The Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 requires most companies that sponsor group health plans to offer their health plan participants and the participants’ families…
EBC Insights
7 Strategies to Keep the Benefits Conversation Going
With open enrollment season in the rear-view mirror, benefits often fade into the background for most employers until the next open enrollment period approaches.
Empowering Your Benefits Experience: A Recap of 2023 Enhancements
As we step into a new year, we are excited to reflect on the strides we made in 2023 to elevate your experience with EBC. Our valued partners, employers, and participants…
An Introduction to Annual Elections and Common Permitted Election Changes
Prior to each plan year, employees make elections under their employer’s cafeteria plans. This includes, but is not limited to, pre-tax payroll deduction elections for funds…
HSA Security: Protect Your Account From Fraud
Health savings accounts (HSAs) have been rapidly growing in popularity over the last several years, with more than 35.5 million active accounts totaling $104 billion in assets. Since many people choose to save their HSA funds…
2024 FSA and Commuter Limits
The IRS has officially announced, under Revenue Procedure 2023-34, the 2024 flexible spending account (FSA) and commuter limits. FSA Limits The Health Care (standard or limited) FSA annual maximum plan…
4 Ways Employers Can Prepare for the End of the Year
With the end of the year quickly approaching, it’s more important than ever for employers to stay on top of their benefits administration. Depending on what types…
Unlocking the Full Potential of an HSA
While most employees are familiar with, and may even use, a health savings account (HSA), there’s a good chance they aren’t reaching the full potential of the account. Average contributions are just above the…
Offer a Streamlined Experience with an HSA Bulk Transfer
A simplified experience for increased savings and satisfaction. Offering a health savings account (HSA) to participants is a great way to encourage them to start…
Illinois Employers Required to Offer Pre-Tax Commuter Benefits
On January 1, 2024, employers who match certain criteria will be required to offer their employees a transportation benefits program to help provide commuting expenses…