Employers

Posted November 13th, 2013 in Producers, Employers

The U.S. Department of Health and Human Services (HHS) has announced that self-funded health plans will be exempt from the reinsurance fees after the first year. The recent announcement is expected to be published in a forthcoming document with other rule modifications. 

Posted November 7th, 2013 in Producers, Employers, Individuals

The U.S. Department of Treasury recently issued guidance announcing a significant change relating to Healthcare Flexible Spending Accounts (FSAs) that has many positive implications. The Department of Treasury has modified its “use-it-or-lose-it” provision to allow a limited rollover of unused Healthcare FSA funds. Effective immediately, employers that offer a Healthcare FSA program without a grace period have the option of allowing employees to rollover up to $500 of unused funds at the end of the 2013 plan year. 

Posted November 6th, 2013 in Producers, Employers, Individuals

Flexible Benefit Service Corporation (Flex), the exclusive operator of the InsureXSolutions® private insurance exchange, would like to take a moment to mention last week’s exciting new partnership with the largest broad-based business association in Illinois, the Illinois Chamber of Commerce.

The new Illinois Chamber Benefits Exchange, powered by InsureXSolutions provides small employers the opportunity to control costs and lay a foundation for their employees to obtain affordable health insurance.

Posted October 31st, 2013 in Producers, Employers, Individuals

Individuals are required to project their income for 2014 to determine the maximum subsidy that may be available to them through a public exchange to help reduce their insurance premiums

If it turns out that an individual projected their income incorrectly, and the premium subsidy they received was too much, then the individual will have to pay back a portion or the entire subsidy amount when they file their federal income tax return. 

Posted October 30th, 2013 in Producers, Employers, Individuals

By this time most of us are starting to become familiar with the subsidies that are available to eligible individuals that enroll in coverage through the Health Insurance Marketplace, also known as the Exchange. Many of us have also heard the phrase:

“If your household income is within 400% of the Federal Poverty Level you may qualify for a subsidy in the Exchange.” 

This seems simple to understand on the surface, but this statement is packed with terms that require further definition. We’ve put together a summary to help you understand some of the key pieces of information within this statement.

Posted October 29th, 2013 in Producers, Employers, Individuals

The InsureXSolutions® private insurance exchange, operated by Flexible Benefit Service Corporation (Flex), has launched new resources which can be found at insurexsolutions.com.

There is no need to wait.

Posted September 27th, 2013 in Producers, Employers, Individuals

The Center for Medicare & Medicaid Services (CMS) released proposed regulations about a new Basic Health Program that will be available starting in 2015. The Basic Health Program will be a lower cost alternative for people that cannot afford health plans in the insurance exchanges, such as those people that fall just outside of Medicaid eligibility. 

Posted September 25th, 2013 in Producers, Employers, Individuals

New guidance was released on September 13, 2013 that applies to Health Reimbursement Arrangements (HRAs) and other employer healthcare arrangements. Much of the guidance impacts employers that want to provide reimbursements to employees to help pay for individual health insurance policy premiums. Many employers have given this idea some consideration instead of offering a traditional group health plan to reduce their costs.

Posted September 6th, 2013 in Producers, Employers, Individuals

Leadership, resources cap decades of achievements and milestones

Earlier this week, Flexible Benefit Service Corporation (Flex) celebrated its 25th anniversary in the health insurance industry. A marketplace leader since 1988, Flex is a trusted general agency and account-based benefits administrator, who also operates the InsureXSolutions® private health insurance exchange.

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

Last week, the U.S. Department of Treasury published final guidance on the Individual Shared Responsibility requirements, also known as the Individual Mandate. The Affordable Care Act (ACA) mandates that most U.S. citizens and permanent residents have a qualified health plan starting in 2014 or face financial penalties.

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