FSA Administration

A recent trend in the small employer health benefit area is the growing popularity of flexible spending accounts and health reimbursement accounts. These accounts also called FSA or HRA Accounts, allow employers and employees to use pretax dollars to pay for certain personal expenses usually not covered by an employee's insurance.

There are two types of FSAs: health care FSAs and dependent care FSAs. As the names imply, the former is for reimbursing health care expenses, including any insurance deductibles and co-payments, and the latter is for reimbursing dependent care expenses, such as daycare or sitter fees.

In an FSA, employees agree to payroll deductions to put pre-tax dollars into an account and then use the funds during the year for reimbursement of certain types of expenses. At present, they are permitted under federal law, so they qualify for federal income, Social Security, and Medicaid tax breaks, plus state income tax breaks in many states.

HRA accounts are used in conjunction with high deductible health plans to reimburse employees on a pre-tax basis for eligible medical expenses. With the savings from the high deductible health plan the employer funds an account to reimburse employees for the difference between the deductibles.

Benefit Express provides full service FSA and HRA administration services and takes care of all the day to day responsibilities associated with providing these services. We want you to be able to provide a money saving benefit to your employees that is not hampered by administration concerns for you or your employees.

Let Benefit Express manage the day-to-day administration of your Flexible Spending Account program. It’s an important function, but you have other responsibilities that demand your attention. Let our Call Center and self-sufficiency tools provide the quality services that your employees expect.

Our services help your Human Resources staff when we provide the following support:

• Review legal plan document
• Create management reports and payment summaries (on a weekly or monthly basis)
• Manage payroll interface and direct deposit services
• Administer the “run out” processing period each plan year
• Generate a forfeiture report at the end of the first quarter following the plan year
• Run non-discrimination testing

Our services help your employees because we:

• Enroll participants
• Review and pay claims
• Mail checks and reimbursement explanations directly to participants’ homes
• Address participant questions in our Customer Service Center
• Generate quarterly participant statements
• Distribute remaining balance and forfeiture warning letters

Service and savings - that is our mission...

For additional information about how Benefit Express can assist your company, please contact us by clicking here or call us at 1.877.837.5017.