Employers

Posted August 14th, 2018 in Employers, Producers

Flexible Benefit Service Corporation (Flex) offers debit cards as a reimbursement option with several different Health Reimbursement Arrangement (HRA) plan designs.

Posted August 2nd, 2018 in Employers, Producers, Individuals

Last week, the House of Representatives (House) passed two bills which would expand Health Savings Accounts (HSAs) and make other changes to the healthcare industry. Below is a summary of key HSA provisions included:

HR 6311

Posted July 25th, 2018 in Producers, Employers
Recently, the Department of Labor (DOL) finalized new rules pertaining to association health plans (AHPs). The intent of the new rules is to make it easier for small businesses (including self-employed individuals) to join forces when purchasing health insurance coverage.
Posted July 17th, 2018 in Employers, Producers

Many of you are familiar with the reinsurance fees that were charged to health insurance plans from 2014 to 2016, but you may not be as familiar with the risk adjustment program. The risk adjustment program was authorized under the Affordable Care Act (ACA). This permanent program is intended to protect against adverse selection and risk selection in the individual and small group markets (inside and outside of the Exchanges).

Posted June 19th, 2018 in Employers, Producers, Individuals

A lawsuit contesting the legality of the Affordable Care Act (ACA), also known as Obamacare, is starting to gain a lot of attention. Last December, the Tax Cuts and Jobs Act was signed into law. Part of this law made the penalty under the Individual Mandate $0 starting in 2019. Technically the Individual Mandate is still in place, but there will no longer be any penalty under federal law for failing to health insurance.

Posted June 15th, 2018 in Employers, Producers, Individuals

The Tax Cuts and Jobs Act signed into law last year wiped out the federal penalty for not having health insurance (a.k.a. the Individual Mandate) starting in 2019. Some state officials are concerned that the elimination of the penalty could destabilize their local insurance markets, and they have responded with their own Individual Mandate requirements.

Posted June 13th, 2018 in Employers
The Society for Human Resource Management (SHRM) is holding their annual conference and exposition in Chicago from June 17-20. 
 
Posted June 6th, 2018 in Employers, Producers, Individuals
As a part of Flex’s ongoing 30th anniversary celebration, we’d like to introduce you to some of our staff whose hard work and dedication has helped us to reach this important milestone.
 

Meet Larry

 
Larry Cassman is the Sales Manager for Individual and Medicare Sales. He has worked in the insurance industry for 18 years and at Flex for 11. Prior to that, Larry was a Stock Options Floor Trader at the Chicago Board of Exchange. 
 
Posted May 31st, 2018 in Employers, Producers
This month’s Ask the Expert question comes from Jan in Alabama. Jan asks:
 
Is it mandatory that each employee meet with the insurance agent to elect or waive benefits offered through a Cafeteria Plan?
 
It is definitely not mandatory that each employee meet with the insurance agent in order to elect or waive coverage in the plan. There are, however, some best practices that employers can put in place when it comes to enrollment in the plan.
 
Posted May 29th, 2018 in Employers, Producers
The Internal Revenue Service (IRS) recently released Revenue Procedure 2018-34 which includes details about the affordability percentage related to the Employer Mandate for the upcoming year. In 2019, coverage will be considered affordable if the employee’s share of the premium for self-only coverage is no more than 9.86% of their household income. As most employers don’t know the household income of their employees, three alternative safe harbor methods may be used:
 

Benefits Buzz

Enter Your Email

Tag Cloud

Archives