Benefits Buzz

Posted December 2nd, 2020 in Producers, Individuals

On November 6, 2020, the Centers for Medicare & Medicaid Services (CMS) released the 2021 premiums, deductibles and coinsurance amounts for the Medicare Part A and B programs. Below is a summary of some of the key cost components:

Posted November 25th, 2020 in Producers

The Flex General Agency is excited to welcome Bright Health into our individual product portfoli

Posted November 18th, 2020 in Employers, Producers

The Affordable Care Act (ACA) created two reporting requirements which are spelled out in Internal Revenue Code Sections 6055 and 6056.

Section 6055 requires every provider of minimum essential coverage to report information of those employees and dependents who enroll in coverage. Reporting this information to the Internal Revenue Service (IRS) is still required even though the Individual Shared Responsibility penalty (i.e. Individual Mandate) is $0.

Posted November 10th, 2020 in Employers, Producers, Individuals

The Supreme Court of the United States (SCOTUS) is scheduled to hear oral arguments about the constitutionality of the Affordable Care Act (ACA) today. The underlying issue to be heard is whether the elimination of the Individual Mandate penalty now invalidates some, all, or none of the law. One of the following outcomes is likely to occur:

Posted November 5th, 2020 in Employers, Producers

When’s the last time your FSA or HRA administrator exceeded your expectations? Are you tired of dealing with claims issues, customer service let-downs, and unhappy employees? You need a better benefits administrator.

As a trusted benefits administrator for over 30 years, Flex offers employee benefit programs and compliance services built with employers in mind. We’ve got the tools and resources that employees want, along with the service and support employers need.

Posted November 3rd, 2020 in Employers, Producers, Individuals

The Internal Revenue Service (IRS) released Rev. Proc. 2020-45 on October 26th with 2021 inflation adjustments for various provisions of the Internal Revenue Code (the “Code”). Included in the announcement are maximum contribution limits for Flexible Spending Accounts (FSAs) and other employee benefit programs. A summary of some of the 2021 contribution limits has been provided below.

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