SIEBA, LTD.

Services

Flexible Spending Account (FSA)

Self Funded Plans

• Dental
• Medical

MERP

• Overview

HRA

• Overview
• Online HRA Debit Card Access

Plan Documents

• Premium Only Plans

Fully Insured Plans

• Overview

COBRA Administration

• Overview

Premium Billing

• Overview

Healthcare Reform

• Overview
• First Phase 2010-2011

Debit Card Access

Welcome to SIEBA, LTD.

The 3 last news

Health Care Reform - New definition of "Dependent" - by 05/10/2010 @ 18h50

The IRS has changed the definition of "dependent" for purposes of Tax Free Health Coverage. Effective March 30, 2010, health care reform expanded the definition of "dependent" for purposes of tax free health coverage to include a "child" who will not yet turn age 27 during the year, regardless of whether the child otherwise qualifies as a tax dependent. See IRS Notice 2010-38. A fact sheet is available at: www.dol.gov/ebsa/newsroom/fsdependentcoverage.html FAQs are available at www.dol.gov/ebsa/faqs/faq-dependentcoverage.html.

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Health Care Reform - Impact on Flexible Benefit Programs - by 05/10/2010 @ 18h34

The Health Care Reform Bill will impact Section 125 Plans effective for tax years beginning January 1, 2011. As of January 1, 2011, a Medical Flexible Spending Account (FSA), a Health Reimbursement Arrangement (HRA), and/or a Health Savings Account (HSA) will no longer be able to reimburse expenses incurred as over the counter (OTC) medicines or drugs unless the medicine or drug is "prescribed" (regardless of whether a prescription is required to obtain them). This requirement does not apply to eligible OTC medical items other than medicines or drugs (e.g. bandages, etc.). This limitation takes effect January 1, 2011 without regard to the Plan Year of the HRA or FSA. A Medical FSA election will not be able to be changed during the Plan Year because of this bill.

A new listing of eligible and ineligible expenses will be posted shortly.

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'Benny' Has Joined our SIEBA Team - by 05/29/2009 @ 19h52

‘BENNY’ HAS JOINED OUR SIEBA TEAM

SIEBA, LTD. has added a new debit card option to our FSA and HRA accounts.

What does this mean to you and your employees?

· Convenient access for the employee to their funds

· Savings to the employers in payroll taxes

· More employee participation

· Can be implemented at any time during the plan year or at the beginning of the new plan year.

· Easy to use – works like a debit card

· Limited to specific merchants based on expenses eligible on FSA’s or HRA’s

· There is no PIN number – cannot be used at ATM’s