Self Insured Plans Celebrates 20 Years in Naples with Gift to Florida Gulf Coast University

sipAs Florida Gulf Coast University prepares to celebrate 20 years since it opened its doors, Self Insured Plans is celebrating 20 years of serving the Naples business community. In honor of these two auspicious anniversaries, the business has made a $20,000 pledge to FGCU for its Master of Physician Assistant Studies program.

The program, which is now accepting applicants and will launch in the fall, will help fill the need for these in-demand health professionals. The gift from Self Insured Plans will ensure that students with the desire to pursue this career will have the means to do so.

Self Insured Plans is an independent third party administrator specializing in employee benefits administration. It is a family owned business led by Steve Rasnick, its president and founder, and his son, Brian, who serves as executive vice president.

The family has taken an active interest in FGCU, with Brian Rasnick serving as a member of the FGCU Foundation Board and as chairman of the Eagles Club Advisory Board. It is a rare basketball game at which you won’t see the whole family energetically rooting for the Eagles.

“All of us at Self Insured Plans are very proud to celebrate this milestone,” says Steve Rasnick. “We have much to be thankful for and enjoy being involved in and supporting the community we serve. This gift to FGCU is one way to demonstrate our appreciation and our support for the important role the university serves in training the skilled professionals our workforce needs.”

“We are also pleased to be celebrating our 20th anniversary at the same time as this great university to which we have become so attached.”

The Self Insured Restricted Scholarship will award $5,000 for each of the next four years to an FGCU student enrolled in the Master of Physician Assistant Studies Program.

“This program, operated in our College of Health Professions and Social Work, is extremely important, providing a pathway to a career in which demand is growing exponentially,” says Chris Simoneau, vice president for University Advancement. “Partnering with a well-respected company such as Self Insured Plans, which understands the dynamics of health care, is ideal. It’s especially meaningful as both the university and the company celebrate two decades in Southwest Florida.”

Demand for physician assistants is expected to grow by 30 percent from 2014 to 2024, according to the U.S. Department of Labor.

For details, contact Chris Simoneau at (239) 590-1067. To learn more about Self Insured Plans, visit selfinsuredplans.com today.

sip-winter-newsletter

Overtime Rules Tough on Small Business

overtimeNew rules mandated by the Department of Labor could affect many small businesses, driving up labor costs and creating more red tape. These rules, effective on December 1, 2016, raise the salary threshold for eligible workers from $23,660 to $47,476 and to $134,004 for highly compensated employees. This means that salaried workers earning less than $47,476 will now be eligible for time-and-a-half for every hour they work beyond 40 hours per week. While the rules were intended to help millions of workers, they assume that every business will absorb the increased costs and pay overtime, rather than limiting hours for salaried employees.

Research by the National Federation of Independent Business shows that nearly half of all small businesses will be affected by the mandate. NFIB foresees a slowdown in productivity if salaried employees are forbidden from exceeding 40 hours per week. Another concern is that some employees may be converted from salaried to hourly, effectively receiving a demotion.

The rules also include a mechanism to automatically update the salary and compensation levels every three years in order to ensure that they continue to provide useful and effective tests for exemption.

Employers Still Look to Consumer Directed Plans

To combat cost increases that are expected to top 7% this year, many employers are looking at consumer directed health plans for savings. More than half of employers surveyed recently by the National Business Group on Health are increasing the percentage of plan costs paid by employees while 4 out of 10 have increased their in-network deductibles. When it comes to large employers, 75% are offering High Deductible Health Plans (HDHPs) with Health Savings Accounts (HSAs) this year, compared to just over 60% in 2011. Continue reading