BASE® Statement Regarding Coronavirus: BASE® Committed to Service Amidst Coronavirus Social Distancing ‑ UPDATED 3.19.2020

BASE® - Giving Thanks for All We Have

As Thanksgiving approaches, BASE® would like to take a moment and thank all of our wonderful Business Partners and clients that we have worked with this year.  In doing so, we would like to highlight some of the amazing words shared with us by our Business Partners and clients.  While Thanksgiving is traditionally known as a time to be thankful for family, friends, and health, these individuals prove we also find ourselves thankful for our financial situations as well.

“The Section 105 BASE® HRA is the most affordable health reimbursement plan that we have found. The staff has been very friendly and helpful from the very beginning. From the guidance offered the very minute we enrolled in the plan to the necessary documentation, we have felt everything has been very easy to understand. My husband and I feel that the staff is very knowledgeable with answers to any questions, and always keeps us informed of compliance issues that might arise in the age of healthcare reform. The best part would be the thousands in additional tax savings each year that wouldn’t be possible without the BASE® HRA in place.

If you are a self-employed farmer or business owner or own a small company looking for ways to save on the cost of out-of-pocket medical expenses and health insurance premiums, BASE® has many HRA options available for you to inquire about.  They have the knowledge to help you get started with the proper option for you.  As a self-employed farming team, we highly recommend the Section 105 BASE®HRA to create a means to save on your taxes each year.“

Colleen E. - BASE® HRA Client since 2004

“We decided to partner with BASE® in order to help our clients navigate the technical details associated with Health Reimbursement Arrangements. Under the direction and support from BASE®, we were able to save our clients thousands of dollars in taxes. BASE® always provides thorough, understandable explanations and their staff is quite helpful.”

Rod R. - Business Partner since 2016

“I have a twelve year relationship with BASE® and they have always done a great job of taking care of my customers.  I have worked with the BASE® HRA and, most recently, the BASE® ERISA Wrap.  The BASE® ERISA Wrap is one product that provides an immediate compliance solution for my clients, and is basically something they have to have.  If I am selling an insurance plan, I let them know the ERISA Wrap is required and immediately connect them with BASE®.  They make it simple for the customers, they provide a quick turnaround time, and I have come to find they are the most inexpensive option in the market.  I believe the BASE® ERISA Wrap has actually helped cement sales when having a conversation with customers, so I would encourage fellow agents to utilize BASE® as part of their sales strategy.  Simply put, BASE® is a quality company, with quality service and quality products.“

Rob M. - BASE Business Partner since 2006

We couldn’t do what we do best without our staff, Business Partners, and clients.  It is our recipe for success, and we are thankful every day.  Contact us to learn more about how you could be thankful for pre-tax savings and compliance, and most importantly, take time to give thanks for everything in your life. 

Proposed Regulations Expand Use of HRAs to Promote Individual and Portable Health Coverage

On October 29, 2018, proposed regulations were issued that will benefit hundreds of thousands of businesses and millions of workers and their families in the coming years.  Below are just some of the provisions being proposed:

  • Health Reimbursement Arrangements (HRA) would be allowed to be integrated with, and to reimburse premiums for, individual health insurance coverage if certain conditions are met.
  • Employers could offer non-integrated HRAs that qualify as excepted benefits if they meet certain requirements.
  • Employers with HRAs that are integrated with individual health insurance could allow employees to use pre-tax cafeteria plan salary reductions to pay any portion of their individual insurance premiums not covered by the HRA.
  • Premium tax credit consequences for individuals who are offered or covered by an HRA that is integrated with individual health insurance.

The Department of Health and Human Services (HHS) also has an individual addition to the proposed rule. This would allow for a special enrollment period for employees and their dependents who gain access to an HRA that is integrated with individual health insurance coverage or are provided with a QSE HRA.

 “Today’s announcement is another example of President Trump delivering on his promise to provide for more affordable health care options for the American people.  More access to association health plans, short-term insurance, and flexible HRAs…,” said U.S. Secretary of Health and Human Services, Alex Azar. 

We can expect these proposed rules to be finalized in 2019 to allow for implementation on or after January 1, 2020. BASE® is keeping a close eye on how these new rules could further business owners opportunity for health care tax savings, efficiencies, and administrative ease.