Medcom recently hosted a webinar discussing the changes the Pandemic made to our Flexible Spending Accounts and Dependent Care. Things are increasingly confusing, so we thought we would take a moment to lay out the changes and considerations moving forward. 

In 2020, the IRS released Notices 2020-29 and 33. In these notices, the IRS stated they will allow unused amounts from FSAs to carryon over through December 31, 2020, for non-calendar year plans. This means that even if the calendar year plan ended in June 2020, the funds remaining in the participant's FSA were still available through...

It is no surprise that with everything happening in 2020, we would round out the year with more complicated legislation about employee benefits. We are thankful for the folks in Washington who worked diligently to bring the Consolidated Appropriations Act, 2021, to the table. It will extend many of the conditions and modifications we were given in 2020 regarding our FSA and Dependent Care accounts. Now, more than ever, it seems, we Americans need help, and we are relieved that our Congress and President passed the legislation early this week.

Earlier this week, Medcom's Senior Legal Counsel, Michelle Barki,...

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!<...