News in the industry
| Copay Guidance issued by IRS |
| Notice 2006-69 will allow employers and their TPAs to automatically adjudicate transactions with multiple copays involved. The new limit set by the IRS is now 5 copays that can be automatically adjudicated in a single transaction. The previous guidance only allowed one copay per transaction to be automatically adjudicated. See the full ruling by clicking here |
| Drugstore.com News |
| Want a better way to use your FSA and save money at the same time? When you use your FSA card at drugstore.com, your health, vision, and prescription purchases are automatically approved. No claims. No waiting for reimbursement. No hassle. More . . . |
| Great News! |
| The new IRS Notice 2005-42 will allow employers to modify Flexible Spending Arrangements (FSAs) to extend the grace period for reimbursement of health and dependent care expenses up to 2-1/2 months after the end of your plan year. Claims incurred during this grace period would be eligible for reimbursement. You as the employer, can amend your current FSA plan to accept this new ruling. If you would like to have this option for your group, please contact us at:
Savers Administrative Services
David Roberson (336)759-3888, x107
(800)949-0311, x107
or email us at: flex@saversadmin.com
At your request, we will prepare your amendment to reflect this change and forward to you for your signature. There is no additional charge.
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Announcements
| Website Enhancement - Flexible Spending Account access |
Beginning Monday, May 9, 2005, when participants visit our website, they will be directed to a new link to access their Flexible Spending Account information. They may simply click on the picture of the MBI MasterCard and follow the simple instructions for accessing their account.
more . . . |
| Helpful Hints to reduce Receipt Requests |
Tired of faxing in receipts for recurring expenses or copays for your spouse and dependents because they are not part of your company’s insurance plan? Savers Administrative Services is pleased to announce an exciting new service for our flexible spending account participants.
more . . . |
| mbi E-Learning |
| The mbi Flex Convenience debit card allows employers to save valuable tax dollars by increasing Flex account participation and contributions. Learn more here. |
| Savers New Site is Up |
| Just in case you haven't noticed, the site looks
a bit different. We've updated our site to better serve your
needs. |
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