Chamber Welcomes Pediatric Specialty Care to Danville With Ribbon Cutting

The Chamber helped welcome Pediatric Specialty Care- Medical Day to the area on Monday, November 16th, with a ribbon cutting in Danville. Attendees had the opportunity to meet with the staff, learn about the services offered, and enjoy some tasty food and refreshments from fellow member, Craft Catering.

Pediatric Specialty Care- Medical Day, located at 15 Wesner Lane in Danville is a specially developed pediatric medical daycare that meets the needs of medically fragile children, offering skilled nursing in a safe and nurturing environment while promoting a child’s growth, development, and socialization.  To learn more about Pediatric Specialty Care- Medical Day, visit its website, and Facebook page.  

Plan Fiduciary Responsibilities During the COVID-19 Pandemic

The Employee Retirement Income Security Act of 1974 (ERISA) requires that plan fiduciaries act with “care, skill, prudence, and diligence” when managing retirement plans.  This includes acting only with the interests of participants and their beneficiaries in mind, keeping plan expenses to a reasonable level, following the terms of the plan’s governing documents, and ensuring that the plan’s investments are diversified.  There is no question that the COVID-19 pandemic has presented a unique set of challenges for plan fiduciaries.  However, plan fiduciaries should not expect audit relief from the IRS or DOL, nor should they expect relief from litigation risk. As a result, plan fiduciaries may want to identify the steps they have taken and the decisions they have made to adjust their processes in the face of the pandemic. 

Following are several items to consider:

  • Reach out to the plan’s service providers to verify the provider’s ability to handle, and adjust to, the economic and societal disruption(s) caused by the pandemic. This may include inquiries about the service provider’s business continuity plans, investment continuity, and/or delays in plan reporting.
  • Review the plan’s investment lineup. During this time of uncertainty, it may be appropriate for plan fiduciaries to review the plan’s investments/funds to consider whether they remain prudent in the current market environment. It may also be a good time to execute more frequent or more detailed monitoring of the performance of the plan’s investments, especially if the markets experience further volatility.
  • In defined contribution plans many participants are seeking long-term financial security. However, there may be participants (e.g., those nearing retirement) that are focused on the short term. Plan fiduciaries may wish to reach out to their consultants and other advisers to evaluate whether the investment options on the more conservative end of the lineup offer sufficient income preservation opportunities.
  • Provide participant education/communication that is meaningful and helpful given the circumstances. If the markets continue to experience volatility, both the plan participants and the plan fiduciaries will benefit from an increased focus on educating participants to empower them to make decisions that best suit their investment and retirement goals.
  • Continue to hold plan committee meetings and engage in an appropriate level of plan oversight. Committees may need to adjust their processes in light of the new virtual and work from home environments.  More frequent meetings may also be necessary during this time of disruption and volatility.
  • The pandemic may cause an increase in fraud-related activities due to economic disruption and an increase in electronic communications. Plan fiduciaries may want to evaluate the adequacy of the plan’s fraud protection mechanisms (i.e., those that protect participant information and participant assets).  This could involve inquiring about the plan’s service providers and/or conducting a formal audit to evaluate how participant information is protected and what mechanisms exist to protect participants from identity theft and fraudulent benefit payouts.

Employers may be tempted to place their plan fiduciary duties on hold or even decide to discontinue their plan oversight responsibilities due to COVID-19. However, with the economic volatility and uncertainty that continue to affect plans, quality fiduciary oversight is needed now more than ever.

For more information about McKonly & Asbury’s Employee Benefit Plan services, or for questions regarding this article, please contact Stephanie Kramer, Manager with McKonly & Asbury, at [email protected]. And be sure to register for our upcoming webinar – Employee Benefit Plans Industry Update – taking place on Thursday, November 19 at 2:00 p.m. for more in-depth information on this topic. You can learn more and register by clicking here.

Member News- November 11, 2020

Free Laser Cataract Webinar


On November 17th, Eye Care Specialist will be offering a free Laser Cataract Webinar from 6-7 pm to learn more about exciting new FDA approved technology that can help you gain great vision in the distance, intermediate and close- without the need for glasses after cataract surgery.  Register here for the webinar.

 

 

 

Montour Area Recreation Commission 2021 Lawn Care Invitation to Bid Application Terms and Conditions

Sealed bids for lawn care at the various properties managed by the Montour Area Recreation Commission (MARC) will be received by MARC at any time until 11:00 am on Monday, November 23, 2020. Bids will be publicly opened and read aloud during MARC’s regular November 23, 2020 meeting at 7:00 pm through the Zoom online meeting platform.

Specifications and bid forms may be obtained online at www.MontourRec.com or by submitting a request in writing or by telephone or email to:

Montour Area Recreation Commission PO Box 456, Danville, PA 17821 570-336-2060 or [email protected]

Each bid must be enclosed in a sealed envelope, plainly marked with ‘2021 Lawn Care Bid’, and mailed via the U.S. Postal Service to MARC at the address listed above. Sealed bids may also be hand-delivered to MARC on Monday, November 23, between 8:00 am and 11:00 am, at the Montour Preserve visitors’ center, 374 Preserve Road, Danville, PA 17821.

