Accuchex Blog

Post-Enrollment Administration of Supplemental Benefits

Posted by Leslie Ruhland on Mar 15, 2019 9:00:00 AM

Tempting though it may be, closing the lid on your annual open-enrollment period shouldn’t result in closing the lid on your benefits strategy and communication plan, too. In fact, it may just be the best time possible to start perfecting your plan for next year.     

Once enrollment is complete, you may still have steps to take to implement your employees’ elections and changes. If your benefits provider’s online portal allows employees to make their benefit selections directly, changes to payroll deductions will still need to be communicated to your payroll department or provider. Enrollment information entered on paper forms may need to be keyed into your provider’s benefits portal, faxed, or scanned and uploaded for changes to take effect.

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Topics: supplemental insurance

Supplemental Insurance: Employee Education and Enrollment

Posted by Leslie Ruhland on Mar 13, 2019 8:30:00 AM

To maximize the success of your new or existing supplemental insurance plans, educating your employees about their benefits and giving them the time and resources they need to make educated decisions is critical.     

Once seen as mere perks, supplemental insurance or voluntary benefit policies are increasingly viewed as essential by both employees and employers. As an employer, you want to ensure that the investments you and your employees make in funding these plans provide them with the financial peace of mind they’re intended to deliver. For many employees, however, confusion over coverage, plan options, and enrollment can lead them to miss out on the benefits that would help them the most.

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Topics: supplemental insurance

How to Choose Supplemental Insurance Benefits

Posted by Leslie Ruhland on Mar 11, 2019 9:00:00 AM

You don’t need to be on the Fortune 500 list to afford supplemental insurance benefits for your employees. In fact, you can often offer these benefits at no direct cost to your business. But how do you select the best benefits for your employees?

Savvy employers know that offering a robust benefits package to employees has a positive influence on employee productivity and retention and also helps to recruit top talent. Implementing new benefits is not a step to take without first doing your due diligence, however.

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Topics: supplemental insurance

Year End Reporting FAQ: Supplemental Insurance

Posted by Leslie Ruhland on Mar 7, 2019 9:00:00 AM

Employers who issue at least 250 W 2s are required to include the value of employer sponsored health coverage in box 12 of form W 2. Many employers do not realize that some of their supplemental insurance policies meet the criteria for this reporting requirement.     

The ACA (Patient Protection and Affordable Care Act) was enacted to expand access to affordable health insurance. Starting in 2012, part of the legislation subjected employers to new reporting requirements.

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Topics: supplemental insurance

Supplemental Insurance Taxability and Reporting Requirements

Posted by Leslie Ruhland on Feb 28, 2019 10:00:00 AM

Supplemental insurance policies continue to gain traction as a popular approach to creating more robust benefits packages. Employers should know how these benefits are treated for taxation purposes, and how they can benefit from offering them, as well. 

Supplemental insurance plan premiums may be paid in one of several ways. They may be:

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Topics: supplemental insurance

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