October Advisor Newsletter
Every year, the Sanofi/Benefits Canada survey sparks excitement in the benefits industry, a feeling that I vividly recall from my early career days. For many professionals, dissecting every section of the survey was a ritual, and it was a critical part of preparing for Certified Employee Group Benefits Specialist (CEBS) Fellowship exams. That anticipation is still very much alive, although today, I find myself with a different perspective, and I believe it's time to share it.
Coordinating Insurance with an HSA
Health coverage is like peanut butter. You want to make sure it’s spread out as much as possible, otherwise, you might just take a bite of plain bread or, pay out of pocket for a health claim that could have been covered.
It’s crucial to make the most of every tool at your disposal to ensure you and your loved ones receive the best healthcare possible. That’s why I wrote this article, to shed some light on how employees can seamlessly coordinate their insurance with their Health Spending Account (HSA)
Why are you asking for my Bank Info?
myHSA empowers users to claim their out-of-pocket health and wellness expenses and receive directly deposited reimbursement within just days of claim approval. Gone are the days of waiting for a cheque to come in the mail, and then going to your branch to collect your funds
Important Notices for October
Prepping for Renewal
With renewal approaching, we like to make it easy for you. Use the "Renewal Report" under the Reports tab to get all the details you need when prepping for a client renewal.
Multi-Factor Authentication Update
To enhance security, we introduced Multi-Factor Authentication (MFA) to Advisor and Referral Partner Logins. MFA was officially rolled out as a mandatory step in the login process on September 5th, 2023.
We now offer MFA for Plan Admins and Employees! If you would like to turn this on for any of your clients, please reach out to us at firstname.lastname@example.org.
Please note that MFA for Plan Admins will be a mandatory step in the login process beginning November 2023.
Exciting News 🔥
In November, we’re elevating our customer service to new heights! While we introduce AI for an even smoother and more personalized support experience, rest assured that our commitment to having human agents available for you remains steadfast. Stay tuned for the big reveal!
Future Plan Changes
The feature for future plan changes and employee plan moves are currently on pause due to a pesky backend calculation error involving balances.
While our tech team works on fixing this error, our wonderful Support team is manually helping with these changes. If you could send us an email at email@example.com with all the details of the changes, our team will manually take care of everything for you. They’ll also send you a confirmation on the day of the changes to make sure it all went through.
All about myFlexplan
Switching from myHSA to myFlexplan
So, your client is thinking about moving from a myHSA to a myFlexplan and the broad scope of benefits it provides. Sure, the myHSA is a great option, but myFlexplan is super customizable, and the employees can choose how to optimize their benefits in a way that is perfect for them.
myFlexplan Allocation: A Complete Guide
myFlexplan is taking the spotlight as our fastest-growing plan type (because it's amazing), but with myFlexplan comes a term that might be new to employees: "Allocation."