Companies We Represent

Disability

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Long Term Disability Insurance replaces a percentage of salary when an employee is disabled due to an extended illness or injury. Benefits typically begin after a period of 3 or 6 months, and are payable until the employee is able to return to work or to age 65 if the employee remains disabled. Short Term Disability Insurance provides partial income replacement when an employee cannot work due to a disability that is not job related, such as maternity, illness or injury. The benefit is typically paid for a 3 or 6 month period of disability.

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Flex HRA and HSA Comparison

Description	Flexible Spending Account (FSA)	Health Reimbursement Arrangement (HRA)	Health Savings Account (HSA)
History IRS Code 125	Passed in 1978 IRS Code 105 (h)	Passed in 2002 IRS Code 223	Passed in 2003
Excluded Participants	S-Corp, LLC, LLP, Partnership Owners & their Spouses	S-Corp, LLC, LLP, Partnership Owners & their Spouses	Excludes Medicare enrolled persons
Eligible Medical Expenses	All Eligible Code 213 Medical Expenses	All Eligible Code 213 Medical Expenses / includes health-related premiums and long term care insurance premiums	All Eligible Code 213 Medical Expenses / excludes most premiums except long term care premiums allowed
Who sets the Rules of the Plan	Employer designs the Plan - no special insurance coverage requirements	Employer designs the Plan - no special insurance coverage requirements	IRS mandates HSA must be offered with a high deductible health plan and employee cannot have other insurance coverage
Who can Fund the Plan	Employer and/or Employee	Employer Only	Employer and/or Employee
Funding Requirements	No Pre-Funding Required	No Pre-Funding Required	Must be funded into a Trust Account - limited to federal limit set each tax year - $2,900 single / $5,800 family; 55 years and older can add $900 in 2008 limits
Can the plan be Funded with Payroll Deductions	Yes	No	Yes if included in Section 125 Plan Document; employer & employee contributions displayed on W-2
How are the Funds Paid Out	Available anytime during the Plan Year for reimbursement of eligible expenses	Available anytime during the Plan Year or as accrued (based on plan design) for reimbursement of eligible expenses	Paid from HSA Trust Account as dollars are available for reimbursement of eligible expenses
Can Funds be Carried Forward	No - Unused dollars are retained by the Employer	Carry forward can be allowed based on Plan Design	Carry forward always allowed - Dollars belong to the Account Holder (employee)
Can Funds be Used for other than Medical Expenses	No	No	Yes. Prior to age 65, 10% penalty and taxes; after age 65, normal taxation only
Can Funds be Paid Out in Future Years	No	Yes - based on Plan Design	Yes - Dollars belong to the Account Holder
Are there Discrimination Rules	Yes - Nine tests in all, mostly based on Plan Design /others based on pre-tax dollars paid	Yes - Must be non-discriminatory in design and contributions	Yes - If employer contribution made, must be comparable for similar persons
Portability of Funds	No	No	Yes
Interest on Investment Earnings	No	No	Yes
Tax Advantage: Employee	Employee contributions are pre-tax	Reimbursements are excluded from employee's gross income	Accounts earn tax-free interest and employee contributions are pre-tax
Tax Advantage: Employer	FICA tax savings on employee contributions	Employers may deduct reimbursements for medical expenses as a business expense	FICA tax savings on employee contributions

Companies We Represent

Health

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Health insurance continues to present unique challenges for employers and their employees as demographics change, costs continue to rise and legislation is implemented. The competitive employment market makes it difficult to retain quality employees without an attractive health insurance package. We will assist you in developing a communication strategy with your employees to clearly articulate the value of your benefit plans throughout the year in an effort to decrease expenses while maintaining employee satisfaction.

