Benefits Buzz

Posted October 16th, 2012 in Producers

According to a recent release by the U.S. Department of Health & Human Services, the Affordable Care Act will save the average person with traditional Medicare $5,000 through 2022.

Yesterday, millions of people in the U.S. became eligible to shop, compare and reexamine those Medicare plans. This combination of having the opportunity to save a sizeable amount of money during this limited time has lead to the phenomenon commonly known as the “annual enrollment period” or the “open enrollment period”, which sends millions of employees, friends, and family members into a shopping frenzy (this year lasting from October 15 – December 7, 2012).

Posted October 9th, 2012 in Individuals

Don’t let unspent FSA dollars haunt you

It can be scary to think about how much health care costs you and your family. If you have a flexible spending account (FSA), there’s no need to fear. Flexible Benefit Service Corporation (Flex) has conjured up six not so spooky ways to use your FSA before the end of your plan year.

  1. Prescriptions – Don’t be afraid to ask. Your doctor can write a prescription for everyday over-the-counter items.
Posted October 3rd, 2012 in Individuals, Employers, Producers

Flexible Benefit Service Corporation (Flex) recently joined forces with various associations and insurance companies representing employers, producers and insurers to submit comments on the selection of Illinois’ state Essential Health Benefits (EHB) benchmark plan.

The purpose of the consolidated comments was to underscore the importance of affordability of coverage for individual consumers and small employers in Illinois. The target for this effort was the state’s Health Reform Implementation Council (HRIC) Workgroup, who was considering specific factors in choosing the EHB package. The benchmark plan will eventually determine the cost of future premiums and how broad coverage will be for Illinois consumers.

Posted September 26th, 2012 in Employers, Producers

No matter where you end up in life, you never forget where you came from. Flexible Benefit Service Corporation (Flex) was founded and is headquartered in Illinois. For more than 24 years, Illinois has been the foundation of our success. Now we want to pay it forward by helping other local businesses. Flex is now offering a way for the 136,000+ uninsured small businesses in Illinois to provide health benefits to employees. We call it the InsureXSolutions™ private health insurance exchange.

Posted September 18th, 2012 in Employers, Producers

You are a business owner, human resource or benefits professional, or even an insurance broker. You are trying to help run a business or assist another businesses needs. You do not have time to learn all the ins-and-outs of every employee benefits offering or business process that comes across your desk.

You do, however, want to make available an employee benefits package that engages and retains employees, while promoting wellness. And, you keep reading in the news about account-based health plans, namely flexible spending accounts (FSAs), becoming a staple in offerings across the nation – and rightfully so.

Posted September 11th, 2012 in Employers, Producers

InsureXSolutions is a game-changer for some employers!

The much anticipated private health insurance exchange from Flexible Benefit Service Corporation (Flex) has recently launched and it’s creating lots of excitement because of its unique features.

How is InsureXSolutions® unlike other private insurance exchanges?

  1. It promotes a defined contribution funding model for employers to truly manage and cap their costs. This is critically important for employers not currently offering group health insurance. They can now establish a fixed dollar amount for employees without having to worry about participation requirements or other unknown costs.

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