Benefits Buzz

Posted July 8th, 2013 in Individuals, Employers, Producers

Section 3210 of the Affordable Care Act (ACA) required nominal cost sharing to be added to Medicare Supplement Plans C & F. Under the current structure these Medicare Supplement plans eliminate nearly all of the cost sharing that is associated with Original Medicare.

It has been a common belief by many people that Plans C & F cause excessive and unnecessary utilization as a result of the limited cost sharing. The expectation was that Section 3210 would modify Plans C & F to include some form of a front-end deductible to encourage more appropriate uses of physician services.

Posted July 5th, 2013 in Individuals, Employers, Producers

Millions of Americans Countdown to October 1st

Less than 3 months from today marks the start of the 6 month open enrollment period under the Affordable Care Act (ACA). As officials scramble to promote the new healthcare reform enrollment season, we at Flexible Benefit Service Corporation (Flex) have been keeping up-to-date with the fluid changes of rules and regulations contained within the growing law.

Posted July 3rd, 2013 in Individuals, Employers, Producers

The U.S. Department of Treasury announced on Tuesday that the Employer Mandate will be delayed until 2015. This rule is also commonly referred to as the Employer Shared Responsibility requirement or the Pay or Play provision.

The Employer Mandate was set to impose financial penalties starting in 2014 on employers with 50 or more full-time equivalent employees that failed to offer health insurance to employees, as well as those employers that offered health insurance that was considered unaffordable.

Posted June 27th, 2013 in Employers

Now that you have returned to your office after the SHRM 2013 Annual Conference in Chicago, Flex hopes you have gotten a chance to:

• Check your emails
Get some shuteye
• Sort through your goodie bag of giveaways and sales materials
• Add your new HR colleagues on LinkedIn

Posted June 5th, 2013 in Individuals, Employers, Producers

Most health insurance professionals have some familiarity about the government subsidies that will be available next year to eligible individuals. These subsidies will reduce insurance premiums and out-of-pocket medical expenses for those that qualify, and will only be available to individuals that enroll in coverage through health insurance marketplaces, also known as the public exchanges.

Posted May 21st, 2013 in Employers, Producers

Last week, Senator Ben Cardin (D-MD) and Senator Mike Enzi (R-WY) introduced S 9.66, the Medical FSA Improvement Act, to eliminate the Use-It or Lose-It rule by allowing individuals to cash-out unused Flexible Spending Account (FSA) balances with the amounts treated as taxable income.

View the legislative language >>

What could this mean for Americans?

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