BPC's Holiday Hours

As we embark on the holiday season we want to keep you up-to-date on our regular, extended and holiday hours for the months of November, December and January.

Regular Business Hours
Monday - Friday: 8:00am - 5:30PM

Extended Hours for Reimbursement Accounts
Monday - Thursday: 7:00AM - 8:00PM
Friday: 7:00AM - 5:30PM

Holiday Hours
November 27, 2014: Closed
November 28, 2014: Closed
December 5, 2014: 7:00AM - 11:00AM
December 24, 2014: Closed*
December 25, 2014: Closed
December 26, 2014: Open
December 31, 2014: 7:00AM - 12:00PM*
January 1, 2015: Closed
January 2, 2015: Open

*Weekly check processing will take place on Tuesday rather than Wednesday for the weeks of December 22 and 29.

If you have any questions, please contact us at 800-355-2350.

Happy holidays,

BPC Team

Posted on November 21, 2014 .

Health Plan Identifiers Guidance for BPC Plans

The Centers for Medicare & Medicaid Services (CMS) released a set of Frequently Asked Questions addressing many of the outstanding questions surrounding the Health and Human Services' 2012 mandated Health Plan Identifiers (HPIDs) for Controlled Group Health Plans.

Until recently, confusion around which health plans needed to obtain the HPID was widespread, even as the November 5, 2014 deadline has been rapidly approaching. The result was mostly good news for account-based plans.  According to the FAQs:

Posted on November 14, 2014 .

New IRS Rules Allow Greater Flexibility in Health Plan Choices


The IRS  has issued cafeteria plan rule changes that allow for greater flexibility regarding participants' health plan choices.

Effective immediately, cafeteria plans connected to group health plans may be amended to allow participants to change their coverage under two new scenarios.

Scenario One:

Should an employee experience a reduction in hours to less than 30 hours per week, but still qualify for coverage under the group health plan, the employee could be permitted to drop their cafeteria plan election.

Should you consider this change?

This change is most applicable to large employers who rely on measurement and stability periods for determining health plan eligibility. You may also consider the change if you offer group health coverage to eligible employees who work below 30 hours per week.

Scenario Two:

Under the new guidance, employees who drop their group health coverage in order to purchase coverage through a Marketplace may be permitted to drop their cafeteria plan election that is attached to the group health plan.

Should you consider this change?

Implementing this new rule is attractive to employers who want to add increased flexibility to their employee's health coverage choices. It's particularly favorable to employers operating with a non-calender cafeteria plan year.

Key Points and Action Items:

These changes are available immediately. These new rules only apply to changes in group health plan coverage under that cafeteria plan. The event described will not permit an employee to alter their FSA election. To activate them you must contact the BPC team to amend your cafeteria plan by the end of the plan year.

To update your plan to reflect these new changes, please contact us at 800-355-2350 or benefitssetup@bpcinc.com.

Posted on September 23, 2014 .

Increase Employee Retirement Readiness with Automatic Contributions Arrangements

Pre-Retirement Worker

Are your employees on track to be retirement ready? BPC has a solution to increase retirement plan participation and help employees reach their retirement goals. By setting up an Automatic Contribution Arrangement, employers can enroll eligible employees into a plan at a specific salary deferral rate. 

This plan provision increases retirement plan participation, while giving employees the flexibility to opt-out should they choose to do so. Automatic Contribution Arrangements can be set up with a default deferral percentage rate by making a simple amendment to the sponsor's retirement plan document. For plans that charge account fees to participants' accounts, adding the automatic enrollment feature does not increase costs for the employer.

With the IRS-mandated Plan Document Restatement period underway, now is the perfect time to discuss setting up an Automatic Contribution Arrangement for employer-sponsored retirement plans. Please contact the BPC Retirement Team at 800-355-2350 or retirementsales@bpcinc.com.

Posted on July 21, 2014 .

Information Regarding the Heartbleed Bug

The news have extensively reported the OpenSSL security flaw CVE-2014-0160, otherwise known as Heartbleed which affects a large number of web servers worldwide. Rest assured that BPC and our technology partners’ servers and websites have been patched and thus secure and protected against Heartbleed. 

