"SevenHills Benefit Partners excels at finding the right benefits program to meet our needs. First, they take the time to truly understand our specific situation and then educate us on the pros and cons of each potential solution. We rely and trust their recommendation and advice. But the real value is the service SevenHills Benefit Partners provides after the sale. It is truly value-added."  *

Joanne Stadnik
Executive Director
North Clinic, P.A.


Independence     Service      Guidance

News and Announcements

07/28/17 SevenHills August newsletter



News & Updates for August 2017

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LPRT

SevenHills Benefit Partners News

The National Association of Health Underwriters in June named SevenHills Benefit Parters to the Leading Producers Round Table for 2017.

"Winning this award results from the hard work of our SevenHills staff to provide our clients with great products and quality service," CEO Chris Schneeman said.

NAHU formed the Leading Producers Round Table in 1942 to recognize successful underwriters of Accident & Health Insurance. Today, LPRT is the premier program for top Health, Disability, Long-Term Care and Worksite Insurance producers, Receiving the designation requires meeting or exceeding a series of benchmark measurements.The benchmarks measure new and renewed enrollments across a wide variety of insurance and employee benefits.

"We look at the LPRT award process as a tool to evaluate our processes and services to clients," Schneeman said, "and we want to thank our clients for making this possible."

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CEFEX1


SevenHills named a CEFEX-Certified Advisor

We are pleased to announce that SevenHills Benefit Partners has recently been designated as a CEFEX-certified advisor by The Centre for Fiduciary Excellence. We believe that this designation underscores the commitment we have made to our retirement plan sponsors; that we consistently act in the best interests of our clients and their participants.

A key reason we voluntarily committed to this comprehensive third party review was to increase the confidence you could place in our advisory work for you. Additionally, this designation helps fulfill your plan sponsor fiduciary responsibility to conduct regular due diligence on your service providers, which includes us as your advisor. Please review this short two minute video that explains the benefits of working with a CEFEX-certified advisor: www.youtube.com/embed/xkAJBNZzPR4

The Centre for Fiduciary Excellence, LLC (CEFEX) is an independent certification organization that works closely with industry experts to conduct comprehensive assessments of investment fiduciaries. The mission of CEFEX is to promote best practices in the investment management industry. CEFEX Certification helps determine the trustworthiness of investment fiduciaries. With this certification, you can be confident that our investment due diligence process adheres to fiduciary best practices. Additionally, CEFEX annually assesses our process to ensure we continue to meet always changing fiduciary standards and requirements. SevenHills is one of a small number of retirement plan advisors in Minnesota that is CEFEX-certified.

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State and Local Regulatory Updates

Paid Sick and Safe Leave

Employers with workers who perform their jobs within the city limits of St. Paul and/or Minneapolis are newly subject to recently adopted Safe and Sick Time ordinances in the two cities. In addition, employees who work in Minneapolis will be subject to the newly adopted minimum wage laws.

Click here to retrieve a table that lays out both the St. Paul and Minneapolis ordinances side-by-side. We encourage you to become familiar with its provisions. We suggest you direct any specific questions about these new ordinances to your accountant and attorney, as there is a potential for financial and legal liability for non-compliance.

Minimum Wage Law 

As for the Minneapolis minimum wage increase ordinance, we find the guidance in this article to be helpful. Again, consult with your own accountant and attorney to ascertain how you are affected by the new law. Note that St. Paul is also considering a minimum wage law.

Efforts by the Minnesota legislature to limit the ability of cities to establish these sorts of ordinances failed during the 2017 legislative session. At least for now, other cities are free to create their own version of minimum wage and safe and sick time ordinances.

Federal and State Healthcare Reforms

Trying to figure out what Congress is going to do about healthcare reform is tougher than predicting who will win the Kentucky Derby in 2018. What we can do is assure you that we are watching this closely, and as we get more clarity, we will keep you updated.

Sen.Jensen


Sen. Scott Jensen


At the Minnesota level, we are encouraged by the attention given to state-specific reforms by the State Senate Select Committee on Consumer Access and Affordability. The select committee, which held its first meeting on July 12, is Chaired by Sen. Scott Jensen, a physician who is serving his first term in the State Senate. The committee consists of three Republicans and three Democrats, including Sen. Matt Klein (DFL) who is also a physician.

Sen. Jensen explains the select committee's mission in this YouTube video. Essentially, his committee is looking for ways to reduce the cost of medical care while maintaining or increasing access. The committee plans to meet throughout the Fall and early Winter, and then present a package of reforms during the 2018 legislative session.

We are encouraged that lawmakers are studying this important issue and looking for ways that we Minnesotans can adopt good public policy to meet our expectations, regardless of what Congress does.

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HR Elements Available for Review

In case you missed it earlier this month, you can click here to review the UBA HR Elements newsletter here. It features information about employee relations, technology, wellness and a summary of other relevant news.

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Employee Handbooks Seminar - Mark Your Calendar

Thursday, September 14 - 11:30-1:15 PM

River Room - Town and Country Club

Registration information will be provided at a later date.

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Chris Schneeman | SevenHills Benefit Partners | 651.209.9810 |

Pensionmark® Financial Group, LLC ("Pensionmark") is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark is affiliated through common ownership with CapFinancial Securities, LLC (member SIPC).




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