Bids may be withdrawn by bidders for any reason for a period of forty-eight (48) hours after the time of bid opening. After forty-eight (48) hours from bid opening, bids may not be withdrawn for a period of sixty (60) days.

WHLM Parade of Lights

PennDOT has approved the permit for the WHLM Parade of Lights so it will be held Friday, November 27th at 6:00 p.m. Registration is not required this year. The 2020 WHLM PARADE OF LIGHTS will illuminate Downtown Bloomsburg with classic cars, floats, boats, fire trucks, thousands of Christmas lights, and usher in the Christmas season when Santa Claus comes to the only Town in Pennsylvania! The parade route forms at 4:30 PM at the Geisinger Bloomsburg parking lot on Lightstreet Road, then moves at 6 PM down Main Street to Market Street, and ending at the Bloomsburg Firehall.

Additional details are at https://www.whlm.com/whlm-parade-of-lights


No-Cost Leadership Development Webinar

The Northeastern Pennsylvania Industrial Resource Center (NEPIRCwould like to extend an invitation to attend our live webinar on Leadership Development. This two-hour event is complimentary and is an excellent way to kick-start your leadership development initiatives.
The Leadership Development program helps individuals become stronger, more impactful leaders. While joining other managers and supervisors to discuss workplace challenges, attendees will explore topics that include self-awareness, power & authority, risk & failure and leadership style. Using self-assessment tools and experiential learning, attendees will examine their strengths and weaknesses while exploring best practices of exceptional leaders.

This seminar will be held on the following dates from 8 to 10 a.m.:
Monday, December 21st, 2020 
Tuesday, December 22nd, 2020

Attendees will receive the webinar link via email one to two days prior to the event.

To register, please visit nepirc.com/events.  Space is filling up quickly, so register today!

Telehealth Use Surges as a Result of COVID-19

From My Benefit Advisor

Although the severity and extent of the COVID-19 pandemic has been unprecedented in modern times, there are safeguards built into the structure of the insurance industry that are designed to maintain stability during significant loss events.  Two key elements provide protection against large financial loss for insurance companies and provide some stability in premiums:

  • Claim Reserves
    Insurance regulations require carriers to maintain a claim reserve account at specified levels (based on the company’s size and risk profile) that provides a safety net if claim expenses are larger than anticipated.  These reserves are funded through a part of the premiums charged to policy holders.

  • Reinsurance
    Reinsurance is coverage purchased by an insurance company from a third-party insurer that is designed to insulate them from major claims events.  If claims, either individually or collectively surpass designated levels, the reinsurance carrier would reimburse the insurance company for a part of the claim cost.

Additionally, the severity of the virus has varied in different regions of the country.  As a result, insurance carriers will be affected differently based on the specific demographics of their insured populations.  Carriers with large numbers of insureds in some of the country’s hotspots will experience greater claim expenses than carriers insuring greater numbers of insureds in minimally impacted regions.

Impacts from Employer-Related Expenses:
Insurance carriers are also employers and as such, have experienced some of the same pandemic-related business costs as any other business.  Added cybersecurity costs, outlays for equipment and software to facilitate their employees alternative work arrangements, etc. will impact their financial bottom line during this event.   Even the downturn in equity markets will affect the expected level of return on their investment portfolio.

Positive Impacts:
There is also the potential that some recent virus-related development will positively impact insurance costs, such as the more widespread use of tele-health services.  In addition to providing access to care with lower costs, on a long-term basis this development could allow healthcare providers to extend their reach to more remote or less affluent groups of people to expand access to care and improve overall population well-being.

Considering all of these pandemic influences, it is likely that future health insurance premiums will be affected, although the expected range of impact is not clear. 

The Columbia-Montour Chamber of Commerce offers its members access to My Benefit Advisor as a solution for employee benefits, including voluntary offerings. For more information about My Benefit Advisor, visit our website at cmcc.mybenefitadvisor.com or contact Jim Pitts at (800) 377-3539.

Paycheck Protection Program Webinar to Provide Updates

As developments continue to emerge on the Paycheck Protection Program (PPP), McKonly & Asbury Partners, David Blain and Mark Heath are back to provide a status update on where we are and to highlight continued changes that are proving to make for interesting times.

During this webinar, David and Mark will review two recently identified Loan Necessity Questionnaires – SBA Forms 3509 and 3510 – and discuss who it impacts, information requested, and what this means for the loan forgiveness process. They will go on to talk about SBA Form 3508S, a forgiveness application for those with loans less than $50,000, as well as lessons learned to date on loan forgiveness calculations including FTE calculations, qualifying payroll, and other costs.

During this webinar, participants will receive:

  • Up-to-date guidance and analysis on new forms and changes proposed by the SBA regarding loan forgiveness.
  • Further clarity on items specific to loan forgiveness calculations to better position your loan for expedient forgiveness.
  • Insight into what the future might hold for the Paycheck Protection Program post-election.

This free, one-hour-long webinar will take place on Thursday, November 12 at 2:00 p.m. One “Other – Advisory” CPE credit is available for this webinar. The level for this CPE is intermediate and a basic knowledge of the PPP Loan program is helpful for attending. This program is a live webinar which offers the opportunity to ask questions and interact with the presenters.  Register here.