Open enrollment is almost here

Open enrollment is almost here

It’s that time of year again. Open enrollment is around the corner. For many companies, this is the best time to review the health care needs of the organization. And with unemployment rates nearing historic lows, many businesses are enhancing their benefits package to recruit and retain top talent.

As some of you may be aware, enrollment in Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) and Health Reimbursement Arrangements (HRAs) has been on the rise over the last several years. Participation in flex-benefit plans is part of a growing trend for employees looking for perks at work. This holds especially true for Millennials, the largest generation in today’s workforce.

This is where NueSynergy can help

NueSynergy offers a fully integrated suite of administration services, managed by subject matter experts with an average of 10 years direct industry experience. Our administration services include:

Flexible Spending Arrangements
Health Savings Accounts
Health Reimbursement Arrangements
COBRA
Direct Bill
Consolidated Billing

Further, NueSynergy has the in-house expertise and integrated technology to help employers maximize operational efficiencies and control rising health care costs. Our commitment to outstanding client service ensures employees have the tools and resources to manage the financial aspect of their health care. By making innovations such as insurance carrier integration, single platform administration as well as single debit card and mobile app access to all plans part of our standard solution, we have quite simply raised the bar in benefit value and overall experience.

Open enrollment and beyond

In today’s modern workforce, it’s critical for employers to recognize the role that engaged employees play in driving sustainable company growth and success. By taking the time to educate and engage with employees about their benefits package, employers can better identify what programs and services employees and their families value the most. By taking this approach, employers better position themselves to create a healthier and more productive workforce.

So if you’re looking to add flex-benefits to your company’s health plan, or need help effectively communicating and educating your employees about their available benefits, please give us a call or send us an email! We’re here to help.

Please contact us today at sales@nuesynergy.com or 855.890.7239 to schedule your consultation today.

Open enrollment is almost here

St. Louis County chooses NueSynergy as benefit account administrator

Leawood, KS, (September 18, 2018) – NueSynergy, Inc., an innovative leader for over two decades in providing full-service administration of consumer-driven and traditional account-based plans, today announced they have been appointed to administer the Flexible Spending Account (FSA) benefit plan for St. Louis County Government employees.

The St. Louis County Government proudly serves over one million citizens across the Greater St. Louis area with a budget of over $600 million. St. Louis County contains nearly half of the region’s employment positions and houses nearly 65 percent of the region’s largest, publicly owned companies.

“We are enthusiastic to partner with St. Louis County to administer their FSA benefit plan. Our reputation for personalized and knowledgeable service, supported by reliable and easy-to-use technology will allow us to bring a new positive, value driven perspective to St. Louis County’s benefit account program. We look forward to developing a longstanding relationship with St. Louis County and their dedicated employees,” said NueSynergy president, Josh Collins.

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Based in Leawood, KS, NueSynergy has grown into one of the largest benefit account administrators, providing Health Savings Accounts (HSA); Flexible Spending Accounts (FSA); Health Reimbursement Arrangements (HRA); COBRA and Direct Premiums Billing services to employers of all sizes and sectors including state and local governments, as well as privately and publicly traded companies.

Open enrollment is almost here

Top 8 Ways H.R. 6199 Would Impact HSA Owners

Congress is once again considering the possibility of expanding access to HSAs and how those funds can be used. As you may be aware, two bills addressing HSAs passed the U.S. House of Representatives in late July and are now sitting in the Senate.

As of this writing, the two pieces of legislation, H.R. 6199 and H.R. 6311, haven’t been assigned to committee in the Senate. And with the midterm elections looming, both may fall victim to calendar deadlines. Although their future is uncertain at best, H.R. 6199 and H.R.6311 provide an insight into the future of HSAs.

So what does that future look like? Today we’ll break down the top eight ways H.R. 6199 would impact HSA owners, if enacted.

H.R. 6199 would

add increased flexibility by allowing a High-Deductible Health Plan (HDHP) to provide families up to $500 in pre-deductible coverage for non-preventive care;
add direct primary care arrangements to the types of coverage an individual can have;
give employers the flexibility to offer various free or discounted medical services, either onsite or at a retail clinic, and HDHP-covered employees who receive those services would still be HSA-eligible;
allow a person with HDHP coverage to contribute to an HSA, even if their spouse has an FSA, as long as the FSA doesn’t reimburse any expenses for the HDHP-covered spouse;
allow employees to transfer their HRA and/or FSA balances to an HSA, if the employee enrolls in an HDHP and establishes an HSA;
allow HSA funds to be used to buy over-the-counter medications without a prescription;
allow HSA funds to be used to purchase menstrual care supplies;
allow families to use up to $1,000 per year in HSA funds to pay for gym memberships, as well as safety equipment and participation/instruction fees for “qualified physical activities.”
While it’s unlikely the Senate will move on either piece of legislation this year, HSAs continue to skyrocket in popularity as health insurance premium increases have become the new normal in this uncertain market.

