IBC provides hassle-free administration. We have helped a growing number of companies increase their profits. Today, with health care reform looming and premiums escalating, more and more companies are choosing 105 Self-Funded Health Plans and Cafeteria Plans with flexible spending accounts for employees. Employers can offset a large portion of their insurance premium increases by self-funding health insurance deductibles and reducing payroll taxes. We tailor products and services to meet specific needs and maintain the highest level of customer service.

 

 

Services We Administer

 

                        

 

 

Flex Plan

 

FSA (Flexible Spending Account) is a benefit program that enables pre-tax dollars to be used to pay for eligible out-of-pocket dependent care and health care expenses.

 

With an FSA, you elect to have your annual health care expenses (as outlined above) deducted from your paycheck each pay period in equal installments. Every dollar you contribute to your flex account is tax-free, spendable income.

 

An added feature we offer is the use of a prepaid benefits card, or the Benny Card. The card contains the value of your annual health care election amount so you can use the Benny Card to pay for eligible out-of-pocket medical expenses. You don’t have to pay cash up front or file claims and wait for reimbursement.

 

HRA

 

A Health Reimbursement Arrangement / Account is an employer funded account that enables the employer to reimburse employee qualified medical expenses at any time without tax liability. HRAs vary greatly in design, but are developed to cover the expenses not covered by group health or supplemental plans.

 

An HRA can be “linked” or “unlinked.” A linked HRA is tied to a health plan; the employee has to participate in the health plan to be eligible for the HRA. An unlinked (or stand-alone) HRA is set up to pay certain expenses, such as dental or vision expenses, without any connection to an insurance policy.

 

HSA

 

An HSA is a tax-deferred medical savings account that enables employees enrolled in an HDHP (high deductible health plan) to put aside pre-tax dollars to pay for qualified medical expenses.

 

Wex Health

 

The Wex Health Portal provides 24/7/365 online access. From the portal, consumers can select to view account information, file claims and distribution requests, manage their profile, view notifications, access forms, link to helpful information, and more. First time user will use their first name and last 4 digits of their ss# as the login id, the password would be their date of birth (MMDDYY).

 

Click here to go to the login page.

 

 

Everything can be done on your smart phone. Scroll down to watch the videos to learn more about accessing your account from our mobile app. Search for IBC Benefits in the app store.


 

 

 

 

 

 

Downloadable Forms

 

 

Reimbursement Request Forms

 


 

FSA/HRA Eligible & Ineligible Expenses

 


 

FSA Fact Sheet

 

 

 

 

Watch the video below to learn more about accessing your account from our mobile app (IBC Benefits).

 

 

 

What is a Flexible Spending Account (FSA) and how does it work?

 

 

 

Find out how easy it is to pay for your flex benefits with a prepaid debit card, (Benny Card).

 

 

 

             

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