Product: Health Care Savings Program
Contacts: All participants who are eligible to use their HCSP account (typically this means terminated or retired participants with an account balance, or their beneficiaries)
Date Sent: 11/30
On 11/30 a letter was mailed to all participants who are eligible to use their HCSP funds (generally that means terminated or retired participants with an account balance) giving them notice that effective 1/1/19, Alerus will be the new claims administrator for their HCSP-related claims. The letter included a timeline that clearly outlines important dates related to the transition.
Additionally, participants were notified that the $24 annual fee that is currently assessed to HCSP accounts will be removed as of 1/1 and operational costs will be reduced by 2 basis points ($0.20/$1,000 invested).
The MERS resource website with complete transition details can be viewed here.