Administrative Services
Summary Plan Description (SPD)
Do your health and welfare plans have Summary Plan Descriptions (SPDs)? Many organizations believe they have SPDs because their insurance carrier provides them with a booklet that describes the benefits available under the plan. However, SPDs are not insurance carrier required documents. SPDs are an important requirement of ERISA (Employee Retirement Income Security Act) and they are the ERISA plan administrator, which is most likely your organization.
The information that must be included in an SPD is substantial. Most likely a review of your insurance carrier’s coverage description will show many elements are missing. The SPD is the main vehicle for communicating plan requirements and obligations. It is also the primary tool referred to in any benefit dispute. It is your organization’s responsibility to make sure your SPD includes required elements and communicates your plan in an accurate manner. Penalties for ERISA non-compliance are substantial and can be assess at $110 per day. If you do not have a complete SPD for your health and welfare plans, make it a priority.
Section 125: Premium Only Plans (POP) & Flexible Spending Arrangements (FSA)
A Section 125 Plan provides tax savings by reducing employee compensation to cover specific out of pocket expenses for items like insurance premiums, health care expenses and dependent care expenses prior to calculation of income and FICA taxes, as allowed under Internal Revenue Code (IRC) Section 125.
Such plans may be set up in a variety of ways.
- PREMIUM ONLY PLAN (POP): This term refers only to the ability to payroll deduct pre-tax employee contributions for certain qualified premiums.
This is provided as a service to all clients at NO ADDITIONAL CHARGE.
- FLEXIBLE SPENDING ARRANGMENT (FSA): Plans may be set up to include qualified expenses for dependent care assistance, adoption assistance, and medical care reimbursements.
COBRA
WHAT YOU GET :
- Secure Web-based reporting
- All required notices
- Management of elections and premium payments
- Superior customer support by COBRA Certified Professionals
- Updates on regulations
- Answers to all of your COBRA questions
- Mailing of "certificates of creditable coverage" required under the Health Insurance Portability and Accountability Act (HIPAA) to maintain compliance
Family and Medical Leave Act (FMLA)
- We offer a range of administration options designed to meet both high and low FMLA utilization.
- We offer a single point IVR call-off system to provide turnkey FMLA administration and absentee management
Health Reimbursement Arrangements (HRA)
WHAT YOU GET:
- Assistance selecting a provider that best fulfills your companies needs
- Employee communication and education
ADDITIONAL OPTIONS:
- Self / Third-Party / Carrier Administration
- Plans with secure online access
- Plans with debit card access
- Plans with automatic claims processing
- Account/Insurance integration
Health Savings Accounts (HSA)
WHAT YOU GET:
- Assistance selecting a provider that best fulfills your companies needs
- Employee communication and education
- Medical expense planning tools
ADDITIONAL OPTIONS:
- Access a variety of account investment options
- Plans with secure online access
- Plans with debit card access
- Plans with bill payment service
- Account/Insurance integration
Benefits/Resources Online
WHAT YOU GET
- Access to Benefits, Networks and Employee Election details.
- HR Resource Center
- Document Management Center for HR forms and documents
- Employee Election Admin.
- Employee Change Request Admin.
- Online communication with Agents and Employees
Annual Benefit Statements
Our benefit statement or "hidden paycheck" is a great free feature. By taking into account the cost of benefits, employees get a true understanding of their pay. This understanding can increase employee retention and satisfaction. Click here to see a sample benefit statement.
Online Open Enrollment & Event Election Tools
For employers with large numbers of employees, multiple locations, employee classes and/or many plan options the annual task of open enrollment and related ongoing event elections can be very burdensome and difficult to track. Click here to take a brief tour of our solution.
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