BRI Announces Strategic Growth Initiative
Benefit Resource is committed to its continued growth and expansion in the pre-tax benefit account business with the announcement of the BRI Strategic Partnership and Expansion Initiative. ROCHESTER, NEW YORK—Benefit Resource (BRI) has announced plans for the BRI Strategic growth Initiative in Partnership and Expansion, which will extend its proprietary technology, responsive customer support and […]
Benefit Resource Introduces Mobile-optimized Educational Resource for Pre-tax Benefits
BRiEducation is a mobile-optimized educational resource which provides individuals with everything they need to know about Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs) and Commuter Benefits through the use of video, account summaries, frequently asked questions, calculation tools and mobile enrollment (when offered by the employer). ROCHESTER, NY — Benefit […]
90-day Waiting Period
Health Care Reform prohibits group health plans, which includes certain Health Reimbursement Account (HRA) and Medical Flexible Spending Account (FSA) Plans, from imposing a waiting period in excess of 90 days. This means that any individual who meets the plan’s eligibility requirements must be given the opportunity to commence coverage on or before the 91st day […]
Change in Mileage Rate for Medical Purposes
Change in Mileage Rate for Medical Purposes FSA/HRA/HSA for transportation expenses related to eligible medical care. The standard mileage rate for the use of a vehicle driven for medical purposes will be as follows: for services provided on or after 1/1/2021, the rate is 16 cents/mile. for services provided from 1/1/2020 – 12/31/2020, the rate is 17 […]
BRI Unveils Real-time Balance and Adjudication Alerts
Benefit Resource takes the pre-tax benefit account experience to a new level with the release of BRiAlerts – notifications which provide real-time balance and adjudication alerts for Flexible Spending Accounts (FSAs), Health Reimbursement Accounts (HRAs) and Commuter Benefit Accounts. “We continually strive to create a more convenient and hassle-free experience for our participants. BRiAlerts eliminates any guesswork […]
Important Update: $500 FSA Rollover Now Permitted
The Department of Treasury issued Notice 2013-71 announcing a significant change to how flexible spending accounts (FSAs) are administered by modifying the “use-or-lose” provision to allow a limited rollover of Medical FSA funds. $500 in FSA Rollover Now Permitted in Notice 2013-71, outlined by the following: Employers now have the option to allow participants to roll over up to […]
Reinsurance Fees Affect Certain HRAs
Health Care Reform (HCR) requires certain group health plans to contribute towards the Transitional Reinsurance Program. This program is intended to stabilize premiums for coverage in the individual market during the first three years of Exchange operation. Payment of these Reinsurance Fees affect certain Health Reimbursement Accounts (HRAs). Exempt from these fees are HRAs that […]
Benefit Resource Named to 2013 Inc. 5000 List
Benefit Resource, Inc., a leading administrator of pre-tax benefit accounts, is proud to announce it has been named to the Inc. 5000 Fastest Growing Private Companies for 2013. Benefit Resource was also recognized in the Inc. 5000 List for 2012. “Benefit Resource continues to maintain strong growth while investing heavily in new technology and service […]
Benefit Resource Celebrates 20 Years with Introduction of New Website and Logo
ROCHESTER, NEW YORK, August 7, 2013 – Benefit Resource celebrates 20 years in business with the launch of a new website and logo which reiterates a commitment to the tax-free benefit account industry, including: flexible spending accounts, health reimbursement accounts, health savings accounts and commuter benefit plans. “We started Benefit Resource in 1993 with the […]
Employer Mandate Delayed
The White House has made the decision to have the employer mandate delayed as outlined in the Health Care Reform Law. The employer mandate would have required all employers with 50 or more employees to provide “affordable, quality” health plan coverage beginning in January 2014 or pay a fine. This provision has been delayed until […]
Benefit Resource Expands its BRiMobile App for FSAs, HSAs, HRAs and Commuter Benefit Plans
Benefit Resource introduces expanded functionality for its BRiMobile app, to streamline processes for participants when accessing and managing their pre-tax benefit accounts. “Since we launched the BRiMobile app nearly a year ago, we have seen exponential growth in its use with thousands of participants accessing the app each day. The BRiMobile app provides some of […]
Will HRAs Survive Healthcare Reform?
Since the passage of Health Care Reform, we have kept close watch on the treatment of Health Reimbursement Accounts (HRAs) and what will be considered an “Integrated HRA.” Understand the difference and if your HRAs will survive healthcare reform in 2014 and beyond. Background Under Health Care reform legislation (specifically PHS Act section 2711), health […]
Mass Transit and Parking Limits Increase to $245
IRS released updated Mass Transit and Parking Limits for 2013. The IRS just released Revenue Procedure 2013-15 which announces that the monthly tax-free amount that may be excluded from an employee’s income for qualified parking or mass transit expenses increases to $245 effective January 1, 2013. Benefit Resource is working on system updates and confirmation files to […]
Fiscal Cliff Avoided. Pre-tax Mass Transit Benefits Increase.
Pre-tax mass transit benefits set to $240 from $125. In a last minute scramble to avoid the ‘fiscal cliff’ with a Mass Transit Benefits Increase, the Senate and House passed a bill, and President Obama signed into law on January 2, 2013, which prevents tax rates from increasing for most Americans. In addition to the widely […]
Benefit Resource Releases Industry Leading App
BRiMobile is the first app to support all tax-free benefit accounts including health, dependent care and commuter benefits. Benefit Resource introduces BRiMobile, an industry leading app, the first app designed to access and manage pre-tax benefit accounts for health care, dependent care and commuter expenses. “With the number of smartphone users rapidly approaching 50% of […]
Online Tool Streamlines IRS Expense Verification
New online tool streamlines the IRS Expense Verification process to submit documentation required by the IRS to verify Medical FSA and HRA expenses as eligible. Benefit Resource streamlines processes with the introduction of Beniversal Followup, a new online tool for submitting receipts, repaying ineligible claims or submitting substitute claims. “With a growing online-driven society, we are committed […]
