Offering employees attractive benefits is a great way to improve engagement and retention. For example, FSAs and HSAs are healthcare plans that cover medically-related expenses not included under a traditional health plan. However, many people do not know what is included in an HSA or FSA. Before I became an employee at Medcom Benefits, I had no idea what they were either! 

Do you know the difference between an HSA and FSA?

Both HSAs and FSAs allow people with health insurance to set aside money for health care costs, including deductibles, copayments and...

BIG news for Medcom this week as we launch our new Financial Fitness online learning platform!

Medcom is excited to offer this new finance perk to our HSA and HRA participants, which provides online learning opportunities for investing, saving, and generally growing your wealth. I am not sure about you, but that certainly makes me excited. If there is one thing I am unsure about the most, it is how to invest in my retirement. Granted, I still have several years before that is my reality, but it is never too early to start or too late!<...

The IRS recently provided notice 2020-44 announcing the new PCORI fees for plan years from October 2019 through October 2020. The new fee is an increase of $0.09, from $2.45 to $2.54. While this amount is important to know, it is essential to understand what PCORI fees are and how they affect your ACA Employer Reporting.

PCORI stands for Patient-Centered Outcomes Research Institute. The Patient-Centered Outcomes Research Trust Fund fee is a tax on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans. It assists in funding the institute. Imposed by §§ 4375 and 4376 of...

Medcom Benefit Solutions recently announced a significant and valuable expansion of its Consumer Driven Health Plan division with the introduction of a Disaster Relief Program. The program, Medcom Cares, assists employers looking for time-sensitive and creative financial ways for helping their employees dealing with furloughs, reduced hours, and layoffs due to the COVID-19 pandemic.

Medcom Cares is based on IRS Section 139: Disaster Relief Payments. Section 139 states that employers are allowed to provide "Qualified Disaster Relief Payments" to employees, tax-free, who are affected by a federally declared disaster. A qualified disaster relief payment means any amount paid...