Newsletters

Flex HRA and HSA Comparison

Description	Flexible Spending Account (FSA)	Health Reimbursement Arrangement (HRA)	Health Savings Account (HSA)
History IRS Code 125	Passed in 1978 IRS Code 105 (h)	Passed in 2002 IRS Code 223	Passed in 2003
Excluded Participants	S-Corp, LLC, LLP, Partnership Owners & their Spouses	S-Corp, LLC, LLP, Partnership Owners & their Spouses	Excludes Medicare enrolled persons
Eligible Medical Expenses	All Eligible Code 213 Medical Expenses	All Eligible Code 213 Medical Expenses / includes health-related premiums and long term care insurance premiums	All Eligible Code 213 Medical Expenses / excludes most premiums except long term care premiums allowed
Who sets the Rules of the Plan	Employer designs the Plan - no special insurance coverage requirements	Employer designs the Plan - no special insurance coverage requirements	IRS mandates HSA must be offered with a high deductible health plan and employee cannot have other insurance coverage
Who can Fund the Plan	Employer and/or Employee	Employer Only	Employer and/or Employee
Funding Requirements	No Pre-Funding Required	No Pre-Funding Required	Must be funded into a Trust Account - limited to federal limit set each tax year - $2,900 single / $5,800 family; 55 years and older can add $900 in 2008 limits
Can the plan be Funded with Payroll Deductions	Yes	No	Yes if included in Section 125 Plan Document; employer & employee contributions displayed on W-2
How are the Funds Paid Out	Available anytime during the Plan Year for reimbursement of eligible expenses	Available anytime during the Plan Year or as accrued (based on plan design) for reimbursement of eligible expenses	Paid from HSA Trust Account as dollars are available for reimbursement of eligible expenses
Can Funds be Carried Forward	No - Unused dollars are retained by the Employer	Carry forward can be allowed based on Plan Design	Carry forward always allowed - Dollars belong to the Account Holder (employee)
Can Funds be Used for other than Medical Expenses	No	No	Yes. Prior to age 65, 10% penalty and taxes; after age 65, normal taxation only
Can Funds be Paid Out in Future Years	No	Yes - based on Plan Design	Yes - Dollars belong to the Account Holder
Are there Discrimination Rules	Yes - Nine tests in all, mostly based on Plan Design /others based on pre-tax dollars paid	Yes - Must be non-discriminatory in design and contributions	Yes - If employer contribution made, must be comparable for similar persons
Portability of Funds	No	No	Yes
Interest on Investment Earnings	No	No	Yes
Tax Advantage: Employee	Employee contributions are pre-tax	Reimbursements are excluded from employee's gross income	Accounts earn tax-free interest and employee contributions are pre-tax
Tax Advantage: Employer	FICA tax savings on employee contributions	Employers may deduct reimbursements for medical expenses as a business expense	FICA tax savings on employee contributions

Companies We Represent

Life

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Life insurance is a financial resource for individuals and their loved ones in the event of death. It is an important element in a complete financial portfolio. Certain types of life insurance provide benefits while an individual is still living. Learning basic life insurance facts will help an individual make an informed decision about the type and the amount of life insurance that is right for them.

