I owa b ankers 105/125 Advantage Plans
description
Transcript of I owa b ankers 105/125 Advantage Plans
Iowa Bankers 105/125 ADVANTAGE PLANS
2010 Employee Benefit Workshop
1
2010 Plan Year End
Communication-105/125 BulletinsComplete Data Gathering Form/ Payroll Calendar
Sent September 24th Due October 18th
Notify employees: OTC changes in plan for 01-01-11Sent September 15th
Reminders: (forthcoming)
1. Notify employees: open enrollment period for online elections for the 125 plan (10-20 to 12-17)
2. Check employee elections for 2011 payroll
3. Complete amendments before 12-31-10
2
Over the Counter Medicine and Drugs:
As of 01-01-11, the rules are changing for over the counter medicine and drugs, excluding insulin.
After 01-01-11, you must have a prescription for any OTC medicine or drug to receive a reimbursement through the flex medical plan. (Cough syrup, cold medicine, aspirin, medicated creams, etc)
Other medical supplies will process as normal. (band-aids, contact solution, crutches, etc)
Refer to the MFSA expense table on website @www.bankers-ins.com
Plan Changes for 2011 - OTC3
Over the Counter Medicine and Drugs:
Any OTC medicine or drug purchased AFTER 12-31-10 must have a prescription. (regardless of plan dates)
If purchased in 2010 and submitted in the 90 day runoff period during 2011, it will be paid.
If your company has the grace period, (2 ½ months to incur prior plan year expenses) any OTC medicine or drug must be purchased by 12-31-10 or it will require a prescription.
2011 – OTC guidelines4
2010 Amendments
Sending in105/125 Bulletin communication
125 Plan Document Amendments: must be approved by Board of Directors, signed, and a copy to IBIS
1. Dependent update definition2. Over the Counter medicine and drug
125 Summary Plan Description Amendments: Identify contact person, then supply participants a copy
1. Dependent definition and OTC update
5
2013 Upcoming Changes
Health Care reform changes for MedFSA
The MedFSA and LFSA will have an annual cap placed on them, per participant, in the amount of $2500. The employer may elect a lesser amount.
This amount is applied per flex participant and does not apply to the dependants. Each plan participant can elect $2500. If both husband and wife enroll in a plan, both can elect the maximum amount set by the plan.
6
Administrative Reminders
Always use current form from our website when a form is necessary. www.bankers-ins.com
Notify IBIS within 30 days of an event to make a change in an election. Use the Change of Status Form. Refer to the plan document and SPD for change of status options.
If you have both a husband and wife who are working at one bank, insured under one health plan, but both elect flex, remember: all health and dental claims will be automated to insured plan members flex. Spouse must submit claims manually that have not been previously submitted.
7
Administrative Reminders
Encourage employees to use website found @ www.bankers-ins.com
Forms (always most current)BrochuresOnline Account Guides105/125 PowerPoint105/125 EOB and employee reportsMedFSA Covered Expense Table
Encourage online enrollment
8
Administrative Reminders
Year End wrap-upCheck your online report for employee election status to confirm plan year 2011 elections. IBIS is not responsible for those who do not enroll.
Report to IBIS by 02-28-11 any corrections to the 2011 annual elections. Must be done within 60 days of plan year start to make a change due to administrative error.
Check your January and February billings also.
9
Administrative Resources10
Administrative Resources
Coming this fall!
Watch for the 105/125 Bulletin Announcement of the new interactive manuals to be placed on the Administrative Website
105 Resource Manual125 Resource Manual
11
105 Resource Manual
ContentsSection 1: 105 Plan OverviewSection 2: 105 Plan ProvisionsSection 3: 105 Administrative
ProceduresAppendix A: 105 Plan DocumentsAppendix B: 105 Plan FormsAppendix C: 105 Plan ReportsAppendix D: 105 Plan
Services/ResourcesAppendix E: IBIS Administrator
WebsiteAppendix F: Employee Self Service
Website
12
105 Resource Manual
Go to 105 Manual for Demo
13
Iowa Bankers Insurance and Services, Inc.
Marketing Representatives
Jolene Mennenga − Northwest IowaJames Johnston − Central and Northeastern Iowa
Don Easter − Southern Iowa
Customer Service: 800-258-1415Marketing Representatives: 800-532-1423
www.bankers-ins.com
14