HSAs also remain popular because consumers are looking for more choices and more ways to save. For example, HSAs offer triple tax savings. This means any HSA contributions can be made either pre-tax or are tax deductible at year-end. Any interest income or earnings on investments tied to an HSA remains tax free. Lastly, as long as the HSA funds are used to pay for qualified health care expenses then no taxes will be charged on distributions.

Moving forward, we’ll continue to track both pieces of legislation and provide updates as necessary. In the meantime, please check out this article about H.R. 6311 if you’re interested in learning more about the bill we were unable to cover in today’s post.

Open enrollment is almost here

Brett Flanagan joins NueSynergy as Western Regional Director

Given the growth and geographical expansion of NueSynergy, the company has created a Western Regional Director position that will be held by Brett Flanagan. Based in Phoenix, AZ, Brett will be responsible for retaining existing clients and developing new partners within the region.

Brett Flanagan is a respected expert with over 20 years experience in the benefits administration space. Always driven to succeed, Brett expanded his previous employer from a regional to national player – largely thanks to his tremendous understanding of employee benefits.

“This is an exciting time for NueSynergy and Brett is a great fit for this position. I’m confident his experience, along with the relationships he’s developed over the past two decades, will help grow our client base and drive our company goals. We are delighted to have him on board,”” said Josh Collins, president of NueSynergy.

Since 1996, NueSynergy has been an innovative leader in providing full-service administration of consumer-driven and traditional account-based plans. The company has grown into one of the largest benefit account administrators providing Health Savings Accounts (HSA), Flexible Spending Accounts (FSA) and Health Reimbursement Arrangements (HRA); in addition to COBRA, Direct Premiums Billing and Consolidated Billing services to employers of all sizes and sectors including state and local governments as well as private and publicly traded companies.

With the addition of Brett, NueSynergy will be able to offer the following administrative services to the Western United States:

– Flexible Spending Arrangements
– Health Savings Accounts
– Health Reimbursement Arrangements
– COBRA
– Direct Bill
– Consolidated Billing

NueSynergy will also bring into the region its in-house expertise and integrated technology to help employers maximize operational efficiencies and control rising health care costs. The company’s commitment to outstanding client service ensures employees have the tools and resources to manage the financial aspect of their health care. With over 4 million benefits accounts administered on the company’s platform, NueSynergy’s investment in industry leading technology ensures that clients will always have secure and convenient access to their benefits account.

NueSynergy’s core purpose is helping people protect their quality of life and it is driven by a desire to provide superior customer service, while performing ethically and professionally. With the ever changing regulatory landscape, the company’s core purpose has continued to evolve as focusing on helping customers truly understand the value of their benefits account, while striving for even greater industry and product expertise.

Open enrollment is almost here

NueSynergy, Inc., Announces Acquisition of IntegraFlex

Leawood, KS, (September 6, 2018) – NueSynergy, Inc., today announced the acquisition of IntegraFlex, a well-established third party administrator based in Boise, Idaho.

The acquisition of IntegraFlex will allow NueSynergy to expand its operations into the region and bring its in-house expertise and integrated technology to help employers maximize operational efficiencies and control rising health care costs. NueSynergy’s commitment to outstanding client service ensures employers and employees have the tools and resources to manage the financial aspects of their health care.

“We are excited about the acquisition of IntegraFlex. It provides a great opportunity to share our innovative service model with this new market. At NueSynergy we have implemented innovative, award-winning resources that make our administrative solutions truly unique.

NueSynergy’s core purpose is helping people protect their quality of life and it’s driven by a desire to provide superior customer service, while performing ethically and professionally.

We look forward to building upon IntegraFlex’s strong reputation in the region; and through our acquisition of IntegraFlex and several other companies this year, we look forward to growing the NueSynergy brand nationwide,” said NueSynergy president, Josh Collins.

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Based in Leawood, KS, NueSynergy has grown into one of the largest benefit account administrators, providing Health Savings Accounts (HSA); Flexible Spending Accounts (FSA); Health Reimbursement Arrangements (HRA); COBRA and Direct Premiums Billing services to employers of all sizes and sectors including state and local governments, as well as privately and publicly traded companies.

We’ve been innovative leaders in providing full-service administration of consumer-driven and traditional account-based plans since 1996.

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