Wow, how time flies! August is here and everyone at Crosby is looking ahead to the Fall as we prepare for the upcoming renewal season. This month’s Crosby Connection newsletter has great tips for Open Enrollment, a SAS 70 update, information about our HSA service and more. As always, we have a lot of exciting projects in the works including the redesign of our corporate website expected to launch this Fall.
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Catching the Renewal Wave
At Crosby, we know your annual renewal season can be stressful. We also understand how important it is to properly communicate to your employees about the advantages of their benefits. As we ready ourselves for the upcoming renewal season, here are a few tips to make this season’s renewal go smoothly:
1. Benefit Fairs are a great way to share knowledge with employees and encourage participation in the benefits you offer. As you might imagine, we get requests to participate in many benefit fairs, particularly during the months of October and November. We will make every effort to fulfill your request. As we do schedule participation on a 'first-come-first-served' basis, we encourage you to let us know as soon as possible. If you have already scheduled a fair, please contact us with the following information: - Date of fair
- Time of fair
- Estimated attendance
- Location (please be specific)
- Parking arrangements
- Raffle - should Crosby contribute a raffle prize?
Our policy is to attend one benefit fair for each client (up to 8 consecutive hours; as can be attended by one person) free of charge. Please note that fees for additional attendance may apply. 2. For our clients offering Flexible Spending Accounts (FSAs), Crosby offers a number of ways to boost FSA participation including marketing posters, an electronic FSA presentation and other valuable communication pieces. 3. Finally, if there are any customized communications you would like included in the enrollment packets sent to your employees, please provide them to your Crosby consultant as soon as possible so that we can have them ready for your mailing. If you have any questions, need additional details or would like to schedule a fair, please contact Tina Crosby via email. Otherwise, you may contact your Crosby consultant to learn more about increasing FSA participation and preparing for your renewal season. |
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Does Your Benefits Plan Include HSAs?
Have you considered adding a High Deductible Health Plan to your Benefits mix? Did you know that Crosby can administer your Health Savings Accounts (HSAs)? With the upgrade to our reimbursement account recordkeeping software in the past year, we now offer more options for administering your HSAs, including the ability to integrate our Flex Debit Card into your program. HSAs are a great way to lower premiums for both your organization and your employees while providing plan participants more flexibility to make their own health care choices. As you begin to review your organization's benefit offering for the new plan year, keep in mind that there are many creative options available for providing robust benefits packages while staying within your budget. Let Crosby provide benefit plan design consulting as well as a streamlined approach to the delivery of these benefits while ensuring your plan is compliant. For more information or to discuss your options, please contact your Crosby representative or Susan Tam at 800-462-2235 x142.
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SAS 70 Update
We continue to dedicate ourselves to high standards for our internal controls and processes. To this end, phase one of the SAS 70 Audit is now underway. The SAS 70, or Statement on Auditing Standard 70, is a set of standards developed by the American Institute of Certified Public Accountants (AICPA) for service organizations. These standards are used by auditors to evaluate and report on the internal controls of those organizations. Crosby's pursuit of its SAS 70 designation comes as part of a larger quality initiative that began last year. The purpose of the initiative is to create and promote a culture of quality at Crosby, empowering all employees to participate in our quest for 100% accuracy. We strive to exceed the expectations of each of our clients and provide excellent service to them. By accomplishing this, we enable our clients to become more strategy-focused and thus more successful. Our SAS 70 audit process is one step toward this goal. We anticipate that phase one of this audit process will be completed in the next few months, while phase two should be completed in 2008.
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Upcoming Events
1. Learn about our Commuter & Parking Solution in one of our upcoming webinars:
Tuesday, August 21st from 11:00 to 11:30 or
Thursday, September 6th from 10:00 to 10:30
For webinar details, please contact Susan Tam at 800-462-2235 x142.
2. NEHRA 2007 Annual Conference; Crosby will be exhibiting: When: October 17-19, 2007 Where: Rhode Island Convention Center
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Take Our Survey: Are you moving toward a more Consumer Driven approach for your health care benefits?
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Looking for a Team Roster?
Our organizational design utilizes a client-centered team approach to best meet your needs. We have developed three core service teams to ensure complete quality and only the highest echelon of service for our clients. These core teams include the:
- Billing Accounts Team
- Complex Accounts Team
- Reimbursement Accounts Team
Each member is cross-trained on all lines of service specific to your needs. Please email us here to request a complete roster with contact information.
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Crosby's Flex Debit Card: Many of our clients now offer the Flex Debit Card for FSAs. Our card greatly reduces paper and eliminates the need for participants to wait for reimbursement. It’s a great way to increase employee participation. For more information about our debit card program, please contact Darla Rosenfeld.
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Correction Last month's article, Important Information for Massachusetts Employers, stated that both Employee and Employer HIRD forms need to be submitted to the State of Massachusetts no later than November 15th. However, only Employer HIRD forms, which will be made available soon through the Commonwealth Connector website, will need to be submitted by November 15th, 2007. Employee HIRD forms must be retained by employers for a minimum of three years.
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