In the News

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Dual Purpose Expenses and Notes of Medical Necessity
06/23/2017

Dual Purpose Expenses and Notes of Medical Necessity Pretax spending accounts reimburse many expenses including co-pay, deductible and prescription expenses. These items are typically eligible with standard documentation and nothing additional is needed.  However, there are several expenses that are considered dual purpose, and require additional documentation in order to be reimbursed. Dual purpose expenses […]

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Employers – don’t forget your mid plan-year checkup!
06/16/2017

Employers – don’t forget your mid plan-year checkup! The middle of the plan year is a great time for employers to review the status of their benefits and make sure everything is still in order for the current plan year. An employer completing a mid-year audit may want to check the following items: Payroll Deductions […]

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Flexible Spending Account Eligible Expenses and Summertime Must-Haves
06/02/2017

Flexible Spending Account Eligible Expenses and Summertime Must-Haves As summer is about to begin, what better way to be prepared for the warmer weather than to stock up on items through your FSA that you’ll need for the summer months. Many participants may not be aware they are able to use their FSA to purchase […]

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What are the reporting requirements for Health Reimbursement Arrangements?
05/25/2017

What are the reporting requirements for Health Reimbursement Arrangements? Group health plans have several reporting requirements. Since Health Reimbursement Arrangements (HRAs) are considered group health plans, many of the requirements that apply to group health insurance plans also apply to HRAs. Medicare Secondary Payer Reporting In an attempt to reduce unneeded payments, Medicare requires group […]

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What is a Health Reimbursement Arrangement?
05/17/2017

What is a Health Reimbursement Arrangement? A Health Reimbursement Arrangement, or HRA, is a pre-tax benefit that can be offered by employers to help pay for their employees’ out of pocket medical costs. HRAs are funded entirely by the employer; there is no contribution made by the employee.  The benefit of the HRA is that […]

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How are HRAs different from FSAs and HSAs?
05/05/2017

How are HRAs different from FSAs and HSAs? With so many options available for employee benefits, what sets health reimbursement arrangements (HRAs) apart from the rest of the pre-tax reimbursement accounts? 1. HRAs provide employers the ability to specify exactly what expenses the plan will reimburse. HRAs are funded entirely with employer contributions. HRAs can […]

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Designing a Health Reimbursement Arrangement
04/28/2017

Designing a Health Reimbursement Arrangement Health Reimbursement Arrangements, or HRAs, can be a powerful addition to an employer’s benefit package. The benefit helps pay for out of pocket medical expenses for employees and can be customized based on the employer’s preferences.  Listed below are several features of HRAs and some options available for each. Eligible […]

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