Newsletters

Flex HRA and HSA Comparison

Description	Flexible Spending Account (FSA)	Health Reimbursement Arrangement (HRA)	Health Savings Account (HSA)
History IRS Code 125	Passed in 1978 IRS Code 105 (h)	Passed in 2002 IRS Code 223	Passed in 2003
Excluded Participants	S-Corp, LLC, LLP, Partnership Owners & their Spouses	S-Corp, LLC, LLP, Partnership Owners & their Spouses	Excludes Medicare enrolled persons
Eligible Medical Expenses	All Eligible Code 213 Medical Expenses	All Eligible Code 213 Medical Expenses / includes health-related premiums and long term care insurance premiums	All Eligible Code 213 Medical Expenses / excludes most premiums except long term care premiums allowed
Who sets the Rules of the Plan	Employer designs the Plan - no special insurance coverage requirements	Employer designs the Plan - no special insurance coverage requirements	IRS mandates HSA must be offered with a high deductible health plan and employee cannot have other insurance coverage
Who can Fund the Plan	Employer and/or Employee	Employer Only	Employer and/or Employee
Funding Requirements	No Pre-Funding Required	No Pre-Funding Required	Must be funded into a Trust Account - limited to federal limit set each tax year - $2,900 single / $5,800 family; 55 years and older can add $900 in 2008 limits
Can the plan be Funded with Payroll Deductions	Yes	No	Yes if included in Section 125 Plan Document; employer & employee contributions displayed on W-2
How are the Funds Paid Out	Available anytime during the Plan Year for reimbursement of eligible expenses	Available anytime during the Plan Year or as accrued (based on plan design) for reimbursement of eligible expenses	Paid from HSA Trust Account as dollars are available for reimbursement of eligible expenses
Can Funds be Carried Forward	No - Unused dollars are retained by the Employer	Carry forward can be allowed based on Plan Design	Carry forward always allowed - Dollars belong to the Account Holder (employee)
Can Funds be Used for other than Medical Expenses	No	No	Yes. Prior to age 65, 10% penalty and taxes; after age 65, normal taxation only
Can Funds be Paid Out in Future Years	No	Yes - based on Plan Design	Yes - Dollars belong to the Account Holder
Are there Discrimination Rules	Yes - Nine tests in all, mostly based on Plan Design /others based on pre-tax dollars paid	Yes - Must be non-discriminatory in design and contributions	Yes - If employer contribution made, must be comparable for similar persons
Portability of Funds	No	No	Yes
Interest on Investment Earnings	No	No	Yes
Tax Advantage: Employee	Employee contributions are pre-tax	Reimbursements are excluded from employee's gross income	Accounts earn tax-free interest and employee contributions are pre-tax
Tax Advantage: Employer	FICA tax savings on employee contributions	Employers may deduct reimbursements for medical expenses as a business expense	FICA tax savings on employee contributions

Companies We Represent

Dental

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Dental Insurance provides coverage for routine preventive care, general care and major services. An employer sponsored dental plan encourages employees to maintain a healthy lifestyle by seeking regular dental checkups. Many health conditions including diabetes, eating disorders and bone loss generate warning signs that can first appear in and around the mouth before they become major health threats. Dental Insurance is often offered on a voluntary basis requiring the employee to pay some portion of the premium.

Newsletters

Flex HRA and HSA Comparison

Description	Flexible Spending Account (FSA)	Health Reimbursement Arrangement (HRA)	Health Savings Account (HSA)
History IRS Code 125	Passed in 1978 IRS Code 105 (h)	Passed in 2002 IRS Code 223	Passed in 2003
Excluded Participants	S-Corp, LLC, LLP, Partnership Owners & their Spouses	S-Corp, LLC, LLP, Partnership Owners & their Spouses	Excludes Medicare enrolled persons
Eligible Medical Expenses	All Eligible Code 213 Medical Expenses	All Eligible Code 213 Medical Expenses / includes health-related premiums and long term care insurance premiums	All Eligible Code 213 Medical Expenses / excludes most premiums except long term care premiums allowed
Who sets the Rules of the Plan	Employer designs the Plan - no special insurance coverage requirements	Employer designs the Plan - no special insurance coverage requirements	IRS mandates HSA must be offered with a high deductible health plan and employee cannot have other insurance coverage
Who can Fund the Plan	Employer and/or Employee	Employer Only	Employer and/or Employee
Funding Requirements	No Pre-Funding Required	No Pre-Funding Required	Must be funded into a Trust Account - limited to federal limit set each tax year - $2,900 single / $5,800 family; 55 years and older can add $900 in 2008 limits
Can the plan be Funded with Payroll Deductions	Yes	No	Yes if included in Section 125 Plan Document; employer & employee contributions displayed on W-2
How are the Funds Paid Out	Available anytime during the Plan Year for reimbursement of eligible expenses	Available anytime during the Plan Year or as accrued (based on plan design) for reimbursement of eligible expenses	Paid from HSA Trust Account as dollars are available for reimbursement of eligible expenses
Can Funds be Carried Forward	No - Unused dollars are retained by the Employer	Carry forward can be allowed based on Plan Design	Carry forward always allowed - Dollars belong to the Account Holder (employee)
Can Funds be Used for other than Medical Expenses	No	No	Yes. Prior to age 65, 10% penalty and taxes; after age 65, normal taxation only
Can Funds be Paid Out in Future Years	No	Yes - based on Plan Design	Yes - Dollars belong to the Account Holder
Are there Discrimination Rules	Yes - Nine tests in all, mostly based on Plan Design /others based on pre-tax dollars paid	Yes - Must be non-discriminatory in design and contributions	Yes - If employer contribution made, must be comparable for similar persons
Portability of Funds	No	No	Yes
Interest on Investment Earnings	No	No	Yes
Tax Advantage: Employee	Employee contributions are pre-tax	Reimbursements are excluded from employee's gross income	Accounts earn tax-free interest and employee contributions are pre-tax
Tax Advantage: Employer	FICA tax savings on employee contributions	Employers may deduct reimbursements for medical expenses as a business expense	FICA tax savings on employee contributions

