November 2011

Getting Paid for Extra Paperwork

Are you often asked to fill out health reports for young patients who need them to attend day care programs or summer camp? What about parents who call and request vaccination reports or medical records for their college-bound children? Like other busy practices, your practice may simply handle these types of requests as they arise and regard them as just another paperwork chore that comes with the territory. However, as physicians are being asked to fill out increasingly detailed paperwork for their younger patients, it's not unreasonable to ask to be compensated for the work. Read more...

New Retirement Plan Fee Disclosure Rules

Physicians who provide a 401(k) or other participant-directed retirement plan for their employees should be aware of new rules that mandate the disclosure of plan-related fees and expenses to participants and beneficiaries by the plan administrator. The regulations are meant to ensure that those who can self direct the investment of any of the assets in their individual plan accounts have enough information to allow them to make informed decisions about managing and investing their plan accounts. Read more...

Now Available Online: List of Providers Sent a Revalidation Request

In response to provider requests, CMS has posted a listing of providers who have been sent a request to revalidate their Medicare enrollment information. The listing contains the name and national provider identifier (NPI) of each provider sent a letter, as well as the date the letter was sent. Read more...

Saving for College? Let the State of Indiana Help You!

As year-end approaches, we are helping our clients look for ways to minimize their 2011 income taxes. If you are saving for college for your own children or for grandchildren and you pay Indiana income taxes, let the State of Indiana help you. Section 529 college savings plans are specifically designed to help save for college. Read more...

President Signs Veterans' Jobs Bill

President Obama on November 21 signed into law legislation providing tax credits for employers who hire military veterans and a repeal of the 3-percent withholding tax imposed on federal contractors. The measure is the first portion of President Obama's failed jobs package to receive full bipartisan support in both the House and Senate. Read more...

Somerset Health Care Team News

Strategic Planning Webinar - Save the Date - January 18, 2012, 11:30 a.m. to 1:00 p.m. ET. Details and registration coming soon.

MAS 90/200 ERP Users Group Meeting - December 8, 2011. Please join us for our next MAS 90/200 ERP Users Group meeting. Brian Kinnaman and Gary Peretich will discuss new features in MAS 4.5 and discuss year-end reminders and tips. Details and registration...

American Academy of Orthopaedic Surgeons 2012 Annual Meeting - Mike McCaslin will be presenting "Planning for Life After Orthopaedics" and "Practice Management Symposium for Practicing Orthopaedic Surgeons - Statements and Ratios" at the AAOS 2012 Annual Meeting in San Francisco, CA on February 7, 2012. Details and registration...

Somerset Wherewithal Newsletter. In case you missed it, our Wherewithal newsletter was published recently. This quarter's issue includes the following articles: Safety First in Year-End Tax Planning, Breaking Up May Be Hard to Do, Collect Miscellaneous Deductions at Year-End, Twists and Turns of Charitable Rollovers, Four Key Points About Bonus Depreciation, Do Not Jeopardize Your Retirement. Read more...

Welcome New Associates. We have added several new associates in the past few months--Craig Hittle, Rachel Torkelson, Chris Hirschfeld, Elizabeth Curley, Brandon Lucas, Theresa Pierce, Rex Biggs, Jon Schwander and Craig Todderud. Visit our Somerset News blog to learn more about them...

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