GREENSBORO, N.C., Oct. 6 /PRNewswire/ -- Stanley, Hunt, DuPree & Rhine (SHDR) is rolling out a major enhancement to its consumer-directed health plan administration services. The new offerings enable brokers and agents to offer customized plans that simplify and automate the administration and management of Health Reimbursement Arrangement (HRA) for plans. The enhancements will go into effect January 1, 2011.
Employers can "stack" or combine HRA plans with other accounts such as Flexible Spending Accounts (FSAs) and access the accounts through a shared SHDR Benefit Access Card. In addition, employers can automate which account is accessed first for claims. Plan rules and parameters are managed automatically during claim adjudication or settlement to ensure that HRA plans are administered to each employer's specifications.
"These enhancements create easy-to-use and easy-to-administer tools for brokers, agents and employers. Our enhancements will facilitate value-added services and processes on behalf of employers and plan participants," said Phillip Floyd, President. "We continue to assess industry-wide needs and provide timely, user-friendly and cost-effective solutions for consumer-directed health plans."
The new HRA capabilities automate and enforce rules for a variety of HRA plan designs including:
About Stanley, Hunt, DuPree & Rhine
Stanley, Hunt, DuPree & Rhine, Inc., a wholly owned subsidiary of BB&T, is an employee benefits consulting firm that develops employee benefit solutions user-friendly, cost-effective strategies.
SHDR provides a wide range of products and services, including HRAs, FSA, Health Savings Accounts (HSA), healthcare/dependent care, COBRA administration services, Transportation Spending Accounts (TSA) and Premium Billing Arrangements.
About BB&T Corporation
BB&T Corporation (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with more than $155.1 billion in assets and market capitalization of $18.2 billion. Based in Winston-Salem, N.C., the company operates 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at http://www.bbt.com.
SOURCE BB&T Corporation