a wide variety of products and services including pet care, hearing aids, legal services, and more than 2,000 golf courses.

“It may be a cliché,” says Stu Weinstein, chair of the Group Insurance Trust Claims and Plan Design Committee, “but I have gotten a lot out of my relationship with CalCPA as member, and so serving as a trustee, and finding products and services that benefit members, is a great way to give  back.” To this he adds, “Its enjoyable to be associated with something as successful as the Group Insurance Trust has been.”

In addition to his spirit of service, Weinstein also embodies a broad range of professional experience that helps him understand the circumstances of different members. Having graduated with a degree in accounting from the University of California, Berkeley in the late 1960s, Weinstein started his career with a large regional accounting firm where he served until receiving his license. From there he moved to a consulting firm and then to a job as controller in McKesson Corporation’s International Division.

He comments that this experience was a unique opportunity

“to observe the  inside of a business from the client’s perspective, something that many CPAs don’t get a chance to do.”

He was fascinated to see how an enterprise is built, how people are responsible for the bottom line, and how they report to others. He was also engaged by the process of building appropriate controls. At the end of the day, however, he found the work repetitive, and he turned back to public accounting with renewed interest.

He joined his father, who had been working as a solo CPA, in forming Weinstein & Company, where he stayed until 1999. At that point he found himself ready for a more corporate structure and moved to Rooney, Ida, Nolt and Ahern, which had just opened a San Francisco office. He liked the fact that they had separate departments with specialties and that clients were shared.

This structure also meant that his clients had a place to stay as he transitioned into retirement during the years from 2005 to 2007. Currently he still provides occasional services as a consultant and also continues as a director of CAMICO Mutual Insurance Company.

As far as the GIT is concerned, however, he is very much engaged by the challenge of providing price competitive insurance services that most public sector members couldn’t get on their own.

“There is excitement,” he says, “in working on flexible plan designs that work well for small as well as large firms. The test is to create plans that people can afford while providing as many options  as possible.”

He is proud of the high level of service members receive and pleased at the broad geographic coverage provided by Anthem Blue Cross. The fact that the GIT’s only stakeholders are its member-employers makes it easier to achieve these goals.

As chair of the Claims and Plan Design Committee he is concerned with the marketing of the entire program as well as the details of its many plans, and he has advocated the addition of more marketing and sales options for ProtectPlus, including the use of a general agency and its associated brokers.

“This option allows us to reach more potential members than simply using the direct distribution option that has been used since the Trust was founded. In a profession with an aging population, one way to continue to keep costs down, is to reach out to more members so that our overhead  costs are shared over a broader base.”

For the future, he hopes to see more member firms enroll in ProtectPlus.

“Most firms who take the time to explore the GIT options find that it is a very competitive program, frequently better than what they have in place.”

About this Change
Susan Young, executive director of the Group Insurance Trust commented,

In light of Seabury’s long service to the Trust, deciding to move our account wasn’t easy. However, in seeking the best possible service for our members, we wanted to take advantage of Banyan’s skills.

Starting November 1, 2009, Banyan will be responsible for the following:

• Customer service
• Billing
• Payment processing
• Record-keeping
• Marketing support
• Receiving and accounting for participant contributions
• Maintaining records of eligible participants
• Preparing financial reports for GIT staff and trustees
• Banyan will also process all enrollment and change applications
• Maintain an interface with Anthem Blue Cross
• Help new firms and new employees set up their accounts, and manage employee eligibility

For many ProtectPlus members, of course, the primary and often the only point of contact with the plan administrator is when they call or email with a question. Banyan brings to this customer service role a history of serving 220 organizations and group plans beginning in 1994, including other MEWAs (Multiple Employer Welfare Arrangements) in its home state of Pennsylvania that have similar needs and concerns as the Group Insurance Trust. Scott Fair, executive vice president of Banyan, is very clear about “how important customer service interactions are in presenting the face of an organization.”

Banyan Customer Service Center
The Banyan customer service center is staffed by Banyan representatives—all  are licensed brokers—who are there to answer your questions whether by phone or email. Moving all these services to a higher level, Banyan brings with it a high degree of technological sophistication, so that relevant information will be more quickly and easily accessible. For a benefits  administrator this can mean resolving an eligibility issue online, and for Trust staff, the ability to monitor plan performance more closely.

More Advanced Technology
“Banyan has the ability to track data and follow member questions in a way  that ensures questions and concerns are resolved in a timely fashion,” says Judy Graziani, director of marketing. “Additionally, the Banyan customer service system can quickly identify a returning caller, access historical case notes, and provide prompt assistance whether for a new or existing service inquiry. No more need to provide annoying repetition of the details of an on-going issue.”

Judy Graziani notes,

Another great feature of the Banyan system is that it gathers data on issues that arise frequently. This information will allow the Trust to make more informed decisions regarding plan benefits and service issues.

Improved Services
Fair emphasizes a number of new and/or improved services that will be implemented over the coming months including “both online, multi-media presentations and mailings to help members understand their choices.” Stressing his firm’s technical capacities, he also mentions that they will  be creating more online capabilities.

