Benefits Debit Cards are Convenient for Everyone

We live in a convenience-based society, always on the lookout for immediate satisfaction. Linking tax-advantaged benefits accounts such as FSAs and HSAs to benefits debit cards is a popular option that creates more convenience for everyone. When using an account-linked benefits debit card, the participant can make eligible purchases without having to front the expense, … [READ MORE]

2022 Compliance and Reporting Requirements

Some of the COVID-related reporting requirements are ending. However, others are resuming or being introduced for the first time. Pharmacy and Health Care Spending Reporting The Consolidated Appropriations Act (CAA) requires all employer groups who offer health plans, along with insurers and pharmacy benefit managers, to submit information on pharmacy and health care spending to the Departments … [READ MORE]

Attract and Retain Talent with a Lifestyle Spending Account

Attracting and retaining workforce talent has become very difficult for many companies. Although the pandemic is easing, the labor market outlook continues to be problematic. Companies must set themselves apart from other employers that are drawing from the same labor pool. One way to do so is through your benefits package and including a Lifestyle Spending Account … [READ MORE]

Remember to Communicate Temporary Changes to Benefit Account Deadlines

To say that the last two years have been challenging would be an understatement. For the benefits industry, it’s been particularly difficult to navigate changes to various rules and regulations. Among their efforts to provide relief to employees during the pandemic, Congress has temporarily changed certain regulatory requirements and deadlines for the 2021-2022 period. It’s … [READ MORE]

New Preventive Care Guidelines, Lower Out-of-Pocket Costs

Preventive healthcare may help reduce the risk of disease, disabilities, and death. However, millions of people still don’t seek out preventive care services. The problem has become so rampant that the Department of Health and Human Services (HHS) has launched an initiative called Healthy People 2030. The initiative aims to educate people on preventive care … [READ MORE]

‘Transparency in Coverage’ Rule Now in Effect

Healthcare costs have been on the rise for decades, and this year is on track to continue that trajectory. Current predictions are that costs will likely trend up about 6.5 percent in 2021, especially in the areas of mental health and ongoing COVID-19 care. The portion of healthcare costs that a patient is responsible for after … [READ MORE]

Coronavirus and Your FSA/HSA

Severe acute respiratory syndrome coronavirus 2 (SARS‑CoV‑2) is the formal name of the coronavirus responsible for the ongoing COVID-19 pandemic. In the United States, since the original outbreak we have so far experienced two variants, Delta and Omicron. Public health experts believe that, like influenza, COVID will eventually become endemic – never completely disappearing, but due to vaccination … [READ MORE]

Benefits Participation Requires Education

Many companies work hard to offer great benefit plans to their employees. But plan documents can be hard to understand and may discourage employees from enrolling at all – and if they do enroll, they may not use their benefits as much as they could, or should. As a result, employers pay for benefits not … [READ MORE]

FSA Plan Year Ending Soon? Four Things to Know

As the plan year for your Flexible Spending Account (FSA) comes to an end, there are a few things you need to know to make sure you are maximizing your FSA account benefits. Calendar-year FSA plans end on 12/31. Your plan may differ, but at least a month or two before it ends, you should … [READ MORE]