
A. An HSA (Health Savings Account) is a tax-exempt account established specifically for the purposes of paying qualified medical expenses (both current and future) for the account holder, their spouse, and their dependents.
A. Any person who has an IRS-qualified High Deductible Health Plan (HDHP) is eligible to open an HSA.
A. An HRA is a Health Reimbursement Account. HRAs are paid solely by your employer. Dollars allocated to the account are available to reimburse an employee or dependents for a portion of his/her deductible.
A. January 1st is the only time each year when eligible dependents may be added to your policy. The only exceptions would be for lifestyle changes such as marriage, adoption, or birth. Please call for more details if adding a dependent outside of Open Enrollment.
A. A dependent is eligible up to the age of 19 unless an unmarried, full-time student, in which case they may remain until age 23 or 25 depending upon the rider selected. In most cases, IBC will be able to verify student status, however, if you are asked to supply verification of full-time status, it is critical you do so immediately to avoid a lapse in your dependent's coverage. Dependents are aged and student verified in April and October. If they are no longer a student or have aged out, they will be removed either April 30 or October 31.
A. You may offer one of the available Medicare Supplemental plans to active employees 65 years or older who are eligible for primary Medicare. The employee must have both Part A and Part B of Medicare. There are multiple options available to Medicare eligible individuals; including Keystone 65 plans, Personal Choice 65 plans, and Security 65 plans. The enrollment material should be submitted at least 60 days prior to the requested effective date for the Personal Choice 65, Keystone 65 and Security 65 plans.
A. Most changes are limited to the January 1st effective date; however there are situations where a change may be permitted later in the year. No change will be accepted by the carrier unless all required paperwork is received. The carrier requires paperwork be submitted at least 40 days prior, if the requested effective date is after January 1st.
A. Yes, the following carrier guidelines must be adhered to in choosing you plans:
A. Open Enrollment is the only time you may add one of the custom UCCI dental plans or the IBC Free Standing vision coverage. Both products require at least 75% participation and may not be cancelled until next Open Enrollment.
A. Yes, gruops with 1 to 10 participants may elect 1 medical plan, 11 to 50 participants may elect 2 plans: groups with 51 + participants may elect 3 plans.
A. If you have less than 20 employees according to government guidelines, carrier guidelines require that the Medicare eligible employees be insured under the Signature 65 with the Blue Rx. Carrier guidelines will not permit a Medicare eligible individual to be insured under a standard policy. The employee must have Medicare Part A and Part B. This would apply to the dependent of an employee if insured under the plan. If you do not currently have an insured under the Signature 65 plan, please contact our Medicare Unit at 1-866-888-6736 for information, or you can email your request for information to medicalmailbox@usi.biz.
A. January 1st is the only time you may change or terminate the dental and vision plans.