Reimbursement Account Service Improvement Update
Exciting Changes Coming In January 2010
 January is just around the corner and Crosby has been working hard to prepare for the upcoming Reimbursement Account Service enhancements. We’re in the process of reaching out to clients to discuss the specifics of the new service offerings, including the new All-In-One Funding Method that includes the following benefits:
► All transaction types will come out of one account
► Daily claim reimbursement
► Weekly funding to Crosby to cover all reimbursement types
► Overdraft coverage at no charge
The user experience for our participants will be improved as well. Over the next several weeks, we will be communicating via summary statement mailings, Open Enrollment materials and MyCrosbyBenefits.com, the enhancements that will be available as of January 1st.
We are very excited about these changes and we hope you are too. Please don’t hesitate to email Linda Fulton, Max Crosby or Darla Rosenfeld with any questions. |
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No Change for 2010 Transportation Benefits
Pre-Tax Limits for Transit and Parking Hold Steady
 The IRS released the annual Cost of Living Adjustments but announced that pre-tax limits for Parking and Transit will not change for 2010. Limits for qualified parking, transit and van pooling expenses will remain at $230.
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Catch the Renewal Wave 2010
There Is Still Time To Sign Us Up For Your Benefit Fair  To request our participation, email Tina Crosby with the following details about your fair: date, time, estimated attendance, specific location, parking arrangements and whether a raffle prize should be contributed. Crosby will attend benefit fairs upon request, subject to availability.
Don't forget, we also have two online videos for you and your employees that outline the great benefits that Flexible Spending Accounts have to offer: FSA Overview Only & FSA Overview w/ Debit Card. |
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National Health Care Reform Update
Act Now: Encourage Congress Not To Change FSAs
 Congress continues to narrow down Health Care Reform bills in an attempt to pass sweeping legislation. On Thursday, the House of Representatives introduced their version called the Affordable Health Care for America Act (H.R. 3962 legislative language). This proposal combines three previous bills passed within House committees. We are currently focused on how this bill will affect Flexible Spending Accounts (FSAs) if put into law. Below are a few key points found in the document:
1. If passed, beginning 1/1/2011: Over-the-counter and non-prescription items would require a doctor’s note.
2. If passed, beginning 1/1/2012: There would be a $2,500 FSA cap (indexed to the consumer price index).
3. If passed, beginning 1/1/2011: An increase to the 10% penalty for distributions from HSAs that are not used to pay for health related expenditures would increase to 20%.
4. Upon passing of this bill, coverage purchased through the Government created Exchange may not be purchased on a pre-tax salary reduction basis unless the purchaser’s employer is eligible to offer employer coverage through the Exchange.
Please email Harvey Crosby if you are interested in getting more involved in efforts to affect this pending legislation.
Learn more at SaveMyFlexPlan.org, a fantastic website designed to keep you informed of pending changes to FSAs.
► Sign up for email alerts
► Use the effective "Call Your Members of Congress" feature
► Calculate the potential impact of the elimination of FSA
► Get access to helpful news links and personal stories
If any of these proposals were to pass today, they would have a detrimental impact on FSA participants. Help preserve this valuable employee benefit by reaching out to your representatives in Congress to voice your opinions. |
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Are You In Compliance?
Crosby Can Help With Your Section 125 Plan Documents
 Plan Documents and Summary Plan Descriptions (SPDs) are mandatory for your organization; these documents outline plan rules and provide an explanation to participants about how your health plans will operate. Crosby works hard to stay abreast of all regulatory and legislative changes in the health and welfare benefits arena and to accommodate this rapidly changing environment, we offer clients a Plan Document service that provides customized Model Plan Documents and SPDs. This service also offers an option to enroll in our ongoing service that will automatically send amendments when applicable law changes occur.
For example, when the Children's Health Insurance Program Reauthorization Act of 2009 ("CHIPRA") amended HIPAA's special enrollment rules to allow for a third special enrollment category, a Plan Document Amendment was distributed to participating clients.
Upon enrollment, you will be asked to complete a questionnaire capturing certain plan parameters and company information which will be used to create the Model Plan Documents. Once completed, the documents will be sent for adoption and distribution as both a hard copy and in an electronic format.
If your organization does not have its Section 125 Plan Documents, or if your current documents need updating, we’re here to help. Please email your Client Consultant, Linda Fulton, Max Crosby or Darla Rosenfeld, for more information about enrolling in this service. |
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The Crosby Connection Newsletter is intended for Crosby Client Contacts. © 2009 Crosby Benefit Systems
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....We can manage your HIRD Form process?
Are you complying with your 30-day deadlines?
> After Open Enrollment
> New hires who turn
down coverage
> Employees who drop coverage
Our process is designed to distribute, track and store Employee HIRD Forms so that you don't have to.
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...Commuter Benefit Programs can add revenue?
> Quick Implementation
> Easy-To-Use
> All Major Metro Areas Covered
> Single System
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For more information about any of our services, please contact Jean Sicurella via email or call 617-630-0496. |
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2010 HSA Limits The IRS has released the Health Savings Account (HSA) Annual Maximums for 2010:
Individual: $3,050
Family: $6,150
The HSA maximum annual catch-up contribution will remain at $1,000 for individuals who are age 55 and older. |
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Need a Team Roster?
Our organizational design utilizes a client-centered team approach to best meet your needs. If you're interested in receiving a team roster, please email us here to request a complete roster with contact information. |
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