Brett Flanagan joins NueSynergy as Western Regional Director

Brett Flanagan joins NueSynergy as Western Regional Director

by | 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.

Brett Flanagan joins NueSynergy as Western Regional Director

ICYMI: NueSynergy announces partnership with Employee Navigator

by | Mar 27, 2018

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 the bar in benefit value and overall experience for our clients and employer partners.

As part of these efforts, we’ve recently partnered with Employee Navigator, one of the fastest growing SaaS-based benefits and HR platforms in the United States.

Through this partnership, we will streamline the process of providing clients an array of capabilities ranging from consolidated billing services to traditional benefits administration and online enrollment. Employee Navigator is the preferred software provider for more than 18,000 companies and 2 million employees nationwide.

Below you will find a list of our products currently integrated with Employee Navigator and how they can benefit you and your company:

FSA, HRA, HSA ACCOUNTS

– Single system of record for all tax favored accounts
– Carrier integration for enhanced claim filing and substantiation
– Smart, intuitive debit card takes the effort out of managing funds
– True mobile app with AI feature
– Educational campaigns helping employees get the most of their benefits
– Dedicated account manager for each group

COBRA
– Custom Qualifying Event notice sent to employees, spouses and dependents informing them of ability to elect
– COBRA continuation of coverage
– Dedicated COBRA account manager
– COBRA premium payment management
– COBRA audit support

DIRECT BILL
– Invoice, collect and simplify paperwork associated with Leave of Absence (LOA), Family Medical Leave Act (FMLA), Retiree Billing and other billing needs
– Flexible, non-COBRA employer-directed premium billing and collection processing
– Improved employer cash flow through increased accuracy, timely billing and access to back-up documentation

CONSOLIDATED BILLING
– Receive initial and ongoing group enrollment information via Employee Navigator
– Pull monthly statements from each carrier once authorized by employer
– Audit carrier bills against our system of record for accuracy
– Single bill for all carriers with detailed report on enrollees, elections and premium amounts
– Remit payment in the amount due to each carrier
– Initiate one ACH debit for total amount due to all carriers

Brett Flanagan joins NueSynergy as Western Regional Director

NueSynergy Insights: February 2018

by | Feb 7, 2018

Introducing NueSynergy’s Consolidated Billing Service

As you may be aware, we recently integrated with Employee Navigator, which allowed us to launch our new Consolidated Billing Service.

This solution consolidates all carrier premiums into one easy-to-review statement and allows employers to pay all carriers with one statement. No longer will employers need to worry about monitoring and reconciling carrier bills.

By partnering with NueSynergy to manage their Consolidated Billing services, employers can allow their staff to concentrate their resources and energy on more business-critical objectives. This is a win-win for everyone involved and we are very excited to expand this service in 2018.

Contact us to learn more

Maximize tax savings with an HSA-compatible HRA

It is no secret that escalating health care costs have drastically altered the employee benefits landscape over the years. Balancing these costs is now a constant struggle for employers across the country. Many have responded by adopting high-deductible health plans (HDHPs) and shifting how they allocate benefit dollars.

To cover the high deductibles, health care spending accounts, such as Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs), have become increasingly popular during this time. They help individuals and families pay for medical expenses and provide for more control over those expenses, which encourages them to become more informed consumers of health care services and products.

Continue Reading on Employee Benefit Adviser

64% of Americans are making this dangerous financial mistake

How much do you spend on health care per month, or per year? How much do you have saved for a medical emergency? It’s important to know the answers to these questions to ensure you and/or your family are financially secure now and in the future.

The 2017 Alegeus Healthcare Consumerism index shows that most Americans are not adequately saving for unforeseen health care expenses. In fact, only 36% of Americans are saving for health care on a monthly basis.

What can you do? For starters, give this article a read to learn more. Originally published on the Motley Fool, author Christy Bieber succinctly breaks down how you can save for health care and avoid the financial mistake 64% of Americans are making today.

Continue Reading on The Motley Fool

Brett Flanagan joins NueSynergy as Western Regional Director

Maximize tax savings with an HSA-compatible HRA

by | Feb 5, 2018

It is no secret that escalating health care costs have drastically altered the employee benefits landscape over the years. Balancing these costs is now a constant struggle for employers across the country. Many have responded by adopting high-deductible health plans (HDHPs) and shifting how they allocate benefit dollars.

To cover the high deductibles, health care spending accounts, such as Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs), have become increasingly popular during this time. They help individuals and families pay for medical expenses and provide for more control over those expenses, which encourages them to become more informed consumers of health care services and products.

An HSA is an individually owned, tax-favored account that allows employees to pay for qualified health care expenses. In order to set up or contribute to an HSA, employees must be covered by an HDHP. Although not required to contribute to employee HSAs, many employers have reduced health care spending even after paying some, or most, of their employees’ deductibles by contributing to their HSAs. Further, unspent HSA funds rollover each year and can be used to supplement retirement income.

An HRA is similar to an HSA; however, there are several significant differences. First, the employer owns and funds the HRA. Each plan year, the employer will determine how much money to contribute to the HRA, set the threshold for when funds are available, as well as what expenses will be considered eligible for reimbursement. Funds may be eligible for rollover, but cannot be invested.

HRAs must be integrated with a group health plan to stay in compliance with health care reform and cannot be offered as a stand-alone plan. HRAs are often paired with an HDHP, although this is not a requirement.

Giving employees the option to choose between a standard HRA or HSA is great for reducing health care costs for the employer, but it’s unlikely one plan will meet all employee needs. One simple – but underutilized – method for expanding the employee benefits offering is to adjust a standard HRA to make it HSA qualified.

There are four HRA plans that are compatible with an HSA:

Limited Purpose
Post-deductible
Retirement
Suspended
There are several advantages to using both an HRA and HSA, such as lower health insurance premiums, greater control over employer contributions, flexibility on plan designs, as well as additional tax savings.

Moving into 2018, all trends indicate consumer-directed plans will continue to grow in popularity. As more employers offer HDHPs alongside HRAs and HSAs, it is important to stay ahead of the competition by taking the necessary steps to maximize all available tax advantages.

Further, competitive employee benefits packages can be a prime tool for recruiting and retaining top talent.

While combining an HRA and HSA is only one method for reducing health care costs and improving the employee benefits offering, it is nevertheless an important step for achieving sound financial wellness and recruiting/retaining top talent in 2018.

https://www.benefitnews.com/advisers/opinion/maximize-tax-savings-with-an-hsa-compatible-hra?feed=00000151-59db-d9eb-add9-5bdf6fd40000

Brett Flanagan joins NueSynergy as Western Regional Director

Did you know you can have an HRA and HSA at the same time?

by | Oct 19, 2017

Healthcare spending accounts, such as Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs), have become increasingly popular over the last decade. They help individuals and families pay for medical expenses and provide for more control over those expenses.

One frequently asked question we receive is, “can I have an HRA and HSA at the same time?”

The answer is yes. Under specific circumstances, you can have an HRA and HSA at the same time.

There are four HRA plans that are compatible with an HSA:

• Limited Purpose
• Post-deductible
• Retirement
• Suspended

Employers must also ensure their HRAs are HSA eligible before employees can utilize both accounts. There are several advantages to using both an HRA and HSA, such as lower health insurance premiums, greater control over employer contributions, flexibility on plan designs as well as additional tax savings.

Is your HRA plan HSA eligible? Are you ready to make the most of your benefits?

Contact us today for a consultation at 855.890.7239 or sales@nuesynergy.com