. . You can streamline your commuter program and add revenue?
> Quick Implementation
> All Major Metro Areas Covered
> Fully Automated
. . . We can
manage your HIRD Form process? Are you complying with your 30-day
> After Open Enrollment
> New hires who turn
> Employees who drop coverage
Our process is designed to distribute, track and store Employee HIRD
Forms so that you don't have to.
information about any of our services, please contact Jean Sicurella via email or call 617-630-0496.
We use a
client-centered team approach to best meet your needs. For your team
roster, please email us here.
IRS Issues Guidance For The 2013 $2500 FSA Limit
As part of
the Patient Protection and Affordable Care Act, a new $2,500 limit
will be imposed on Medical FSA annual elections beginning January 1,
2013. The IRS recently issued guidance (Notice 2012-40)
related to how the rule will apply to fiscal year plans (non-calendar
year plans, i.e. those not starting on January 1). It indicates that
"taxable year" refers to the plan's "plan year."
Therefore, the rule will not affect any plans beginning prior to
January 1, 2013 and fiscal plan years will not be impacted until the
first plan year beginning on or after January 1, 2013. This is great news!!
Also included: plan sponsors will have until the end of the
Calendar Year 2014 to amend their plan. Other pertinent information
from the guidance:
* The limit only applies to salary reductions; it does NOT apply
to non-elective contributions.
* Unused amounts carried over during a grace period are not
counted towards the $2500 limit.
* Comments are requested regarding use or lose guidance.
If you have questions about these forthcoming changes, please
contact your client consultant: Darla Rosenfeld, Linda Fulton or Max Crosby.
MBTA Fare Increase Effective July 1, 2012
Average Increase Between 20-23%
The MBTA fare increase
will take effect on July 1, 2012. The average fare increase is
between 20-23%. CharlieCard bus
fares will increase from $1.25 to $1.50 and CharlieCard rapid
transit fares will increase from $1.70 to $2.00. This rate change
will be implemented for the July benefit month.
Note: The 12-Ride Ticket will be discontinued effective July 1st and
will no longer be accepted by the MBTA after June 30th.
All 12-Ride Tickets will be replaced with a new 10-Ride CR Adult Fare
Ticket so that there is no interruption in benefit service to the
participant. If the participant does not want 10-Ride Tickets, they
must update their order accordingly before their respective cut-off
Crosby has sent an email notification to all affected commuter
Enhancing The Client & Participant Experience
Reimbursement Portal Features Added
Reimbursement Account Portal was recently updated with a host of new
features that are now available to both clients and participants. We
are excited to be able to share these enhancements with you.
may download a statement containing transactions of a specific
account. This feature is located on the employee Account
system will now save usernames for Client users via the Employer
login. Just click the "Do you want to remember this
computer for future use" button on the login page to save
this information (client only).
claim amounts have been added into the forfeiture amount in the
forfeiture report (client only).
Card member detail reports no longer include duplicate records
for participants with multiple elections (client only).
* * * * * * *
* * * * * * * *
Portal Mobile App Update: As part of our beta testing
process, we are seeking a select number of clients who would like to
test the new Mobile App with your participant population.
Volunteering will require that we turn the Mobile App option on for all
participants. If you are interested, please contact your client
consultant: Darla Rosenfeld, Linda Fulton or Max Crosby.
* * * * * * *
* * * * * * * *
an integrated Health Savings Account?
Let Crosby Help. As HSA
compatible plan offerings grow in popularity, a simplified process is
key. Crosby will assist you with coordinating all delivery aspects of
HSAs, from initial communication to ongoing administration. In
addition to a variety of investment options, account holders will
have 24-hour access to their account information via MyCrosbyBenefits.com
for applicable HSA, FSA and/or HRA accounts, Commuter Benefits and
the E & E Benefits Portal.
To learn more about Crosby's HSA solution, email Darla Rosenfeld or call
Two More Important Items From the IRS
HSA Limits and Proposed Regs For CER Fees
The IRS has
released Revenue Procedure 2012-26 outlining the Health Savings
Account (HSA) Annual Maximums for 2013. The amounts have increased
slightly for 2013 (adjusted for inflation):
Individual: $3,250 (up from $3,100)
Family: $6,450 (up from $6,250)
The HSA maximum annual catch-up contribution will remain at $1,000
for individuals who are age 55 and older.
* * * * * * *
* * * * * * * *
The IRS has
recently proposed regulations for Patient Centered Outcomes Research
Trust Fund Fees (aka CER Fees). These fees will be payable beginning
with plan years ending on or after October 1, 2012. The proposed
rules will apply to self-insured health plans offering HRAs and
Health FSAs that are not an excepted benefit (note: when
referred to below, "FSA" refers only to a Health FSA that
is not an excepted benefit). Fees will be determined based on one of
four acceptable fee calculation methods: Actual Count method,
Snapshot 1 method, Snapshot 2 method or the Form 5500 method.
If the HRA/FSA is stand alone, the plan sponsor must pay the fee with
respect to the average number of covered lives during the plan year.
If the HRA/FSA is integrated with a fully insured major medical plan,
the plan sponsor must pay the fee with respect to the average number
of lives covered under the HRA/FSA during the plan year. An
individual covered under both the HRA AND FSA would not have to be
If the HRA/FSA is integrated with another self-insured major medical
plan of the plan sponsor, each person covered under multiple
arrangements is only counted once. However, if the HRA/FSA covers
anyone who is not also covered under the self-insured major medical
plan, then the plan sponsor must pay the fee with respect to average
number of individuals covered only under the HRA/FSA.
Fees will need to be paid by the plan sponsor. Employers will need to
file Form 720 by July 31 of the year following the calendar year in
which the applicable plan year ended. Payment must be made with the
Outsourced Benefits Administration
Since 1976, Crosby
has developed benefit programs for over 500 organizations. Crosby has
built its stellar reputation by focusing on the design and delivery of quality
benefit services. Crosby offers a wide range of benefit related services
including: FSA, HRA, HSA, COBRA, Commuter Benefit Plans, Enrollment &
Eligibility, Direct Billing, Tuition Reimbursement as well as customized
services. Crosby is dedicated to its "High Tech and High Touch"
approach, focusing on quality, customer service and creative solutions.
Crosby Connection Newsletter is intended for Crosby Client Contacts.
2012 Crosby Benefit Systems