IRS Announces 2019 Increases to Flex Benefit Contribution Limits

by daziumdesign@gmail.com | Nov 15, 2018

IRS Announces 2019 Increases to Flex Benefit Contribution Limits

November 15, 2018

The IRS has announced the 2019 contribution maximums for Flexible Spending Account (FSA) plans in the newly released Revenue Procedure 2018-57. Contribution limits increased for the Health FSA, Commuter Benefits and Adoption Assistance program, while limits for the Dependent Care FSA remained unchanged.

Health Flexible Spending Account

The Health FSA, which provides employees the ability to set aside money on pre-tax basis to pay for eligible medical, dental, and vision expenses will have an increase to its contribution maximum from $2,650 to $2,700 for 2019. The new contribution limit will also apply to the Limited Purpose FSA which reimburses eligible dental and vision expenses.

Commuter Benefits

Commuter Benefits help employees pay for certain parking, mass transit and/or vanpooling expenses with pre-tax dollars. The contribution limits for this account will increase from $260 to $265 for 2019.

Adoption Assistance

The Adoption Assistance FSA helps employees pay eligible adoption expenses such as agency fees and court costs by contributing to the account with pre-tax money from their paycheck. The contribution limits for this account will increase from $13,840 to $14,080 for 2019.

2018 and 2019 Contribution Amounts

Benefit 2018 | 2019

Health FSA $2,650 | $2,700

Limited Purpose FSA $2,650 | $2,700

Dependent Care $5,000 | $5,000

Parking/Transportation $260 / $260 | $265 / $265

Adoption Assistance $13,840 | $14,080

Questions? Contact us at 855.890.7239 or send an email to customerservice@nuesynergy.com.

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Increase your book of business by partnering with NueSynergy

by daziumdesign@gmail.com | Oct 11, 2018

It may be difficult to believe, but open enrollment season is here again. And sure as the sun rises, many clients are demanding enhanced benefits at a zero-cost increase for the new year.

When it comes to administering services such as COBRA, FSAs, HRAs and HSAs, all third party administrators are the same, right? Wrong! Over the last two decades, NueSynergy has separated itself from the competition by offering personalized, knowledgeable service and innovative technology-based solutions that have helped raise the bar in benefit value and overall experience. We call it the NueSynergy Difference.

If you have any clients that are looking to enhance their benefits at a zero-cost increase, let’s schedule a 10-minute call to discuss how we can work together to accomplish this task.

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

Open enrollment is almost here

by daziumdesign@gmail.com | Oct 11, 2018

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.

St. Louis County chooses NueSynergy as benefit account administrator

by daziumdesign@gmail.com | Sep 18, 2018

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.

Brett Flanagan joins NueSynergy as Western Regional Director

by daziumdesign@gmail.com | Sep 10, 2018

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.