With in-house administration of your cafeteria plans and funding arrangements, our proven strategies will ensure your benefits package is working for your business.
Our in-house administration covers the following:
A Premium Only Plan enables employees to pay their portion of medical premiums with pre-tax dollars. Both the employer and the employees benefit from this type of plan.
A Flexible Spending Account allows employees to pay for expenses such as deductibles, co-insurance, co-pays, over-the-counter medications, prescription drugs, vision expenses, and dental expenses with pre-tax dollars.
Offering a DCAP allows employers to provide a valuable benefit to employees who have dependent care expenses. It can help employees save money on their taxes, as contributions are made with pre-tax dollars. It can also help attract and retain employees with family or caregiving responsibilities.
A tax-advantaged benefit that allows employees to set aside pre-tax money to cover qualified parking and transit expenses, such as parking fees or public transportation costs for commuting to work.
A Health Reimbursement Account is an employer-funded plan that reimburses employees for incurred medical expenses that are not covered by the company’s standard insurance plan.
A type of health reimbursement account employers can offer to employees who purchase personal health insurance coverage. Employers contribute funds that employees can use to reimburse themselves for qualified medical expenses.
A health reimbursement account that offers limited reimbursement for certain types of coverage, such as dental or vision benefits. It is considered a separate benefit from the employee's primary health plan.
A type of health reimbursement account that allows small employers to contribute tax-free funds to employees to purchase individual health insurance coverage or qualified medical expenses.
Funded by the employer to help employees cover a wide range of eligible expenses related to health and wellness, such as gym memberships, fitness classes, and equipment, or wellness and healthy eating programs. Monies received by the employee are taxable.
Health Savings Accounts, usually referred to as HSAs, are accounts set up to pay for medical care, including dental and vision, and allow employees to build up savings to pay for future medical expenses.
Our experts help you stay ahead of ongoing changes to COBRA, ensuring that you are in compliance with federal regulations.
The Summary Plan Description (SPD) outlines the different benefits provided by employees’ health insurance plan, as well as their legal rights outlined by the Employee Retirement Income Security Act (ERISA).
Form 5500 is the form used to file an employee benefit plan’s annual information with the Department of Labor (DOL).
It can be a major challenge to navigate all the legal and legislative guidelines, data compliance reporting requirements, and state-specific regulations necessary to remain compliant and avoid costly penalties and potential liabilities. Our experts proactively monitor the ever-changing landscape of regulations and legislation that may impact your business—while our isolved HCM system makes tracking, monitoring, and filing easier than ever. Let us give you a helping hand and peace of mind with:
Get in touch today so we can start finding the solutions to help you manage your people and transform your business.