Monthly Archives: October 2010

New HRA Technology

October 1st, 2010

Published October 2010 BASIC is pleased to announce new technology for the administration of our BASIC HRA clients starting with their next renewal. The Enhancements Include: Support more powerful HRA plan designs Comply with MSP/CMS filing requirements for HRA plans Carrier integration for eligibility and claim processing Carrier and PBM integration for automated debit card...

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Independent Contractors: Costly If Misclassified

October 1st, 2010

Published October 2010 During times of economic downturn, many businesses increase their use of Independent Contractors (IC) to complete work and avoid the extra cost of an official employee. By hiring an IC, the business can avoid having to match federal and state withholding for taxes, Social Security and Medicare, unemployment benefits and any additional benefits...

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BASIC’s Quiz Series – Test Your FSA Knowledge

October 1st, 2010

Published October 2010 Choose the most correct answer for each question. The answers are at the bottom of the page. 1)       What happens if an employee leaves the company and the flex account is in a negative balance? A)      The overspent amount is considered a loss to the employer and is the risk of the...

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The Rising Cost Of Healthcare: What Is Causing It And What Can Your Business Do To Cut These Costs?

October 1st, 2010

Published October 2010 Health care costs have been increasing in the United States for the past several years. However, the severe increase in healthcare lately has been forcing employers to pass the burden onto U.S. workers. The average worker with a family plan pays virtually $4,000 a year, which is a 14% increase from 2009...

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