Understanding Anthem’s New Small Group Network Names

Anthem has 3 networks:  Full, Select and Priority Select. Anytime you see a plan without the word “Select” in it a member has access to the FULL network 60,0000 doctors and hospitals. If you see the word “Select” in the plan regardless if is it a Core, Essential, Preferred or a Premier plan a member would have the narrow “Select” network (which does not include any Sutter doctors). There is a total of about 40,000 doctors. The Priority Select is just for HMO and is slimmer than the “Select” Network. If Bedrosian & Associates can be of any assistance to help you find the medical insurance network that suits you and your family best please do not hesitate to contact...

IRS – New Guidance Pertaining to FSAs & HRAs

On Friday, March 28, 2014, the IRS issued guidance regarding the FSA $500 Carryover and Health Savings Account (HSA) eligibility, in addition to guidance regarding FSA substantiation/correction of health care expenses. IRS Chief Counsel Memo No. 201413005 addresses Flexible Spending Account (FSA) carryovers and Health Savings Account (HSA) eligibility. IRS Chief Counsel Memo No. 201413006 addresses correction procedures for improper FSA payments. Regarding FSA carryovers, the IRS provided the following clarifications: 1. An individual in a medical FSA is not eligible for an HSA, even if the balance consists solely of carryover or grace period amount. 2. In regards to the carryover, this HSA ineligibility will continue for the entire plan year, even if the balance is exhausted earlier in the plan year. 3. In regards to the grace period, this HSA ineligibility will continue for the length of the grace period, even if the balance is exhausted before the end of the grace period. 4. As an alternative, a medical FSA can be designed to allow an individual to elect that the carryover amount be used as Limited FSA, so that the medical FSA is compatible with the HSA. The carryover amount cannot be transferred into any other non-Health FSA or another cafeteria plan benefit. 5. The medical FSA cannot be designed to allow an individual to elect to use the grace period and have it transfer into a Limited FSA unless the Limited FSA is established for all individuals. 6. A cafeteria plan may design the medical FSA so that any election for high-deductible health plan (HDHP) coverage, which makes an individual HSA eligible, can automatically force...
SeeChange Anniversary Change Options Announced

SeeChange Anniversary Change Options Announced

Many SeeChange Health clients took advantage of their Early Renewal Program, locking in their 2013 coverage through November 30, 2014. I’m guessing not all of these groups are overly excited about having a December renewal. Here are the details of SeeChange’s Anniversary Change Options Program: The program is simple. All SeeChange groups that renewed at any time in 2013 (not just December) need only send SeeChange a letter on company stationery requesting the change at least one month prior to the 2014 renewal date they want. The letter must be signed by an officer of the company or the group administrator and, not surprisingly, needs to indicate which of our then-current plan(s) they’re enrolling in. No underwriting. No hassles. Technically SeeChange be canceling their 2013 SeeChange Health Insurance plan and enrolling them in a new 2014 plan at the rates in effect as of the group’s new anniversary date. This means clients can add (or remove) the HMO Combo Program and the Employee Option Program, implement an HRA or HSA, adjust their waiting period and the like. The Anniversary Change Program will be in force throughout 2014. SeeChange will be sending out details by separate email soon. And to state the obvious, this is a voluntary program. SeeChange just wants to give you more choices as they prepare to enter the new world of health care coverage. If Bedrosian & Associates can be of any further assistance please do not hesitate to contact...