ROSEMONT, Ill. (Jan. 24, 2012) — Flexible Benefit Service Corporation (Flex) announced today they are introducing enhanced Flexible Spending Account (FSA) and Health Reimbursement Arrangement (HRA) products, which are now supported by a more robust benefits administration and reimbursement platform.
The FSA and HRA platform enhancement comes as many employers are evaluating their benefit options in an upcoming world of changes that health care reform will bring. According to a recent study by McKinsey & Company, 45 to 50 percent of employers will definitely or probably pursue alternatives to employer sponsored insurance in the years after 2014. Among these options is offering their coverage through a defined-contribution model, such as an FSA or HRA.
"Flex has been a long-time advocate for consumer-driven strategies and tax-advantaged programs because they create cost-effective health care plans for employers of all sizes," said John DiVito president of Flex. "Our enhanced FSA and HRA platform streamlines the employer and participant experience and offers cutting edge reimbursement solutions."
The FSA and HRA platform enhancements apply to FlexFSA®, FlexHRA® and Flex125® Cafeteria Plans. Key features that the enhanced FSA and HRA platform will bring to employers and their participants include:
The FSA and HRA platform enhancement comes as many employers are evaluating their benefit options in an upcoming world of changes that health care reform will bring. According to a recent study by McKinsey & Company, 45 to 50 percent of employers will definitely or probably pursue alternatives to employer sponsored insurance in the years after 2014. Among these options is offering their coverage through a defined-contribution model, such as an FSA or HRA.
"Flex has been a long-time advocate for consumer-driven strategies and tax-advantaged programs because they create cost-effective health care plans for employers of all sizes," said John DiVito president of Flex. "Our enhanced FSA and HRA platform streamlines the employer and participant experience and offers cutting edge reimbursement solutions."
The FSA and HRA platform enhancements apply to FlexFSA®, FlexHRA® and Flex125® Cafeteria Plans. Key features that the enhanced FSA and HRA platform will bring to employers and their participants include:
- Integrated, informational web portal for employer and participant account access
- Weekly and daily reimbursement options
- Multiple funding options
- Online claims submission with automated e-mail status alerts
- Paperless communication options
- Enhanced reporting capabilities
- Free debit cards with all Health Care FSAs
- And, more!
Flex is hosting informational webinars where health insurance producers and employers can learn more about the enhancements to their FSA and HRA product offerings.
Flex Plans Features Webinar for Health Insurance Producers
<https://flexiblebenefit.webex.com/flexiblebenefit/onstage/g.php?t=a&d=578662399> Jan. 27, 2012 @ 11:00 a.m. CT
Flex Plans Features Webinar for Employers
<https://flexiblebenefit.webex.com/flexiblebenefit/onstage/g.php?t=a&d=578775824> Jan. 27, 2012 @ 2:00 p.m. CT
For more information about Flex, visit www.flexiblebenefit.com or call 888-353-9178.
About Flexible Benefit Service Corporation
Flexible Benefit Service Corporation (Flex), headquartered in Rosemont, Ill., is a leader in the health insurance and benefits administration markets. Since 1988, it has offered cost-effective healthcare solutions integrated with unparalleled expertise, service and technology to health insurance Producers, Employers and Employees. Their two primary divisions include the Flex General Agency and Flex Plans. The General Agency offers health insurance Producers free access to leading health, Medicare and ancillary/voluntary insurance carriers, products, resources and more. The Flex Plans division serves Employers and Employees through its in-house portfolio of benefits administration products that are designed to add cost-effective value to any employee benefits package. Through its comprehensive understanding of the health insurance and benefits administration markets, Flex presents a cutting edge perspective on finding solutions for the rising cost of health care.
