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NueSynergy Insights: April 2018
ICYMI: NueSynergy announces partnership with Employee Navigator As an innovative leader for over two decades in providing full-service administration of consumer-driven and traditional account-based plans, we're always looking for new ways at NueSynergy to raise...
Dermatology
Amounts paid to a dermatologist for a medical condition such as acne are eligible medical expenses.Note: Precedures soley for the enhancment of appearance such as botox are not eligible expenses.
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16 things you had no idea you could purchase with your FSA
16 things you had no idea you could purchase with your FSAJanuary 29, 2019Flexible Spending Accounts may be more flexible than you realized, and you don’t want to miss out. 2019 is expected to be an even bigger year for FSAs than the last, with 32 million accounts...
2017 HSA Contribution and Plan Limits
The IRS has announced the 2017 Health Savings Account (HSA) maximum contribution limits detailed in the newly released Revenue Procedure 2016-28. HSA contribution and plan limits will remain mostly unchanged for 2017, with only the individual HSA contribution limit...
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What happens to your HSA after employment ends?
This article provides an overview of the impact to your Health Savings Account “HSA” upon termination of employment. It is not a comprehensive reference and should be reviewed in conjunction with your employer’s benefit materials and plan documents. In the event of...
2017 HSA Contribution and Plan Limits
The IRS has announced the 2017 Health Savings Account (HSA) maximum contribution limits detailed in the newly released Revenue Procedure 2016-28. HSA contribution and plan limits will remain mostly unchanged for 2017, with only the individual HSA contribution limit...
A Self-Funded Option for Unhealthy Small Employers
Are you a broker who’s been recommending self-insured, level-funded plans to your small group clients? If so, you’re not alone – more and more small employers, in an effort to keep premiums under control, are bailing on the small group market and taking advantage...
How do I access my HRA funds?
You can access your HRA to be reimbursed for qualified deductible expenses by 1) using your mobile app, 2) completing an electronic claim, or 3) submitting a paper claim. Whatever method you prefer, a copy of your EOB (Explanation of Benefits) from your insurance...
Employer Mandate Penalties Increase for 2016
As most employers know by now, companies with 50 or more full-time equivalent employees are required to offer affordable health coverage that provides minimum value to their full-time employees starting in 2015 or face a significant penalty. Those that don’t offer...
Adoption Assistance Flexible Spending Account
The Adoption Assistance Flexible Spending Account helps you pay for eligible adoption expenses by contributing to the account with pre-tax money from your paycheck. This means you do not pay federal or state income taxes (where applicable) on these funds. You will...
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16 things you had no idea you could purchase with your FSA
16 things you had no idea you could purchase with your FSAJanuary 29, 2019Flexible Spending Accounts may be more flexible than you realized, and you don’t want to miss out. 2019 is expected to be an even bigger year for FSAs than the last, with 32 million accounts...
2017 HSA Contribution and Plan Limits
The IRS has announced the 2017 Health Savings Account (HSA) maximum contribution limits detailed in the newly released Revenue Procedure 2016-28. HSA contribution and plan limits will remain mostly unchanged for 2017, with only the individual HSA contribution limit...
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16 things you had no idea you could purchase with your FSA
16 things you had no idea you could purchase with your FSAJanuary 29, 2019Flexible Spending Accounts may be more flexible than you realized, and you don’t want to miss out. 2019 is expected to be an even bigger year for FSAs than the last, with 32 million accounts...
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16 things you had no idea you could purchase with your FSA
16 things you had no idea you could purchase with your FSAJanuary 29, 2019Flexible Spending Accounts may be more flexible than you realized, and you don’t want to miss out. 2019 is expected to be an even bigger year for FSAs than the last, with 32 million accounts...
Who is eligible to open and contribute to an HSA?
If you are enrolled in qualified High Deductible Health Plan (HDHP) - either through your employer or you have purchase and individual policy - you are most likely eligible to open and contribute to an HSA. Additional eligibility criteria include: You must have a...
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Who is eligible to open and contribute to an HSA?
If you are enrolled in qualified High Deductible Health Plan (HDHP) - either through your employer or you have purchase and individual policy - you are most likely eligible to open and contribute to an HSA. Additional eligibility criteria include: You must have a...
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Is MaxHSA required?
No. MaxHSA is a voluntary program designed to help you build additional HSA savings through everyday spending. Participation is completely...
Who do I contact if I need help?
If you need help with your MaxHSA account, support is available through the MaxHSA platform. If you have questions about your HSA account itself, NueSynergy Customer Service can...
What are cashback rewards?
MaxHSA includes a rewards marketplace where you can earn cashback from participating merchants. When you shop through the MaxHSA rewards platform: A merchant provides a commission A portion of that commission is credited to your account The cashback contributes...
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Is my financial information secure?
To use MaxHSA, you will link: Your HSA account A checking or savings account that will fund roundups One or more debit or credit cards used for...
What accounts do I need to link?
To use MaxHSA, you will link: Your HSA account A checking or savings account that will fund roundups One or more debit or credit cards used for...
Do these contributions count toward my HSA contribution limit?
Yes. Money transferred to your HSA through MaxHSA counts toward the annual IRS HSA contribution limit. If you are already contributing to your HSA through payroll deductions or personal contributions, you should monitor your total contributions to avoid exceeding...
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Wig
The costs associated with the purchase of a wig for an individual who has lost all of their hair due to a disease or from treatment is an eligible expense.
Who pays for COBRA coverage?
Your group health plan can require you to pay for COBRA continuation coverage. The amount charged to qualified beneficiaries cannot exceed 102 percent of the cost to the plan for similarly situated individuals covered under the plan who have not incurred a...
Who is eligible to open and contribute to an HSA?
If you are enrolled in qualified High Deductible Health Plan (HDHP) - either through your employer or you have purchase and individual policy - you are most likely eligible to open and contribute to an HSA. Additional eligibility criteria include: You must have a...
Who is eligible for continuation coverage under COBRA?
To be eligible for COBRA coverage, you must have been enrolled in your employer's health plan when you worked and the health plan must continue to be in effect for active employees. COBRA continuation coverage is available upon the occurrence of a qualifying event...
Who is a qualified dependent under the Dependent Care FSA?
Dependent under the age of 13; or Dependent or spouse of employee who is mentally or physically disabled and whom the employee claims as a dependent on his or her Federal Income Tax return.
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Is MaxHSA required?
No. MaxHSA is a voluntary program designed to help you build additional HSA savings through everyday spending. Participation is completely...