Individuals

Posted January 6th, 2014 in Producers, Employers, Individuals

The maximum amount that can be reimbursed with pre-tax dollars for mass transit officially dropped to $130 per month for employees as of January 1st.  Last year the maximum reimbursement was $245 per month for mass transit so this may come as a shock to some employees. The decrease is a result of a tax law that expired at the end of 2013.

Posted January 3rd, 2014 in Producers, Employers, Individuals

President Obama had previously announced that individuals could keep their health plan for another year if they received a cancellation letter in the mail. But he ultimately left this decision up to each state to decide. There were several states that chose not to allow these health plans to be continued for another year. As a result, several individuals are being forced to find new coverage.

Posted December 18th, 2013 in Producers, Employers, Individuals

Healthcare Reform, Obamacare, Affordable Care Act, thingamajig, whatchamacallit, no matter your choice of nickname—it’s unavoidable this holiday season. Much like those ugly sweater holiday parties that force you to raid a family member’s closet or a local thrift store, your treasure hunt is now for the best, most affordable health insurance for yourself, family members, employees and/or clients.

A recent article gave insider tips on how to shop at a thrift store. A lot of these same practices apply directly to the insurance shopping experience under the new health law.

Note: All of the tips that the source article gave for shopping at a thrift store are listed within parentheses.

Posted December 13th, 2013 in Producers, Employers, Individuals

Flexible Benefit Service Corporation (Flex) has been administering Health Savings Accounts (HSAs) since the beginning. These ten years have gone by fast, and every year more and more people are starting to take notice of them. They have been celebrated as popular, consumer-driven and a great tool for retirement planning.

Moreover, HSA participants themselves have received the reputation of being cost-savvy and more involved overall in their health care spend. While HSAs are not for everyone, these plans offer consumers a triple tax advantage – which is not very common in the tax code.

Posted December 4th, 2013 in Producers, Employers, Individuals

Here are three major Affordable Care Act (ACA) deadline changes that have made headlines recently.

1.    Individuals looking for a January 1, 2014 effective date will now have until December 23, 2013 to submit an application and until December 31, 2013* to make their initial premium payment in the public exchange. Additionally, each carrier must decide how they will handle the implementation of this change outside of the public exchange.

Posted November 26th, 2013 in Employers, Individuals

During the holidays, when you are face-to-face with family members, even a “simple” healthcare reform question may land you in the middle of an escalated political debate. You may even be the go-to person for these questions if you are known to be up-to-date with the latest news.

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

The Center for Medicare and Medicaid Services (CMS) made a significant announcement on November 19, 2013 that will give insurance companies the ability to verify subsidy eligibility and directly enroll individuals in a subsidized plan without having to direct them to the Federally Facilitated Marketplace (FFM) as part of the process. This announcement appears to be a way to address some of the technical problems and glitches that HealthCare.gov has been plagued with since its launch on October 1, 2013. 

Posted November 19th, 2013 in Producers, Employers, Individuals

Last week, President Obama announced that Americans can keep individual health insurance policies that they were told will be canceled because they failed to meet requirements established by the Affordable Care Act (ACA).

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.

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