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.
Here at BASE® we are celebrating Customer Service Week! All year long, we pride ourselves on providing the best customer service because our clients deserve it. Anytime during business hours when you call BASE®, we have a live representative waiting to answer any and all questions regarding our products and services. We are here to provide tax saving options for employers and their trusted advisors, and want to be an extension of expertise and value.
During Customer Service Week we took time out to recognize the importance of customer service excellence. Emily L., one of our Service Specialists, shares her favorite part about working with clients on a daily basis and what makes BASE® customer service great. “I like working with our clients, because they know they can COUNT on us to listen to them, answer their questions and have the best interest of their business in mind. Our genuine kindness and compassion for our clients, the patience and knowledge that we provide to our clients, and the value and integrity that we maintain as a company is what makes us different,” she says.
Our clients also notice our customer service. Rob. M, a BASE® Business Partner since 2006, shares his experience. “I have a twelve year relationship with BASE® and they have always done a great job of taking care of my customers. Simply put, BASE® is a quality company, with quality service and quality products.”
BASE® also wants to provide easy-to-understand plans. We know that business owners are busy and want to make our administrative services as easy-to-use as possible! Jerry K., a BASE® HRA Client since 2000, shares how effortless working with BASE® can be. “I have always felt the staff was excellent and is always there to answer any questions with effective answers. The plan is straight forward, easy-to-use, and tracking medical expenses is worth the minimal extra effort when the result is a sizable savings.”
These past five days, we not only recognized the importance of customer service, but we celebrated our achievements during Customer Service Week. Part of our core values is to provide the highest degree of service, and to do our best all year round. Call BASE® to see how we can serve you today!
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