We are prepared to assist you in all aspects, including:
1. Design of your Plan and Summary Plan Description
2. Corporate Resolution
3. Employee Election Forms
4. Employee Claim Forms
5. Adjudication of participant claims
6. Reimbursement of claims
7. Discrimination Testing


Flexible Spending Account Administration

Set-up Includes:

  • Plan Document (signature-ready)
  • Corporate Resolution
  • Summary Plan Description
  • Employee election forms
  • Employee enrollment
  • Claim forms

Basic Services Include:

  • Adjudication of participant claims
  • Discrimination Testing
  • Employer Reports
  • Reimbursement Worksheets provided to employer
  • HIPAA Compliance guidelines
  • Direct Deposit Reimbursement available
  • Debit Card available
  • Website for participants - allows your employees to check the status of their Medical Spending or Dependent Care accounts, online documents, provides information such as, change in status rules, how and where to file claims, tax savings calculations, qualified expenses and much more.

COBRA Administration

Here’s a quick test that will tell you if you are making some of the most common COBRA mistakes.

  • Do you have a COBRA Policies and Procedures Manual? Has it been updated to reflect the requirements of the COBRA final regulations from 2004?
  • Do you send written Initial Notifications of COBRA rights to all of your employees and their covered dependents, to their home address, when they first become covered under your plan? If so, can you prove it?
  • Have you trained specific individuals to answer COBRA questions? If so, have all of these conversations been documented?
  • Have you ever refused a late COBRA payment? If so, could you prove that it was late? Could you prove that you had not accepted untimely elections or payments in the past?

If you answered “no” to any of these questions, you could have a problem.

In today’s ever-changing regulatory environment, updates to employee benefit laws occur every day, and COBRA is no exception. Most employers simply cannot keep up with changes to State or Federal laws. Others are not even aware that COBRA rules and regulations apply to them. The IRS estimates that 90% of all employers that are subject to COBRA are not in compliance.

COBRA laws are constantly changing and the language is difficult to read and harder to interpret. Plus, unnecessary COBRA claims are costly and often the responsibility of the employer rather than the insurance carrier. With the IRS the burden of proof is up to you. The consequences of non-compliance could be employer fines of up to $500,000 or 10% of group health plan costs.

If you are an employer with 20 or more full or part-time employees on at least 50% of your typical business day, more than likely, you are required by federal law to comply with COBRA.


Retirement Plans

This benefit has been created in many forms with numerous regulations and the products generated come in many generic names; yet with very different internal structures! Ah…the 401-k retirement plan can appear as a simple straightforward profit sharing plan with multiple investment options built on what engine? You don’t have to be a securities expert to realize the profit for the vendor is in the assets! Yet the administrative fees seem to get much of the press.

Let me use my resources to dissect what you have or what you are looking and then we can see where it fits or does not fit. Slick talking salesmen can scare a business owner to death………..but do realize that there are reasons for those salesmen. On occasion you find one that is actually experienced, knowledgeable and doing well enough that your sale is secondary to your best interests!

Because I will have no vested interest in a particular plan, no incentives or commissions……..I can use my resources, give you advice and in most cases give you the best plan with the lowest internal and administrative fees. The financial strength of the plan you choose will be evaluated along with expenses, but you will make the decision with all of the facts!

Retirement Plans are so very important with the strong possibility that social security will not be around nor should it be the basis for your retirement planning. This is definitely one benefit where understanding how the game is played and the players involved can save you thousands upon thousands of dollars!