News - American Benefits Group

American Benefits Group (ABG) Upping the Benefits Administration Game

December, 14 2020 (comments: 1)
Category: CDHC, COBRA, Flexible Spending, FSA, Health Reimbursement, Health Reimbursement Arrangements, Health Savings, HSA, Transit and Parking Section 132,

American Benefits Group (ABG) Upping the Benefits Administration Game

In recent years, the US’ employee benefits landscape has rapidly evolved owing to factors such as escalating healthcare costs, changes in employment and benefits laws, and new initiatives and options in healthcare benefits. As employers continue to explore various ways to manage the costs and strategic design of their health benefits programs, integrated consumer-driven accounts such as Healthcare FSA, Health Savings Accounts (HSAs), and Health Reimbursement Arrangements (HRAs) play an instrumental role to empower participants with the tools they need to manage their health care spending and out of pocket costs. Delivering comprehensive tools and guidance to manage these accounts in one place with access real time healthcare cost and quality assessment tools and data is a responsibility that Massachusetts-based American Benefits Group (ABG) take very seriously.

Read full Article at MANAGE HR

American Benefits Group is Featured in the current edition of BusinessWest

October, 13 2015 (comments: 0)
Category: CDHC, COBRA, Flexible Spending, FSA, Health Reimbursement, Health Reimbursement Arrangements, Health Savings, HRA, HSA, Section 125 Plans, Transit and Parking Section 132,

When Bob Cummings started out in benefits administration, health-insurance co-pays were $3, premiums were well under $100 a month, his office ran on MS-DOS, and it issued paper statements. Much has changed since then, obviously, but not his company’s success formula, based on personalization, creativity, knowledge of a complex and ever-changing subject, and what American Benefits Group prefers to call ‘enabling technology.’

George O'Brien on October 5, 2015 in BusinessWest

See the entire American Benefits Group story in the October 5th Issue of BusinessWest and BusinessWest.com
http://businesswest.com/blog/abg-thrives-in-complex-world-of-benefits-administration/

Robert Cummings Elected President of NAPBA

July, 14 2015 (comments: 0)
Category: CDHC, Flexible Spending, Health Reimbursement, Health Savings,

Northampton - Robert Cummings, CEO and founder of American Benefits Group of Northampton, Massachusetts, has been elected President of the National Association of Professional Benefits Administrators (NAPBA) . . .

Published in The Republican, Business Monday - http://www.masslive.com/business-news/index.ssf/2015/07/people_in_business_robert_cummings_of_am.html

IRS Provides Guidance to Determine Minimum Value and Affordability Rules for HRAs, HSAs and Wellness Incentives

May, 6 2013 (comments: 0)
Category: CDHC, Compliance and Regulatory, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, IRS, PPACA, Taxes,

On April 30, 2013, the Internal Revenue (IRS) released proposed regulations which provide guidance on health care reform’s premium tax credit for the health insurance exchanges.

Consumer Engagement Is The New Healthcare Reality

December, 24 2012
Category: Cafeteria Plans, CDHC, Flexible Spending, FSA, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, PPACA, Section 125 Plans,

Every so often it seems another round of surveys is released demonstrating the strong, continual growth of the consumer-directed health care (CDHC) market and the accompanying behavioral shift in how Americans approach buying health care. This month has

Important Information Regarding the PPACA Summary of Benefits and Coverage Requirement

August, 14 2012
Category: Cafeteria Plans, CDHC, Compliance and Regulatory, DOL, ERISA, Flexible Spending, FSA, Health Care Reform, Health Reimbursement, HRA, HSA, IRS, PPACA,

Group health plans, which include HRAs, MERPs, and non-excepted FSAs, must provide a Summary of Benefits and Coverage (SBC) for all eligible plans to all eligible individuals, participants and beneficiaries.

