BMC subsidizes memberships to ClassPass, the world’s largest studio and gym network with more than 9,000 studios around the world. Employees who join ClassPass are eligible for a $10 a month discount. You may also use the BMC Fitness Reimbursement Program to be reimbursed for some of your out-of-pocket expense.
If you aren’t interested in a paid membership, you can register with ClassPass to access free videos on demand so you can work out from home or on the go.
The IRS considers the fair market value amount of your ClassPass membership minus what you’ve paid for your ClassPass membership as imputed income. This means you will see this value on your annual W-2 statement, and it will also be subject to taxes and reflected on the second paycheck of each month under the earnings code CP1.
Employee moms who are just getting back to work will be able to access Milk Stork at no cost while traveling on the job. The benefit includes Milk Stork kits with breast milk storage bags, a refrigerated box for packing and a tote if mothers choose to carry milk with them. Watch a demo of the Milk Stork online portal below.
Are you overwhelmed and stressed out about your student loans? You are not alone. Americans owe nearly $1.6 trillion in student debt. A new BMC benefit, IonTuition, can help you manage your student loans more efficiently, pay them off faster and cheaper, and help you live a debt-free life. Features of this no-cost benefit include:
IonManage: can help you plan student loan repayment and includes concierge student loan counseling.
Whole family help: you can grant family members free IonTuition accounts because college costs and student loans impact the entire household.
Concierge Advisory Services: can help you deal with the entire, complex student loan debt lifecycle.
Refinance student loans for lower monthly payments: gives you access to a marketplace of community lenders with high approval rates and unbiased advice.
IonMatch: helps you find an affordable college that graduates high income earners.
To start using this benefit, go to the IonTuition website and create an account.
The Departments of the Treasury, Labor, and Health and Human Services (the Departments) have issued the Transparency in Coverage final rules (85 FR 72158) on November 12, 2020. The final rules require non-grandfathered group health plans and health insurance issuers in the individual and group markets (plans and issuers) to disclose certain pricing information. Under the final rules a plan or issuer must disclose in-network negotiated rates and billed and out-of-network allowed through machine-readable files posted on an internet website. Plans and issuers are required to make these files public for plan policy years beginning in 2022. This material is for information only. Health information programs provide general health information and are not a substitute for diagnosis or treatment by a physician or other health care professional. You can access the BMC machine readable files here.