Individuals

Posted March 22nd, 2013 in Individuals, Employers, Producers

The U.S. Department of Health and Human Services (HHS) and the Internal Revenue Service (IRS) have jointly issued rules that define affordable coverage. Employers and employees still have several questions about how this affects penalty calculations and subsidy eligibility.

The following offers some insight on these key issues:

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

The U.S. Department of Health and Human Services (HHS) has published a draft version of the individual application that will be used for public exchange enrollments starting on October 1, 2013. The application may be as long as 21 pages for some families.

Estimates indicate the online application process will take a minimum of 45 minutes to complete, and it could be even longer for individuals applying for coverage with dependents. Social Security Numbers, citizenship and residency status and employment and income verification are among the items that will need to be disclosed. A recent AP news article indicated the application process "could be as daunting as doing your taxes."

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

The U.S. Department of Health and Human Services (HHS) posted final regulations about the deductible and out-of-pocket limitations to the Federal Registrar on February 25, 2013. Section 1302(c) of the Affordable Care Act (ACA) specifies that the maximum deductible for a qualified insurance plan cannot exceed $2,000 for single coverage and $4,000 for family coverage.

Posted February 28th, 2013 in Individuals, Employers, Producers

The U.S. Department of Health and Human Services (HHS) released the final regulations about Essential Health Benefits (EHB) on February 20, 2013. The guidance defines the benefits that must be included with all fully insured plans sold inside and outside of the public exchanges in 2014. This will impact all individual health plans and most small group health plans. Grandfathered plans and self-insured plans are exempt from the EHB requirements; however, self-insured plans that cover any EHB must provide coverage without any annual or lifetime dollar limits.

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

Important milestones are a special time to reflect on the past, celebrate achievements, create a vision for the future, and express appreciation.

This year, we at Flexible Benefit Service Corporation (Flex) expect to do no less as we proudly mark our 25th anniversary.

Posted December 4th, 2012 in Individuals

If you have a flexible spending account (FSA), the year-end FSA frenzy is here. FSA participants that may have contributed too much money may be in panic mode, but it does not have to be that way for you. Let’s take a look at some ways to use your FSA money.

Visit your:

  • Doctor to make sure to get all immunizations done.
  • Dentist/Orthodontist to get a check up on those pearly whites.
  • Optometrist to get an eye exam! Buy a new pair of eyeglasses, prescription sunglasses, contact lenses, or even stock up on contact lens solution.
  • Dermatologist to get prescriptions, such as acne treatments.
Posted November 13th, 2012 in Individuals

More and more, employers are starting to offer high-deductible health plans (HDHPs) in their benefits program. Correspondingly, the rate of employees enrolled in a HDHP has grown year-over-year. Even though this isn’t the standard health plan option you might be used to, here are four reasons to be thankful for your HDHP this enrollment season:

  1. Covers 100% - Just like a traditional health plan, basic preventive services such as vaccinations and wellness exams are covered at 100%! You can stay proactive with your health care and save money.
Posted November 6th, 2012 in Individuals, Employers, Producers

In their own words, politicians on either side of the fence agree that the middle-class is hurting.

“Middle-income families are being crushed.” – Mitt Romney

“The Middle Class has been buried.” – Joe Biden

A hot topic during the 2012 presidential election has been health care reform and the Affordable Care Act (ACA). American workers are paying more out of their pocket for health care expenses than ever before. No matter which party line you side on – everyone seems to agree that the financial burden carried by the middle class is disproportionate in one way or another.

Posted October 23rd, 2012 in Individuals, Employers

According to an estimate by Kaiser Health News, a couple retiring in 2012 will spend $240,000 on health care expenses. Statistics also indicate that a majority of employees (consumers) save virtually nothing on their own for retirement, other than through employer-sponsored plans (i.e., 401(k) plans).

There is an elephant in the room and people are starting to take notice. Flexible Benefit Service Corporation (Flex), in a nod towards National Save for Retirement Week (a congressionally endorsed, national event that takes place from October 21 – 27, 2012) is featuring the capabilities of a health savings account (HSA) repurposed as a smart way to begin to save for retirement.

Posted October 9th, 2012 in Individuals

Don’t let unspent FSA dollars haunt you

It can be scary to think about how much health care costs you and your family. If you have a flexible spending account (FSA), there’s no need to fear. Flexible Benefit Service Corporation (Flex) has conjured up six not so spooky ways to use your FSA before the end of your plan year.

  1. Prescriptions – Don’t be afraid to ask. Your doctor can write a prescription for everyday over-the-counter items.

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