February Advisor Newsletter
Build Better Benefits
We came out with a new slogan. I can honestly say the best part of the rebranding process is that we founders did not come up with it! In fact, in the end, we could not decide which slogan to choose.
Continuing the Conversation on Voluntary Benefits: Marketplace
Learn about a brand new concept to position voluntary products to any group size and as a sales tool to offer new or existing clients.
Join us for our next webinar with Steve McEwan
Tuesday, March 9, 2021
Take a first look at the Marketplace experience
Employee Benefits Trends for 2021
For many, there is hope we get back to somewhat normal this year. With a vaccine, the rumor is herd immunity by the fall – hopefully!
What do we think this year looks like for trends in our space?
Resources We Love
FAQ's: Marketplace Edition
Do employees pay out of pocket for the products?
The employer sets a plan limit for the year and employees use their available funds to allocate toward any products they wish to purchase. The employer funds the employee's selections as it is drawn directly from the plan allowance.
Are the Marketplace products taxable or non-taxable?
Marketplace is a combination of both taxable and non-taxable products. If the plan is a myFlexplan, both taxable and non-taxable products will show. If the plan is an HSA with Marketplace added, only non-taxable products will show. If the plan is a WSA with Marketplace added, only taxable products will show.
Can you add the Marketplace to any plan design?
Marketplace can be added in addition to an HSA, WSA or myFlexplan. With an HSA or WSA it will only show the add-on options that are non-taxable or taxable respectively.