The Greater Southern Dutchess Chamber of Commerce has done a lot of work over the past several years in reviewing our benefits plan which are offered to Chamber members. Our objective was to diversify our product offerings, increase our focus on customer service while controlling cost and enhancing quality.

The end result is our ability to provide broad, new health offerings including innovative products that clearly amount to affordable medical insurance for you and your small business. GSDCC members will have access to diverse offerings including a Signature Series Wrap Plan, Oxford Sole Proprietor Medical Insurance plan and a host of other community rated plans from which to choose.

Click here for up-to-date rate information

We are excited about our new offerings, which this year includes new free flexible spending accounts for those who qualify. 

What is it?

A Flexible Spending Account (FSA), also called a flex plan or reimbursement account, is an employer-sponsored benefit that allows you to pay for eligible medical expenses on a pre-tax basis (there are also similar accounts for dependent and child-care expenses). If you expect to incur medical expenses that won't be reimbursed by your regular health insurance plan, you should be taking advantage of your employer's FSA if one is offered.

 

How Does a Flexible Spending Account Benefit Me?

An FSA saves you money by reducing your income taxes. The contributions you make to a Flexible Spending Account are deducted from your pay BEFORE your Federal, State, or Social Security Taxes are calculated and are never reported to the IRS. The end result is that you decrease your taxable income and increase your spendable income. You can save hundreds or even thousands of dollars a year.

 

How Do Flexible Spending Accounts Work?

At the beginning of the plan year (which usually starts January 1st), your employer asks you how much money you want to contribute for the year (there are limits). You have only one opportunity a year to enroll, unless you have a qualified "family status change," such as marriage, birth, divorce, or loss of a spouse's insurance coverage. The amount you designate for the year is taken out of your paycheck in equal installments each pay period and placed in a special account by your employer. As you incur medical expenses that are not fully covered by your insurance, you submit a copy of the Explanation of Benefits or the provider's invoice and proof of payment to the plan administrator, who will then issue you a reimbursement check.

 

What Expenses Are Eligible for Reimbursement?

 

Any expense that is considered a deductible medical expense by the Internal Revenue Service and is not reimbursed through your insurance can be reimbursed through the Flexible Spending Account. Examples include:

 

• Fees paid to doctors, dentists, surgeons, chiropractors, acupuncturists, psychiatrists, psychologists
• Expenses for Contact lenses and eyeglasses
• Fees for hospital services, laboratory fees, prescription medicines and drugs, and insulin.
• Inpatient treatment at a center for alcohol or drug addiction; smoking-cessation programs and prescribed drugs to help nicotine withdrawal
• Fees in excess of reasonable and customary amounts allowed by your insurance; co-payments on covered expenses and deductibles
• Prescription drugs or prescription co-pays

 

How Do I Decide How Much to Contribute to My Flexible Spending Account?

 

It's important to give some thought to calculating how much money to contribute for the year, because if you put in more money than you need, by law, you lose it. You have three months after the end of the calendar year to submit claims for eligible expenses incurred during the previous calendar year. Any money left in your account after the three months will be forfeited. To determine how much to contribute, make a list of the expected out-of-pocket medical expenses for you and your dependents for the next year. For example, if you always exceed your deductible, include the deductible amount in your calculation. Be conservative so you don't risk forfeiting any money.

 

Networking opportunities. Every month, we present events that are carefully designed so our members can make contacts and find fresh, new leads. Monthly membership meetings, business breaks, and networking roundtables are just a few of our regular events. Check out our upcoming events.

Use of the large conference room. Need a place to hold a seminar or meeting? Save dollars on renting space! Members may use the large conference room in our building. Please contact the Chamber at 845-296-0001 for more information on how to reserve this room.

Reduced rates on health and dental insurance. Several plans are available. Contact us for rates and enrollment periods.

Reduced fees for Chamber events. To increase your exposure, we open our events to non-Chamber members. However, in most cases—as part of Chamber membership—members pay significantly less. Check out our upcoming events.

Advertising opportunities. Only Chamber members are offered the opportunity to advertise in our materials, like our newsletter, Chamberviews, on our Web site, and in our annual directory and business to business guide. For more information about advertising, click here.

Event sponsorship opportunities. Only Chamber members are invited to sponsor our many special events. For more information on event sponsorship, click here or e-mail us.

Referrals. The Chamber receives hundreds of inquiries every month from the public looking for business referrals. We only refer Greater Southern Dutchess Chamber of Commerce members.

Member Referral Program. This program can save you money and is easy to participate in! If you refer a business or organization, you will receive $30 of Chamber Bucks that you can redeem for Chamber-related services. Participate today!

Notary Public Service. Through our office, members have access to Notary Public service free of charge. A Notary Public is a public servant appointed by state government to witness the signing of important documents and administer oaths. Please contact our office to make an appointment.

Relocation lists. Our office maintains weekly and monthly lists of relocation inquires. Only Chamber members can purchase these lists to add to their prospective client base. Contact us for more information.

Chamberviews in your mailbox. Our newsletter is mailed to our members and distributed to prospective members, offering details on our upcoming events, member news, and issues that may affect you, your business, and our community. Check out past issues. The second Wednesday of each month it is an insert in the Poughkeepsie Journal reaching 21,000 in distribution.

Grand opening assistance. Growing business in our area is what we're all about! We are pleased when new businesses open their doors in our community, so offering new members opening assistance is our pleasure.

Member news updates. Whenever possible, we strive to keep you up to date on the latest news from fellow members. To submit your news, contact us.

Business counseling. Free direct counseling with representatives from the Service Corps of Retired Executives (SCORE) and Chamber staff provides a wide range of management and technical-assistance services. To make an appointment with a SCORE representative, contact us.