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New FSA Limit Announced

New FSA Limit Announced

If all you want for Christmas is an extra $50 in your health FSA, you must have been very good this year. Santa is granting your wish and allowing just that much, as the new FSA contribution was announced last month! However, the gift that keeps on giving may be a little too late for some whose Open Enrollment periods have already ended. If you are one of the lucky ones that are still eligible to make changes to your health benefit elections, take a moment to read below; there are several benefit limitation changes for 2020.

The annual dollar...

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Helping Your Employees Make the Best of Their Benefits

Helping Your Employees Make the Best of Their Benefits

Open enrollment is a confusing time for your employees. They’re lost, dazed, and confused, trying to make heads and tails of which account covers what and how much money they’ll be out of pocket every paycheck for their elections.

You and I both know the critical role tax-advantaged savings accounts play in making healthcare more affordable for employees. Still, employees don’t always recognize the potential cost savings associated with them until presented with real numbers.

Here’s why this is important:

The estimated cost of health insurance for...

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What is an FSA, exactly?

What is an FSA, exactly?

AHHHH!!! Here we go again with the confusing acronyms! Yes, we get it: this stuff is complicated, especially living in a fast-paced world where we barely have the time to check our voicemails. Forget about answering them! So, let's start, as we usually do, with a definition.

FSA, or Flexible Spending Account, is set-up through employers and can be used for medical expenses, dental care, and vision care. The employee decides how much to contribute for the year, and that amount is deducted from the employee's pay over 12 months before...

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Open Enrollment Help When You Need It

Open Enrollment Help When You Need It

Medcom Benefits Solutions brings even more to the table with our new Open Enrollment marketing program. This email specific program puts together the pieces for you and your employees. We know how busy and overwhelming Open Enrollment season can be and how easy it is for important things to end up on the back burner. Our OE program will not only help you out but educate your team and save your company time and energy this busy season!   Did You Know?

We both know that flexible spending and health savings accounts play an important role in making healthcare...

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