Employers can save substantially with January 1, 2011 effective dates
ROSEMONT, Ill. (November 9, 2010) – Flexible Benefit Service Corporation (Flex) today announced special one-time pricing for new Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs) and Medical Reimbursement Plans (MRPs) with January 1, 2011 effective dates.
With medical and prescription costs expected to exceed core inflation again in 2011, there has never been a better time to consider a FSA, HRA or MRP plan. In fact, a recent Segal Health Plan Survey projects that all 2011 medical plan types will experience cost trends of more than eight times higher than the consumer price index.
Employers can offset cost increases on traditional health plans by integrating a Flex125® Cafeteria Plan or FSA into their benefits package. These plans offer participating employees the opportunity to reduce taxable income by using tax-free dollars to pay for healthcare and dependent care expenses. While employees are increasing their take-home pay, employers save the matching payroll taxes and potentially federal and state unemployment taxes.
Tax-advantaged accounts such as FlexHRA® Health Reimbursement Arrangements and FlexMRP® Medical Reimbursement Plans are combined with a high-deductible health plan to create a Consumer-Driven Health Plan (CDHP) benefit option. HRAs and MRPs have been shown to help reduce overall healthcare spending and reduce premium costs. According to a six-year study issued by Aetna® on CDHPs, offering HRAs, or Health Savings Accounts (HSAs), as the sole option saved U.S. employers $21 million per 10,000 enrolled members over five years. Additionally, employers who offered CDHPs as an option along with traditional health plans saved $7 million per 10,000 enrolled members over five years.
“As employers continue to look for ways to reduce costs, now is the time to integrate one of these tax-advantaged programs at a drastically discounted price from Flex,” says John DiVito, President at Flex. “This is a great way for employers to start 2011.”
Flex is now offering 50 percent off the annual fee, and 50 percent off per participant per month (PMPM) fees for the first six months on new Flex125 Plans or FlexHRAs with an effective date of January 1, 2011. Employers purchasing a new FlexMRP with an effective date of January 1, 2011 will receive a reduced 2011 annual fee, and a discounted rate of $6 PMPM for the entire length of the contract. New FlexMRP clients will also receive 50 percent off that discounted rate ($3 PMPM) for the first 6 months, for an even bigger savings.
Visit the following links for more information on this limited-time offering:
• Video: http://my.brainshark.com/Flexible-Benefit-Service-Corporation-Flex-FSA-HRA-and-MRP-Pricing-Promotion-for-2011-874538190.
• Information Sheet: http://www.flexiblebenefit.com/FlexDocs/ban/1327.pdf
For more information on Flex, please visit www.flexplans.com or call 866-472-0882.
About Flexible Benefit Service Corporation
Flexible Benefit Service Corporation (Flex), headquartered in Rosemont, Ill., offers access to leading solutions in the benefits administration and health insurance markets. Founded in 1988, the primary goal at Flex is to promote cost-effective healthcare through the use of consumer-driven strategies and tax-advantaged programs. With cutting-edge technology, strong industry relationships and superior customer service, Flex provides the resources to continually exceed this goal. For more information, visit www.flexiblebenefit.com.
Flexible Benefit Service Corporation
847 699 6900
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