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Flexible Spending Accounts (FSA’s)

Flexible Spending Accounts - At A Glance

An FSA Plan allows your employees to pay for qualified medical and dependent care expenses on a pre-tax basis. Most employers find that the FICA contribution savings will cover the administrative costs! We offer a full-service plan to satisfy the needs of your work environment:

  • Customized account set up, enrollment, educational flyers and communication materials
  • Education and Training
  • Conducting open enrollment sessions with participants on site
  • Online enrollment and claims submission via our web portal
  • Secure site for providing notifications, posting/receiving reports and short term storage of these documents
  • FSAStore.com Partnership
  • 24/7 Secure employee online account access with learning tools
  • Pay the Provider
  • Dedicated Account Manager
  • Accepting and importing electronic file for Open Enrollment Elections
  • Ensuring Plan compliancy
  • Preparing elections report concerning each participant's account
  • Monitoring and verifying all claims and preparing participants' direct deposits or checks
  • Providing a report (Explanation of Benefits) on each participants' direct deposit or check stub
  • Employee account balance notifications
  • Employer notification of regulation and law updates
  • Preparing customized letter for denied claims
  • Maintaining all electronic and physical records regarding claims and reimbursements
  • Archiving records for 7 years
  • Administering 2 1/2 month grace period extension, if applicable
  • Answering all questions concerning Plan logistics and participant accounts via our toll free number at (800) 437-3539
  • Offering 24/7 online participant account access
  • On-site training for benefit staff
  • Perform all Discrimination Tests
  • Employer Reimbursement Cycle Options
  • Funds Reimbursement via Check or Direct Deposit
  • Claims Adjudication and Review Process in accordance with IRS
  • Detailed Reporting
  • FBA Benefits Card

Optional Flex Services

  • Provide Employee Group Presentations
  • Perform all Discrimination Tests
  • FBA Benefits Card
  • Prepare Plan Documents. (Employer will make copies of Summary Plan Description and give to all eligible employees.)
  • Prepare 5500 Form at the end of the plan year if required
  • Automatic Dependent Care Reimbursement
  • Text Message Alerts
  • Takeover Administration

Limited FSA available for HSA participants