Frequently Asked Questions

What is a Flexible Spending Account and how does it benefit both employers and employees?

A Flexible Spending Account allows employees to set aside pre-tax dollars for themselves and their dependents to pay for medical, dental and vision expenses not covered by existing insurance. Child care (Dependent care) expenses can also be paid for with pre-tax dollars.

Flexible spending Accounts have become very popular with the huge increases in health care costs. Both the employee and the employer benefit: The employee can typically benefit 30-35% by paying for over-the counter drugs and supplies, co-pays, deductibles, vision expenses, prescriptions, lab fees, etc with pre-tax dollars. Employers save by saving social security and Medicare taxes.

Employees should realize that they are paying for these type expenses regardless and an FSA provides a valuable tax break that produces significant savings.

How can I check on or find out my account balance in my flexible Spending Account?

It's easy! Just go the Flex Administrative Services web site (Look on the back side of your Flex Debit Card) and enter your user name and password. You will find a list of all your previous transactions during the plan year. And your current FSA balance. The Flex web site is http://Flexmember.lh1ondemand.com

I keep hearing about COBRA. What does COBRA mean for my organization?

If you employ 20 or more people and offer them group health insurance, you are required to provide COBRA Continuation health coverage, which allows certain former employees, spouses, former spouses, and dependent children to continue in the group plan at their own expense for a period of time after termination.

While COBRA Continuation coverage is a great benefit to the employee, it can be an administrative difficulty for employers. One study had shown that 75% plus large companies outsource COBRA administration.

Employers are required to comply with a number of standards in administrating COBRA benefits, and there are layers of regulations.

The Stoner Organization will assume the administration of COBRA group insurance continuation on your behalf. We offer a cost effective COBRA Compliance solution, insuring that your firm meets all COBRA compliance regulations.

We provide qualifying event administration including eligibility, election and enrollment materials, notices of COBRA rights, administration of COBRA elections, premiums and coverage periods. Also monthly premium billing, collections and disbursement. And excellent customer service!

What is a Section 105 Plan and how can it help my business?

A Section 105 Plan (Health Reimbursement Arrangement) allows employers set aside a specific amount of money annually for employees and their dependents to use to pay for eligible health care expenses defined by the plan.

There are several benefits to be gained by both employers and employees. First, Savings-by modifying health insurance coverage, a Section 105 Plan can improve benefits plus save premium dollars for the employer and the employee.

Second, this plan will make participants better consumers by serving to put more choices in their hands. By doing this, participants search for the most effective and cost efficient care.

Third, the medical expense reimbursements are tax deductible by the employer and the employer has the flexibility in the design of the plan's provisions, such as establishing maximum amounts for reimbursement and benefits to be offered.

The biggest advantage to employees is that the plan's reimbursement payments are not considered taxable income to employees.

How can a Short Term Disability Program designed by the Stoner Organization benefit both my business and my employees?

Successful businesses recognize the need to attract and retain good employees.

The Stoner Organization strives to help employers in this process by designing comprehensive employee benefit programs. We have found that offering group disability insurance helps to strengthen the overall benefit package.

The addition of a Short Term Disability program provides financial protection for employees and their families in the event of an unexpected disability. In the case of a short term disability it allows an employee to concentrate on getting better and getting back to work.

The employer benefits from knowing that their employee is being financially taken care of without the employer continuing a salary during disability. The employer is able to concentrate on business at hand while the key team member recovers. This can help reduce business interruptions and reduces the cost of training for new employees.

The Stoner Organization can assist with the customization of a Short Term Disability Program. We concentrate on moving claims decision making and administration to reputable insurance carriers. By doing this an employer no longer receives the sensitive employee medical information necessary in the claims process and an insurance carrier, not the employer, has responsibility for claim determination.