March 2015

 

Happy March from HR Simplified!  The first quarter is quickly coming to a close - I know it seems to come faster each year - we are in full swing for the FLEX claim run out for many of your participants.  We have had a great start to 2015 and want to take a moment to give you a few updates that we are excited to share with you!

2014 Auto Substantiation Rates and Close Down Procedure

 

For the 2014 calendar year, HR Simplified Benefit Card transactions were approved 86% of the time automatically without a request for documentation*.  This means that only 14 out of every 100 benefit card transactions generated a follow up letter/email requesting the supporting documentation all while ensuring plan rules are maintained.  Again, we have to thank you for partnering with us to educate your participants and delivering a consistent message regarding substantiation and why it is a requirement. 

 

As your plan run out period ends you will receive a final report of all transactions that remain unsubstantiated.    When the report is provided you will receive specific information as to how the transactions were addressed on our side prior to them being considered ineligible; in addition to guidance as to next steps.  Your Account Executive is well versed on all aspects of the substantiation process and will be available to address any questions you may have.  

 

*This number represents our entire book of business.  If you'd like to know the percentage based on your participant population, please contact your Account Executive.

New and Improved COBRA Portal

 

Our COBRA Employer Portal has served you well for several years, but as with all online systems a freshening up is necessary from time to time.  We took this opportunity to not only update the look and feel of our COBRA portal, but to also improve functionality based on our thoughts and feedback received from you, our partners.

 

We will be rolling this new site out in stages and your Account Executive will be in touch with you shortly to advise as to what the change means for you and when you'll be moved to the all-new site.  If you'd like to be moved to the new site in one of the earlier stages please let us know and we'll do everything we can to accommodate your request!  

 
Did you know that HR Simplified partners with FSA Store? 

 

FSA Store was founded to make it simple and convenient to spend, manage, and use an FSA. FSA Store is the only e-commerce site stocked exclusively with FSA eligible products, eliminating the guesswork as to what is and is not FSA eligible.  In addition to the 4,000 eligible products available, the site offers educational resources for FSA holders, including a comprehensive Eligibility List.  FSA Store accepts all FSA and major credit cards, offers 24/7 customer service, and free shipping on orders $50+.  

 

We have had great success putting together customized communication plans to educate participants of this great tool.  Please contact your Account Executive if you'd like to discuss options for helping your employees better utilize all of their pre-tax dollars.
Mike Melnychuk
CEO & President HR Simplified, Inc.

"Simply the Best at What We Do"