Benefits Newsletter: August 2023
HSA Contributions for Adult Children on Parents’ Health Coverage
Adult children who are covered under their parents’ high deductible health plans (HDHPs) may be eligible to establish their own health savings accounts (HSAs) and make tax-favored contributions. Although a special rule requires spouses covered by family HDHP coverage to divide the HSA contribution between themselves, this rule does not apply to adult children. If they are HSA-eligible, adult children can contribute up to $7,750 to their HSAs for 2023 ($8,300 for 2024)
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What is ECBM Benefits?
ECBM helps protect and strengthen the financial health of our customers. We approach each client's unique needs utilizing our targeted Strategic Consulting Process. While our ultimate goal is to create a multi-year solution to align your employee benefits program to your business philosophy and strategy, we can also assist you with short and long-term goals.
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If you are looking to partner with ECBM to find an employee benefits solution that is right for your business, click the button below to schedule some time with our dedicated benefits expert. Our team will help customize a benefits plan that helps your bottom line, all while giving your employees the benefits they deserve.
What types of solutions do you offer?
Our benefits team offers a wide range of solutions for your employees, all of which are tailored specifically to your business needs. Below are a few specific services we provide:
Program design & evaluation, advice & recommendations, funding alternatives, contribution strategy & modeling, cost projections & budgeting, benchmarking, marketing & negotiations.
Extension of your HR team, employee communications, vendor management, renewal services, open enrollment support, quarterly face-to-face meetings (or as needed), employee advocacy.
Data analysis, monthly claims dashboard, itemized bill review, reference-based reimbursement, direct contracting, transparency and quality solutions, utilization, and costs trends.
Compliance support, benefits administration, online enrollment solution, COBRA administration, ACA reporting solutions, 5500 form filing.
Wellness & Disease Management
Data analysis, strategic consulting, and vendor selection.
Additional Services Available
Flexible spending accounts, SPD (wrap documents), Total Compensation statements, EDI fees.
Interested in Learning More?
Schedule time to speak with our dedicated benefits specialist, John Barrett. He'll outline a benefits plan fit to your business needs, all while making sure your employees are taken care of.
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Each month, the ECBM Benefits Team releases a newsletter focused on bringing you all the updates, news stories, and helpful articles to make sure you are in the know regarding your benefits program.