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Cypress Solution eNews 
February 11, 2011  -  Cypress Benefit Administrators
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We enjoy bringing you information and reminders to help you stay abreast of new Cypress developments and industry compliance requirements. Please let us know how Cypress Solution eNews can be of further service to you.
topIn This Issue:
coloradoCypress Hires Drew Rozmiarek to Lead Colorado Expansion
Cypress is proud to announce a recent addition to our sales staff. Drew Rozmiarek has been brought on to lead the Cypress efforts out of our new branch office in Pueblo, Colorado.
Drew will be directing the expansion of the Cypress sales and marketing efforts in the mountain states, including Colorado, Utah, Wyoming, Nevada, New Mexico and Arizona. He adds over ten years of professional experience to the Cypress sales staff. Learn more from the full news release.     

disclosureDeadline for Creditable Coverage Disclosures Approaching for Some Employers

The deadline is approaching for sponsors of plans that provide prescription drug coverage to furnish Part D-eligible individuals with a notice disclosing the creditable or non-creditable status of their coverage before the beginning of the Medicare Part D annual enrollment period.


Creditable coverage status must also be disclosed to the Centers for Medicare and Medicaid Services (CMS) no later than 60 days after the beginning of each plan year. For those plans that have the more common calendar year plan year, the deadline is March 1. Find more information about deadlines, disclosure/notification rules, who the rules apply to, exclusions and links to forms in the full article.    
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hsataxfreeHSA Contributions & Earnings Now Tax-Free in Wisconsin
On January 24, 2011, Wisconsin Governor Scott Walker signed into law a bill adopting federal rules with respect to Health Savings Accounts (HSA). The bill is retroactive to January 1, 2011, so the full 2011 tax year applies to the new income tax exclusion for HSAs. Find more details and a link to the law itself in the full article.

If you have any questions or are looking for solutions, please feel free to contact us. We are happy to help!
Cypress Benefit Administrators