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...

The employee benefits landscape is confusing, to say the least. When I first started my career with Medcom Benefit Solutions, I didn't have a clue about HRAs, HSAs, FSAs, or any of the extra benefits employers offer. Honestly, money terms, investment plans, insurance details really make me nervous. I get intimidated by what I don't know and afraid to try to learn more. However, at Medcom I'm encouraged to learn more so I could help others better understand the language and the perks of these additional employee benefits. It has definitely been a learning...

Open enrollment is a confusing time for your employees. They’re lost, dazed, and confused, trying to make heads and tails of which account covers what and how much money they’ll be out of pocket every paycheck for their elections.

You and I both know the critical role tax-advantaged savings accounts play in making healthcare more affordable for employees. Still, employees don’t always recognize the potential cost savings associated with them until presented with real numbers.

The estimated cost of health insurance for...

AHHHH!!! Here we go again with the confusing acronyms! Yes, we get it: this stuff is complicated, especially living in a fast-paced world where we barely have the time to check our voicemails. Forget about answering them! So, let's start, as we usually do, with a definition.

FSA, or Flexible Spending Account, is set-up through employers and can be used for medical expenses, dental care, and vision care. The employee decides how much to contribute for the year, and that amount is deducted from the employee's pay over 12 months before...