Companies We Represent

Vision

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Vision Insurance is often a value-added benefit linked to health insurance plans that have contracted with vision care networks to provide eye care services. Health insurance will generally protect against financial losses due to an unexpected eye injury or disease While vision insurance is a wellness benefit designed to provide routine, preventive eye care such as eye exams, eyewear, and other services at a reduced cost. Vision Insurance is an inexpensive benefit that is well received by employees and promotes wellness.

Newsletters

Flex HRA and HSA Comparison

Description	Flexible Spending Account (FSA)	Health Reimbursement Arrangement (HRA)	Health Savings Account (HSA)
History IRS Code 125	Passed in 1978 IRS Code 105 (h)	Passed in 2002 IRS Code 223	Passed in 2003
Excluded Participants	S-Corp, LLC, LLP, Partnership Owners & their Spouses	S-Corp, LLC, LLP, Partnership Owners & their Spouses	Excludes Medicare enrolled persons
Eligible Medical Expenses	All Eligible Code 213 Medical Expenses	All Eligible Code 213 Medical Expenses / includes health-related premiums and long term care insurance premiums	All Eligible Code 213 Medical Expenses / excludes most premiums except long term care premiums allowed
Who sets the Rules of the Plan	Employer designs the Plan - no special insurance coverage requirements	Employer designs the Plan - no special insurance coverage requirements	IRS mandates HSA must be offered with a high deductible health plan and employee cannot have other insurance coverage
Who can Fund the Plan	Employer and/or Employee	Employer Only	Employer and/or Employee
Funding Requirements	No Pre-Funding Required	No Pre-Funding Required	Must be funded into a Trust Account - limited to federal limit set each tax year - $2,900 single / $5,800 family; 55 years and older can add $900 in 2008 limits
Can the plan be Funded with Payroll Deductions	Yes	No	Yes if included in Section 125 Plan Document; employer & employee contributions displayed on W-2
How are the Funds Paid Out	Available anytime during the Plan Year for reimbursement of eligible expenses	Available anytime during the Plan Year or as accrued (based on plan design) for reimbursement of eligible expenses	Paid from HSA Trust Account as dollars are available for reimbursement of eligible expenses
Can Funds be Carried Forward	No - Unused dollars are retained by the Employer	Carry forward can be allowed based on Plan Design	Carry forward always allowed - Dollars belong to the Account Holder (employee)
Can Funds be Used for other than Medical Expenses	No	No	Yes. Prior to age 65, 10% penalty and taxes; after age 65, normal taxation only
Can Funds be Paid Out in Future Years	No	Yes - based on Plan Design	Yes - Dollars belong to the Account Holder
Are there Discrimination Rules	Yes - Nine tests in all, mostly based on Plan Design /others based on pre-tax dollars paid	Yes - Must be non-discriminatory in design and contributions	Yes - If employer contribution made, must be comparable for similar persons
Portability of Funds	No	No	Yes
Interest on Investment Earnings	No	No	Yes
Tax Advantage: Employee	Employee contributions are pre-tax	Reimbursements are excluded from employee's gross income	Accounts earn tax-free interest and employee contributions are pre-tax
Tax Advantage: Employer	FICA tax savings on employee contributions	Employers may deduct reimbursements for medical expenses as a business expense	FICA tax savings on employee contributions

