|
|
Did
You Know . . .
|
|
|
. . . You can streamline your commuter
program and add revenue?
> Quick Implementation
> Easy-To-Use
> All Major Metro Areas Covered
> Fully Automated
. . . We can manage your HIRD
Form process?
Are you complying
with your 30-day deadlines?
> After Open Enrollment
> New hires who turn
down coverage
> Employees who drop coverage
Our process is designed to distribute, track and store Employee HIRD
Forms so that you don't have to.
For more information about any of our services, please contact Jean
Sicurella via email or call 617-630-0496.
|
|
Get
A Team Roster
|
|
|
We use a client-centered team approach to best meet
your needs. For your team roster, please email us here.
|
|
|
|
Account Access At Your Fingertips
Training Sessions Available For Web Based Systems
|
|
|
 Crosby offers valuable online tools for participants and
employers utilizing our Reimbursement and Commuter Benefit services,
including helpful management reports that are readily available to
you.
If you need
assistance, require an initial training or if you're ready for
additional training for any of our online systems or ongoing
processes, we are here to help. Please allow us to demonstrate the
tools and options available to you. To schedule a training, please
email your Crosby consultant: Darla Rosenfeld, Linda Fulton or Max
Crosby
Don't forget to help us promote our Go Green! program
for Reimbursement Account holders, offering E-Communications and
Direct Deposit. Enrollees will benefit by receiving many
communications via email and of course, faster claim payments.
Participants may sign up via MyCrosbyBenefits.com.
|
|
Want A Healthy Section 125 Plan?
Make
Sure To Review Your Plans Annually
|
|
|
It isn't
always easy to keep up with the various regulatory and legislative
changes that take place each year in the health and welfare benefits
arena. Crosby recommends that you perform these actions annually to
ensure a healthy Section 125 Plan:
-
Non Discrimination Testing
- Review
Your Plan Documents with SPD
-
HIPAA Privacy Notices for all plans
- Form 5500 filing, if applicable
If you would like assistance with any of these tasks, please email
your Client Consultant: Darla Rosenfeld, Linda Fulton or Max
Crosby.
|
|
News Flash: 2012 HSA Limits Announced
Small
Increases Seen In Annual Maximums
|
|
|
 The IRS has released Revenue Procedure 2011-32
outlining the Health Savings Account (HSA) Annual Maximums for 2012.
The amounts have increased (adjusted for inflation) for 2012:
Individual: $3,100 (up from $3,050)
Family: $6,250
(up from $6,150)
The HSA
maximum annual catch-up contribution will remain at $1,000 for
individuals who are age 55 and older.
|
|
New Commuter Laws In The Works & MTA Update
Recent Commuter Changes Making
Headlines Across The Nation
|
|
|
Recently, two
bills have been introduced by members of Congress (one in the US
Senate and one in the US House) to help relieve commuters of excess
burdens due to rises in gas prices.
The first
bill (S. 1034, aka the Commuter Benefits
Equity Act) was submitted by Senator Charles Schumer (D-NY)
and would set the uniform dollar cap for transit and
parking benefits to $230 a month (an increase of $110 for the transit
portion of the benefit). This law, if passed, also includes a cost of
living increase beginning in 2012.
Additionally, Congressman Earl Blumenauer
(D-OR), has proposed HR 1825, aka the Commuter Relief Act
of 2011. This legislation is directed towards
those who commute to work by bicycle, on foot, via vanpool or public
transit; expanding certain tax credits for both individuals and employers
alike. The following provisions are included in the bill:
Transit
Equity: A uniform dollar cap would be set at
$200.00 per month for the transit and parking benefit transportation
fringe benefits.
Self
Employed Extension of Transportation Fringe Benefits:
Self-employed workers would be allowed to receive transit fringe
benefits when commuting for work purposes.
Vanpool
Credit: A 10% tax credit would be
created vanpool vehicle and service expenditures, providing an
incentive for employers and employees to share their commutes.
Multi-Modal
Transportation: Commuters would be allowed
to combine bike benefits with other transportation fringe benefits as
long as the $200 monthly cap is not exceeded (e.g., individuals could
use the $20 bike credit and still collect up to $180 of their public
transit fringe benefit).
Parking Cash-out: Employers who directly
subsidize their employees' parking expenses would be required to
offer employees who commute in other ways a transit benefit or cash
in lieu of a parking subsidy.
The Metropolitan Transit
Authority of New York (MTA) Long Island Railroad
(LIRR) and Metro-North Railroad (MNR) recently announced that June
30, 2011 is the last day they will accept pre-paid vouchers,
including Commuter Check vouchers, as forms of payment for both Mail
& Ride accounts and purchases at ticket windows. Visit the MTA
website for more information.
|
|
|
Reminder: PO Box / Lock Box Changes Coming Soon
Improved Processes, Functionality, Efficiency Are On The Way
|
|
|
 As a reminder, effective June 30, 2011, Crosby will close PO
Box 929125, Needham, MA 02492. We began the transition away from
this PO Box on January 1, 2010. Our forms and websites have been updated
to reflect this change. FSA and HRA reimbursement requests should be
mailed to: PO Box 25172, Lehigh Valley, PA 18002-5172 (our FSA/HRA
scanning vendor). Postcards with this new address have been mailed to
those who sent mail to the 929125 box since June, 2010. Tuition
Reimbursement requests should be mailed to: 27 Christina Street,
Newton, MA 02461.
 As communicated in our last newsletter, we're in the process of
transitioning to our new banking partner, Rockland Trust. By
partnering with Rockland, Crosby aims to improve its internal
processes, reduce costs, and offer new capabilities. With this change
comes a new bank lockbox address (for receiving COBRA and other
direct bill payments):
"Client Name"
c/o Crosby Benefit Systems
PO Box
981401
Boston, MA
02298-1401
Payments sent to the "old" PO (Lock) Box will be forwarded
for six months. Clients utilizing their own lockbox will not be
affected.
|
|
|
