Spotlight on Medcom
Each month, FSAstore.com features one of our valued partners as part of our newsletter. This month, we are pleased to present a partnership spotlight on Medcom with special thanks to Medcom President, Michael Bracken.
Headquartered in Florida, Medcom is a leading employee benefit administrator, well-known for specializing in exceptional service and a variety of product and service offerings that are designed to help meet the challenges of a rapidly changing work force. Visit Medcom via http://www.emedcom.net/.
Medcom is among the newest FSAstore.com partners. How has your partnership experience been so far?
Medcom: Our partnership has been great so far. FSAstore.com has been very responsive to our needs and questions and helpful in helping preparing timely promotional materials.
How simple was it to roll-out FSAstore.com to your participants? Was integration on your site seamless?
Medcom: It was very simple! FSAstore.com was very quick to provide the banners for our websites and materials to provide to employers and employees. When we needed a change to one of our banners, they were quick to make that happen!
How did your participants respond to the introduction of FSAstore.com?
Medcom: Our participants responded positively. They enjoy having the convenience of using the site for eligible FSA expenses – it has taken out the guess-work and made it easier for them to spend their FSA dollars.
What makes Medcom unique among FSA administrators?
Medcom: Our focus on supporting employee benefit consultants and their client’s in maximizing the value of their fringe benefit programs.
How do you keep participants aware of their FSA deadlines? How do our partnership materials (emails, banners, having a landing page etc.) help?
Medcom: We typically use electronic mail to provide participants with reminders of FSA deadlines.
In which ways do you keep participants informed about changes to their FSAs (i.e. Health Care Reform)? What was your position on the U.S. Treasury changes to the "Use it or Lose it" rule?
Medcom: We use our online portal, email and web based presentations to keep participants informed about regulatory changes that affect them. We were very excited when the rollover provision was added last fall. We provided our clients with information to make an informed decision about adding that provision to help their employees. For those employers who added it, we also provided communications for the employees to know how to properly utilize these funds.
What are your participants most confused about when it comes to their FSAs? [Do you get many questions about eligibility?]
Medcom: Eligibility on items covered is a question we answer often. Some employees also get confused when it comes to the substantiation requirements, so the FSAStore.com partnership has given us a great opportunity to send participants to the website in order to eliminate some of their questions, which also eliminates their need to submit receipts.
How can the industry improve education efforts on FSAs, HSAs and HRAs?
Medcom: We strongly encourage the industry to promote more extensive use of technology solutions like IIAS, so that the overall volume of receipt substantiation is reduced.
Many thanks to Medcom for sharing their partnership experience with us! Check out Medcom via http://www.emedcom.net/