Broker Bulletin
Businessolver announcements, information & resources
January 2023
Businessolver + Benefex
We’re expanding our family
In December, we announced a global partnership with Benefex, an award-winning employee platform that delivers HR and benefits experiences world-wide. This partnership will offer end-to-end employee benefits solutions and technology anywhere in the world.
Make sure to take our short survey
It will take less than 5 minutes and you will receive a $5 coffee gift card for participating!
As a broker professional, you know better than anyone that showing solid business value outcomes and positive impacts are critical in driving leadership buy-in of benefits administration vendor decisions. That’s why Businessolver has partnered with an industry leader in Strategic Value Assessments, Intellicap, to deliver top-tier analyses of the business value outcomes and impacts our solutions can deliver to your clients.
Think your client could benefit?
Fantastic! We do too. We can work closely with you to identify and quantify all of the value elements a potential client could experience from Businessolver and present it in an Executive Summary format. We will deliver this alongside you, via a lean and rapid process—only requiring a quick call to do some information gathering. From there, we can work together to deliver:
• A detailed and credible set of data points of the tangible financial value delivered by Businessolver
• Evidence to answer the question "Why Businessolver?"
• The guidelines, objectives, and points of Businessolver accountability that will be built into your Customer Success Roadmap
• The rationale to gain CFO approval, support from key constituents and long-term access to funding for this initiative.
Want to learn more? Contact jbest@businessolver.com and ajockel@businessolver.com.
MyChoice Accounts: Expanding in 2023
What's new and what’s to come with MyChoice® Accounts
Our consumer-direct health care plan member portal got a facelift for 2023, with plans to continue building a better user experience throughout the year.
In late 2022, we released a complete redesign of our member web experience that includes:
- Enhanced claims experience, including real-time status tracker
- Improved flows to help members complete all processes to pay a provider or request reimbursement in one form
- Visual account details and balance reminders
Coming in 2023:
- Virtual wallet for MyChoice Accounts debit cards
- Chip-enabled cards and real-time payment processing
- Native/embedded investment experience with expanded investment options
- Member web enhancements
- Increased mobile app parity
Additionally, MyChoice Accounts will be launching a stand-alone consumer-directed health plan experience. Clients who are interested in a simplified, secure, and continuously innovative CDHP experience for their members can now invest in those services apart from Benefitsolver® administration. Contact us to today to learn more about our MyChoice Accounts upgrades and opportunities.
The Countdown to Vision 2023 is On
Save the date: Thursday and Friday, May 18-19
We’re busy making calls and sending emails, on the hunt for exciting guest speakers and fun events for Vision 2023. While we plan the party, make sure you’re signed up to receive updates on the conference. Last year, more than 1,500 HR professionals and brokers joined us for the virtual event of the year and 2023 will be another one to remember. See you there!
Save the Date: Broker Think & Clink
Sign up now to save your spot
Our next Broker Think & Clink will be happening on March 30, 2023. If you’ve joined our Think and Clink previously, you know it’s filled with great discussions and a fun tasting experience.
Stay tuned for invites with more details. But if you want to make sure you’re the first to know, join our list.
Benefits Countdown
2022 Benefits Technology Innovations
2022 was a year full of changes, innovation, and creativity—all inspired by our clients. Rae Shanahan, Chief Strategy Officer, counts downs the last days of 2022 with a benefits ball drop to celebrate what we’ve accomplished together.
What’s New in Compliance?
W-2 deadline approaching
Tuesday, Jan. 31 is exactly four weeks from today. Employers must provide each employee with their federal wage statement (Form W-2). W-2 forms must reflect imputed taxable income and health plan coverage values. This obligation applies with respect to reportable coverage, whether taxable or nontaxable. Stand-alone dental and vision coverage, health reimbursement arrangement (HRA) contributions, and health FSAs funded solely by employee pretax contributions are exempt from this reporting requirement. Other exclusions also apply depending on the specific facts and circumstances.
What to expect on the 2023 compliance horizon
Ben Conley, partner at Seyfarth Shaw, and Bruce Gillis, Head of Compliance at Businessolver, take a closer look at some of the compliance and regulatory changes coming into effect in 2023 and how they impact employer-sponsored health plans and HR compliance. Watch now.
Stay on top of your compliance deadlines and security to-dos
If you missed our recent compliance and cybersecurity webinar, this guide is just for you. From strategic partnerships to important deadlines and audit suggestions, this checklist is your ticket to an effective risk management strategy in 2023. If this compliance checklist gets you excited, make sure to listen to the 10-minute audio version of the webinar. Download now.