Jun 9, 2020 | Announcements, Consumer-driven Health Plans, Health Savings Accounts (HSAs), IRS
The IRS recently announced its annual cost-of-living adjustments affecting health savings accounts (HSAs) for calendar year 2021. HSA Contribution Limits – The annual HSA contribution limit for individuals with self-only HDHP coverage increases to $3,600, while the...
May 29, 2020 | Coronavirus, COVID-19, Flexible spending accounts (FSAs), IRS
The IRS recently released two notices of interest to employers offering flexible spending accounts (FSAs). Notice 2020-29 relates to cafeteria plan elections and FSA grace periods, both of which are optional. These plan amendments must be adopted before December 31,...
May 28, 2020 | Cost Savings, MedBen Rx, MedBen Rx Advocate, Pharmacy Benefits Manager (PBM), Rx Costs, Savings, Transparency
A recent Benefits Pro article highlights two pharmacy benefits management (PBM) business models: traditional and pass-through. MedBen Rx Advocate begins with the pass-through approach but takes it one step further by eliminating margin manipulation. The traditional...
May 27, 2020 | Announcements, Cost Savings, MedBen Analytics, Online Services, Plan Design, Plan Language, Reporting
You may have noticed that the log-in screen of MedBen Analytics recently had a design update, but be assured that all the features remain the same. MedBen Analytics is an online service available to all clients and brokers, providing insightful data that helps...
May 20, 2020 | Announcements
Our home office and client services will be closed on Monday, May 25 in observance of Memorial Day. We will reopen at 8:00 a.m. EST on Tuesday, May 26. Plan members that need claims and benefits information during the holiday weekend (or any other time) can typically...