Experts are strongly encouraging all internet users to change their login passwords. 

For more information about the Heartbleed Bug, please visit www.heartbleed.com


Posted on April 11, 2014 .

IRS Announces 2014 Pension Plan Limitations

The Internal Revenue Service announced on Thursday cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2014. Some limits will remain unchanged in 2014 because the increase in the Consumer Price Index did not meet the statutory thresholds for their adjustment. However, other pension plan limitations will increase for 2014. Highlights include:

• Elective Deferral. The elective deferral limit for employees who participate in 401(k), 403(b) and most 457 plans remains unchanged at $17,500.

• Catch-Up. The catch-up contribution limit for employees age 50 and over who participate in 401(k), 403(b) and governmental 457 plans remains unchanged at $5,500.

• Annual Defined Contribution Limit. The limitation for defined contribution plans increased from $51,000 to $52,000

• Annual Compensation Limit. The compensation limit increased from $255,000 to $260,000

• HCEs. The threshold for identifying highly compensated employees is $115,000, the same as in 2013.

• Key Employees. The threshold for identifying key employees for purposes of top-heavy testing increased from $165,000 to $170,000.

• Wage Base. The Social Security taxable wage base is $117,000 in 2014, up from $113,700 this year. (The wage base is determined by the Social Security Administration, not the IRS.)

If additional questions arise, please contact your senior consultant at BPC. Additional charts and resources can be found here.

Posted on November 5, 2013 .

New FSA Policy Allows for Rollover Up to $500

Good news from Washington, D.C.! Today the Department of Treasury issued a press release and informational fact sheet announcing a major policy change relating to Flexible Spending Accounts (FSAs) that has many positive implications for all FSA constituents - including employers and participants. The Department of Treasury has modified its FSA "use-it-or-lose-it" provision to allow a limited rollover of FSA funds. 

Details are as follows:

Effective in plan year 2014, employers that offer FSA programs will have the option of allowing participants to roll over up to $500 of unused funds at the end of the plan year.
Effective immediately (in 2013), employers that offer FSA programs that do not include a grace period will have the option of allowing employees to roll over up to $500 of unused funds at the end of the current 2013 plan year.

For the past several years, BPC has been deeply involved in leading industry efforts to educate and convince Federal policymakers to adopt this major new feature for FSAs. BPC is thrilled that these efforts have borne fruit - and believe that this is fantastic news for all FSA stakeholders.

From our perspective, the major benefits of this new "rollover" provision include:

  • Eliminating the most significant impediment to FSA adoption (use-it-or-lose-it) - creating significant upside for FSA adoption growth, which has been limited over the past several years
  • Enhancing healthcare options and offering greater funds protection for FSA participants, particularly lower & middle income workers who are highly concerned about cash flow
  • Minimizing risk for constituents with unpredictable healthcare expenses, such as those dealing with chronic conditions that may necessitate high-cost procedures/services with ambiguous timing or medical necessity
  • Curbing wasteful & potentially unnecessary end-of- year spending by FSA participants seeking to avoid losing unused funds

Since this was issued today, we are combing through the guidance and more details will follow. You can read the guidance in full here.

Posted on October 31, 2013 .

Important Announcement Regarding Affordable Care Act PCORI Fees

BPC is here to help you understand the regulatory and compliance aspects of Affordable Care Act (ACA) as it relates to your BPC Benefits plans. The enactment of ACA created the Patient-Centered Outcomes Research Institute or PCORI to support clinical effectiveness research and is funded in part by fees paid by health insurance carriers and health plan sponsors. Health care reform imposes PCORI fees on certain health insurers and self-insured health plan sponsors for policy or plan years ending on or after October 1, 2012 and before October 1, 2019.   Only employers whose plan year ended on or between October 1, 2012, and December 31, 2012, are required to report and make a payment by July 31, 2013.