Summary of Benefit Coverage Requirements for Health FSAs and HRAs

May, 1 2012
Category: Compliance and Regulatory, DOL, ERISA, Flexible Spending, FSA, Health Reimbursement, HHS, HIPAA, HRA, IRS, PPACA, Section 125 Plans,

Does an employer have to provide a copy of the Summary of Benefits and Coverage (“SBC”) to enrollees of Health Flexible Spending Accounts (“Health FSA”) or Health Reimbursement Arrangements (“HRA”)?

HHS issues draft bulletin defining Actuarial Value for Health Plans

March, 1 2012
Category: CDHC, Compliance and Regulatory, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, IRS, Taxes,

The HHS has just issued their draft bulletin on defining the “actuarial value” methodology that will be used to calculate AV for health plans, and it is good news for HSAs and HRAs! The rules DO include the employer contributions to accounts in the calculations, which is tremendously beneficial to the attractiveness of the plans.

Are You Really Saving Money By Self Administering Your HRA?

February, 23 2012
Category: Cafeteria Plans, CDHC, COBRA, Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform, Health Reimbursement, HIPAA, HRA, Medicare, Taxes,

Posted by RENEE KUHS, Compliance Attorney

Do you think you’re saving money by administering your health reimbursement arrangement (HRA)? In our experience, many employers that self-administer an HRA often overlook important compliance obligations that put them at financial risk. Failure to comply with the following requirements is common and can be costly.

EBRI Study - HSA and HRA Accounts Continue Growth Trend

February, 15 2012
Category: CDHC, Compliance and Regulatory, Flexible Spending, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, IRS, PPACA, Taxes,

MyHealthGuide Source: Employee Benefit Research Institute (EBRI), 1/2012, EBRI New Release and EBRI Full Text Brief with Charts.

Health savings accounts surpass $12.4 billion

February, 8 2012
Category: CDHC, COBRA, Compliance and Regulatory, Flexible Spending, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, IRS, Taxes,

By Jenny Ivy
February 1, 2012

By year-end 2011, health savings accounts surpassed $12.4 billion in nearly 6.8 million accounts, according to market research from broker/dealer firm Devenir.

IRS Issues 2011 Version of Publication 969 on HSAs, HRAs, Health FSAs and MSAs

January, 31 2012
Category: Cafeteria Plans, CDHC, Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, IIAS, IRS, Section 125 Plans, Taxes,

Publication 969 has been updated for use in preparing 2011 tax returns. This publication provides basic information about HSAs, HRAs, health FSAs, Archer MSAs and Medicare Advantage MSAs, including brief descriptions of benefits, eligibility requirements, contribution limits and distribution issues.

Health Care Benefits Options for Small Business Owners in the New World

January, 24 2012
Category: CDHC, Compliance and Regulatory, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, IRS, PPACA, State Legislation, Taxes,

Offering comprehensive benefits to employees can help you attract, hire, and retain the best workers. Yet many small-business owners believe that health care insurance is a luxury they can’t afford. The good news: Thanks to new incentives, tax credits, industry reform, and nontraditional plans, health care insurance may be within reach.

New Guidance on Group Health Insurance Coverage Informational Reporting

January, 4 2012
Category: Cafeteria Plans, CDHC, COBRA, Compliance and Regulatory, Flexible Spending, FSA, Health Care Reform, Health Reimbursement, Health Savings, HRA, HSA, IIAS, IRS, PPACA, Section 125 Plans, State Legislation, Taxes,

The IRS has issued new guidance to clarify how employers and benefit plan administrators will need to meet Form W2 health benefit cost reporting requirements, including the treatment of FSAs, HRAs, EAPs and wellness programs, and supplemental coverage.

CMS Cuts Some Slack on HRA Reporting Rules

September, 28 2011
Category: CDHC, Compliance and Regulatory, Health Reimbursement, HRA,

The Centers for Medicare and Medicaid Services (CMS) provided badly needed relief to Health Reimbursement Arrangement (HRA) administrators in an Alert that was issued on Thursday.

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