Author Archives: The Boon Group

About The Boon Group

The Boon Group® is a full service employee benefits company specializing in the design, implementation and administration of cost-effective fringe benefit plans for federal, state and local government contractors. Since 1982, The Boon Group has developed a partnership philosophy that expands beyond the products and services we offer. We stand with the employers and employees who, just like all who work at The Boon Group, are faced with the daunting task of navigating the U.S. healthcare system. Together, we can find a better way for all Americans to access healthcare. The Boon Group, Inc. is the parent holding company of The Boon Insurance Agency, Inc., Boon Administrative Services, Inc. (formerly named CEBA), Boon Insurance Management Services, L.P., Health & Welfare Benefit Systems, Inc. and Boon Investment Group, Inc. The Boon Group was formed to support and strengthen the position of these companies as a wholesaler of exclusive products and services. www.boongroup.com

The Difference Between a 401(k) and a 401(a) (And Why It Matters)

I’m sure you’ve heard of a 401(k) as the type of retirement plan most commonly utilized by businesses and employers but what do you know about a 401(a)? Read on to learn more about the difference between a 401(k) and … Continue reading

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What is a Bona Fide Fringe Benefit?

So, you’re entitled to bona fide fringe benefits. What is that? Or maybe you’re an employer double-checking that you are satisfying all SCA benefit compliance requirements? You need to know that your employees are being taken care of! You know The … Continue reading

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SCA: What Is It and How Do You Comply?

Government service contractors everywhere know the looming letters, S-C-A. This small acronym packs a big punch and can have a huge impact on government contractors and their projects. At The Boon Group®, we’re here to support our clients, not just … Continue reading

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The DOL Rule is Mostly Dead, The SEC Proposal is Out There, and The Future is Murky

A death. A failed rescue attempt. An eleventh hour development on the horizon. Who says the world of healthcare is boring!? The attempts of the AARP and three state attorneys general were unsuccessful in reviving the dying Department of Labor (DOL) … Continue reading

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2019 HSA Limits Announced by the IRS

This update is hot off the presses! On May 10, the IRS announced that the annual limit on Health Savings Account contributions will increase by $50 for individuals and $100 for families next year. In 2019, the annual contribution limit for individuals … Continue reading

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Fiduciary Responsibility, Your Third-Party Services Provider, and You

Fiduciary responsibility. Liability under ERISA. Compliance. Seems a little daunting when it’s laid out like that, doesn’t it? As a government contractor it’s important to understand the risks and benefits associated with choosing a third-party provider to administer your benefits … Continue reading

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SEC Proposes its Own Fiduciary Rule

The DOL’s fiduciary rule has been a point of contention in the industry. Many financial groups claimed that the rule was overly burdensome and there was a fear of the rule driving up the cost of providing financial advice regarding retirement. … Continue reading

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