Here are some frequently asked questions regarding Patient-Centered Outcomes Reach Institute (PCORI) fees:

Posted on July 2, 2013 .

IRS Releases New 2014 HSA and HDHP limits

The IRS has released the 2014 cost-of-living adjustments affecting HSAs and HDHPs. Only the HSA contribution limits and the HDHP out-of-pocket maximums will increase for 2014. The HDHP minimum required deductibles will be unchanged. Here are the details:

  • HSA Contribution Limits. The 2014 annual HSA contribution limit for individuals with self-only HDHP coverage is $3,300 (a $50 increase from 2013), and the limit for individuals with family HDHP coverage is $6,550 (a $100 increase from 2013). 
  • HDHP Minimum Required Deductibles. The 2014 minimum annual deductible for self-only HDHP coverage is $1,250 and the minimum annual deductible for family HDHP coverage is $2,500. Both are unchanged from 2013. 
  • HDHP Out-of-Pocket Maximums. The 2014 maximum limit on out-of-pocket expenses (including items such as deductibles, co-payments, and co-insurance, but not premiums) for self-only HDHP coverage is $6,350 (a $100 increase from 2013), and the limit for family HDHP coverage is $12,700 (a $200 increase from 2013).
Posted on May 6, 2013 .

BPC Named to the List of Best Places to Work in Illinois 2013

BPC Named Best Places to Work in Illinois


BPC has been named to the list of the Best Places to Work in Illinois 2013. Best Places to Work is a statewide survey and awards program designed to identify, recognize and honor the best places of employment in Illinois, benefiting the state's economy, workforce and businesses.

 “Being named to the list of Best Places to Work in Illinois is a great honor for BPC because it recognizes the dedication and strong relationships of our professional staff, partners and clients. BPC is intentional about cultivating a corporate culture that focuses on lifting up people and providing service excellence to our co-workers and our clients”, said BPC CEO, Habeeb Habeeb. “At BPC, the administration of employee benefits is simply the service we provide. But we attribute our success and our rapid growth to the passion we have and the high value we place on our relationship with our clients and partners.   Our niche is to place the client and the client’s employees first and to look at things from their point of view. BPC is small enough to care, and large enough to do the job, serving 1800 clients ranging from two to 20,000 employees.”

BPC has approximately 60 employees in Illinois and Indiana and is continuously adding new talent to its growing team and opening new employment opportunities. BPC is comprised of professionals in Benefits Administration, Retirement Administration, Sales, Human Resources, IT, Marketing and Communications, Compliance and Office Support.

Companies from across the state entered the two-part process to determine the Best Places to Work in Illinois. The first part consisted of evaluating each nominated company's workplace policies, practices, and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final ranking. The independent Best Companies Group managed the overall registration and survey process in Illinois and also analyzed the data and used their expertise to determine the final rankings.

BPC will be recognized and honored at the Best Places to Work in Illinois awards ceremony coordinated by The Daily Herald Business Ledger on May 16.

About BPC
BPC, an award-winning third party administrator of employee Retirement and Benefit Plans, is one of the longest operating firms in the Midwest. Since 1979, BPC's certified professionals have been helping businesses on the design, implementation and administration of Retirement Plan Services such as 401(k), 403(b), 457, Money Purchase, Profit Sharing and ESOP; and Benefit Plan Services such as Flex, HRA, HSA, Sec.125 Cafeteria Plans, COBRA, Eligibility Audits, Transportation Plans, and Identity Theft Protection.  

In 2013 BPC became one of the first TPAs in the country to be certified by the Centre for Fiduciary Excellence (CEFEX) for Retirement Plan Administrations Services. BPC was named AAIM Employer's Association Employer of the Year in 2010 and Champaign County Chamber of Commerce Small Business of the year in 2006. BPC is led by Habeeb Habeeb, President and CEO. BPC was founded in 1979 by Chairman of the Board, Scott Reichard. BPC’s headquarters is based in Champaign, Illinois and has offices in Indianapolis, Indiana. Learn more at www.bpcinc.com. 

Posted on May 3, 2013 .