For instance, Banyan will be introducing web services that allow a benefits manager to access and update the firm’s account, and firms will even have the ability to transfer some of these responsibilities to individual employees if it so desires. As an added benefit to human resource departments, Banyan has contracted with the Bureau of National Affairs to make available a host of online reference and legal materials to participating ProtectPlus firms at no extra charge.

Starting November 2
You can contact Banyan Administrators with any questions regarding eligibility, billing, or customer service issues. In addition, Banyan Administrators customer service representatives will be available to answer any questions;

Customer Service: (877) 480-7923
Fax (877) 237-4519, or
Email: cpaprotectplus@banyan-llc.com.

Mailing Address:
Banyan Administrators, LLC, Program Manager for the CalCPA ProtectPlus Programs
1215 Manor Drive, Suite 200,
Mechanicsburg , PA 17055.

You may choose to offer your employees almost any combination of the CalCPA ProtectPlus plans. This exclusive coverage is a great enticement for attracting and retaining top-level talent to your firm.

Here is a quick look at our plans.

To find the plan that be fits your needs, please use our Plan Selector Tool.

• Protect 10 $10 copay, 10% coinsurance, 
individual deductible $250/Family $500. More details

• Protect 15 $15 copay, 20% coinsurance, Individual deductible $250/Family $500, the first 6 in-network office visits per calendar year are exempt from annual deductible. More details

• Protect 25 $25 copay, 30% coinsurance, Individual deductible $500/Family $1,000,the first 6 in-network office visits per calendar year are exempt from annual deductible. More details

• Protect 35 $35 copay, 40% coinsurance, Individual deductible $500/Family $1,000, the first 6 in-network office visits per calendar year are exempt from annual deductible. More details

• Protect 45 $45 copay, 50% coinsurance, no in-network deductible. More details

• Protect HSA 1500 $1,500 Individual deductible $1,500/Family $3,000, 30% coinsurance, $4,500 Individual out-of-pocket maximum. More details

• Protect HSA 2500 $2,500 Individual deductible $2,500/Family $5,000, -0- coinsurance, $2,500 Individual out-of-pocket maximum. More details

• Protect HSA 2850 $2,850 Individual deductible $2850/Family $5,650, 30% coinsurance, $5,500 Individual/ out-of-pocket maximum. More details

• HMO Value 80 $15 copay, no deductible, 20% coinsurance for most covered expenses. More details

• HMO Advantage 100 $10 copay, no deductible, no additional charge for most covered expenses. More details

• Additional Web Features on CPAProtectPlus.com
• Brainshark Multimedia Online Presentation
• Detailed Administrative Guide Released
• Annual Enrollment Communications

The Trust is committed to continually improving the ProtectPlus member experience and the quality of the CalCPA ProtectPlus programs. The administrator transition will allow ProtectPlus program members to take advantage of a host of new and enhanced services, including:

• Simplified enrollment processes
• Improved program invoice design
• Enhanced communication capabilities – new web features; dynamic, multi-media presentations
• Streamlined administration leveraging web-based technology
• Online HR and Benefits reference materials

ProtectPlus Members
Your Annual Enrollment materials will be mailed to you on November 2, 2009 and will include new plan contact information.

Changes to CPE Requirements Effective for Jan. 1, 2010 License Renewals

The California Board of Accountancy is amending the section of the California Code of Regulations that governs continuing education and license renewal for CPAs to place ethics education at the forefront of the profession; ensure licensees maintain a high level of competency and remain abreast of the continually changing tax laws and professional standards throughout the entirety of the licensure period; and ensure licensees continue to receive exposure to the laws and regulations governing the practice of public accountancy in California.

All licensees renewing a license in an active status will be required to complete:

• Four hours of ethics CE every renewal period
• A two-hour regulatory review course every six years covering the California Accountancy Act, plus CBA regulations and enforcement actions
• A minimum of 20 hours of CE (with a minimum of 12 hours in technical subject matter) each year of the two-year license renewal period as part of the 80-hour
• CE requirement.

CBA Reinstates CE Audit Program
The CBA’s Renewal and Continuing Competency Unit is reinstating its continuing education audit program to ensure that licensees are complying with CE requirements as specified in the CBA regulations. Licensees will be randomly preselected during the license renewal process and notified of the audit approximately 90 days prior to their license expiration date.

If renewing a license in an active status, licensees will be instructed to submit documents (i.e. certificates of completion) substantiating completion of a minimum of 80 hours of CE reported at the time of renewal, which will be verified against the CE Reporting Worksheet accompanying the renewal application.

Licensees will be able to submit documentation either in hardcopy or electronically.

Licensees are required to retain CE certificates of completion for four years after renewal, and Professional Conduct and Ethics certificates of completion must be retained for six years.

For all CPE you take through the CalCPA Education Foundation, an electronic certificate of completion is stored with your online CPE record.

To continue reading this article, and for additional educational materials visit CalCPA.org

Learn more about CPA ProtectPlus healthcare plans