Companies We Represent

Health Savings Account

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Tax favored healthcare accounts enable employees to use pre-tax dollars to pay out of pocket medical, dental & vision expenses, and sometimes dependent day care expenses, saving them as much as one third or more on the cost. Employers offering tax favored healthcare accounts can save payroll and FICA taxes on employees’ eligible contributions. There are different types of accounts with varying IRS rules and regulations, which should be analyzed prior to implementing a plan.

Newsletters

Flex HRA and HSA Comparison

Description	Flexible Spending Account (FSA)	Health Reimbursement Arrangement (HRA)	Health Savings Account (HSA)
History IRS Code 125	Passed in 1978 IRS Code 105 (h)	Passed in 2002 IRS Code 223	Passed in 2003
Excluded Participants	S-Corp, LLC, LLP, Partnership Owners & their Spouses	S-Corp, LLC, LLP, Partnership Owners & their Spouses	Excludes Medicare enrolled persons
Eligible Medical Expenses	All Eligible Code 213 Medical Expenses	All Eligible Code 213 Medical Expenses / includes health-related premiums and long term care insurance premiums	All Eligible Code 213 Medical Expenses / excludes most premiums except long term care premiums allowed
Who sets the Rules of the Plan	Employer designs the Plan - no special insurance coverage requirements	Employer designs the Plan - no special insurance coverage requirements	IRS mandates HSA must be offered with a high deductible health plan and employee cannot have other insurance coverage
Who can Fund the Plan	Employer and/or Employee	Employer Only	Employer and/or Employee
Funding Requirements	No Pre-Funding Required	No Pre-Funding Required	Must be funded into a Trust Account - limited to federal limit set each tax year - $2,900 single / $5,800 family; 55 years and older can add $900 in 2008 limits
Can the plan be Funded with Payroll Deductions	Yes	No	Yes if included in Section 125 Plan Document; employer & employee contributions displayed on W-2
How are the Funds Paid Out	Available anytime during the Plan Year for reimbursement of eligible expenses	Available anytime during the Plan Year or as accrued (based on plan design) for reimbursement of eligible expenses	Paid from HSA Trust Account as dollars are available for reimbursement of eligible expenses
Can Funds be Carried Forward	No - Unused dollars are retained by the Employer	Carry forward can be allowed based on Plan Design	Carry forward always allowed - Dollars belong to the Account Holder (employee)
Can Funds be Used for other than Medical Expenses	No	No	Yes. Prior to age 65, 10% penalty and taxes; after age 65, normal taxation only
Can Funds be Paid Out in Future Years	No	Yes - based on Plan Design	Yes - Dollars belong to the Account Holder
Are there Discrimination Rules	Yes - Nine tests in all, mostly based on Plan Design /others based on pre-tax dollars paid	Yes - Must be non-discriminatory in design and contributions	Yes - If employer contribution made, must be comparable for similar persons
Portability of Funds	No	No	Yes
Interest on Investment Earnings	No	No	Yes
Tax Advantage: Employee	Employee contributions are pre-tax	Reimbursements are excluded from employee's gross income	Accounts earn tax-free interest and employee contributions are pre-tax
Tax Advantage: Employer	FICA tax savings on employee contributions	Employers may deduct reimbursements for medical expenses as a business expense	FICA tax savings on employee contributions