Flexible Benefit Service LLC

Maximize tax savings for healthcare and dependent care expenses through FSAs.

Save tax-free for qualified healthcare expenses with flexible HSA options.

Flexible HRAs help employers control healthcare costs while providing tax-free reimbursements for eligible medical expenses.

Offering tax-free reimbursements for individual health insurance, ICHRAs provide employers flexibility and control over healthcare benefits.

Tax-free commuter accounts simplify travel expenses for employees, ensuring significant savings.

Streamlined COBRA administration for compliance with federal requirements.

Enable tax-free employee contributions to health insurance through Premium Only Plans.

Ensure compliance with ERISA requirements for health benefits through simplified documentation.

Ensure Compliance With Required Annual Testing for Employee Benefit Plans.

Ensure Compliance With Healthcare Regulations Efficiently.

Administration and payroll-integrated management of HSAs, HRAs, and FSAs enabling pre-tax contributions, employee-owned accounts, automated enrollment, card-first access, simplified administration, and compliance controls.

Products: Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs)

Administration of employer-funded arrangements that reimburse employees for individual health insurance premiums and eligible medical expenses.

Products: Individual Coverage Health Reimbursement Arrangements (ICHRAs)

Programs that manage employer-funded commuter pre-tax benefits with card-based payments, payroll integration for automatic enrollment, configurable qualifying categories (transit, parking, micromobility), and enterprise-grade security.

Products: Commuter Accounts

Management of employer COBRA obligations, including beneficiary notices, records, and documentation.

Products: COBRA Administration

Support for employer health and welfare plan compliance, including ERISA documents, nondiscrimination testing, healthcare regulatory resources, and Section 125 premium-only plans.

Products: Compliancedashboard, ERISA Wrap Document Services, Non-Discrimination Testing (NDT), Premium Only Plans (POPs)

Flexible Spending Accounts (FSAs)

Flex administers flexible spending accounts that let employees set aside tax-free dollars for eligible healthcare and dependent care expenses.

• Tax-Free Savings
  Allows employees to set aside pre-tax dollars for out-of-pocket healthcare and dependent care costs, maximizing their savings.
• Streamlines Claims Processing
  Reduces the burden on employees by simplifying the claims process through seamless integration with carriers.
• Enhances Accessibility
  Provides immediate access to funds for eligible expenses, making the process convenient for users.
• Convenient Account Management
  Enables users to easily track their spending and account balance from anywhere.
• Seamless Integration
  Ensures smooth management of benefits by linking with existing health plans.
• Preserves Employee Savings
  Reduces the risk of losing unused pre-tax dollars at the year's end, thus encouraging utilization.

Health Savings Accounts (HSAs)

Flex administers health savings accounts that allow tax-free savings for qualified healthcare expenses. HSAs provide users the flexibility to save for current and future medical costs while taking advantage of tax benefits.

• Maximize Tax Benefits
  Contributions to HSAs are tax-deductible, and earnings grow tax-free. Withdrawals for qualified medical expenses are also tax-free, providing a significant tax advantage.
• Grow Your Savings
  Participants can invest HSA funds in various mutual funds, which helps grow their savings over time while retaining the tax advantages.
• Manage Accounts Easily
  Users can track their contributions and expenses through a secure online portal, making it simple to manage health savings.
• Access Funds Instantly
  The debit card simplifies transactions by allowing users to pay for eligible expenses directly from their HSA account.
• Get Personalized Guidance
  Access to knowledgeable representatives ensures that users receive assistance tailored to their healthcare savings questions.

Health Reimbursement Arrangements (HRAs)

Flex administers employer-funded health reimbursement arrangements that reimburse employees for substantiated eligible medical expenses on a tax-free basis. Employers can choose from different plan designs, including integrated, retiree, qualified small employer, and dental and vision HRAs.

• Receive Tax-Free Reimbursements
  Employees receive tax-free reimbursements for eligible medical expenses, reducing their financial burden.
• Customize Your Plan Design
  Employers can select from various plan designs to best meet their business needs and employee preferences.
• Choose Your Reimbursement Method
  Employees can access their benefits through various convenient reimbursement methods, enhancing user satisfaction.
• Manage Accounts Online Easily
  A user-friendly online portal empowers employees to manage their accounts effortlessly, providing transparency and control.
• Submit Claims Seamlessly
  Employees can file claims easily, ensuring a smooth reimbursement process with minimal hassle.

Individual Coverage Health Reimbursement Arrangements (ICHRAs)

ICHRA allows employers to reimburse employees tax-free for health plan premiums and qualified out-of-pocket expenses. Employees must have individual health insurance or Medicare to participate. With Flex, employers can customize eligible employee classes, reimbursement amounts, and effective dates.

• Offers Tax-Free Benefits
  ICHRAs enable employers to provide reimbursements that do not count as taxable income for employees, maximizing their purchasing power.
• Customize Employee Plans
  Employers can design ICHRAs around specific employee classifications, making it easier to adapt to different workforce dynamics and needs.
• Supports Employee Choice
  Employees can select their individual health plans from various options, ensuring they have coverage tailored to their preferences and circumstances.
• Meets ACA Requirements
  By offering ICHRAs, employers can fulfill the health coverage requirement outlined in the ACA, avoiding potential penalties.
• Cost-Effective Management
  Employers benefit from reduced costs associated with managing ICHRAs compared to traditional group plans, allowing for reallocation of resources.

Commuter Accounts

Flex administers commuter accounts that let employees use tax-free funds for eligible mass transit and parking expenses. Flex manages implementation, employee education, and ongoing plan administration.

• Save On Commuting Costs
  Utilizing tax-free contributions offers significant savings on regular commuting expenses.
• Pay Directly With The Flex Card
  Employees can conveniently pay for transit and parking using a single smart card loaded with their contributions.
• Access Real-Time Analytics
  Employers can efficiently manage their plans with comprehensive online reporting and analytics.
• Manage Accounts On-The-Go
  The mobile app allows participants to track expenses, view account balances, and manage deposits anytime and anywhere.
• Support Throughout The Process
  Flex ensures a smooth implementation with tailored educational resources for employees.
• Flexible Reimbursement Methods
  Participants can choose their preferred method for receiving reimbursements, enhancing convenience.

COBRA Administration

Flex provides COBRA administration to help employers satisfy federal COBRA requirements.

• Ensure Compliance With Federal Regulations
  Flex's COBRA administration ensures that employers adhere to the strict compliance requirements established by federal regulations, minimizing risks associated with potential penalties.
• Send Timely Notices
  Flex manages the critical timeline by sending necessary notices to eligible participants immediately after a qualifying event.
• Maintain Accurate Records
  Flex ensures that all necessary documentation is retained for compliance, helping employers establish a strong defense against potential disputes.
• Get Expert Assistance
  With dedicated support, employers can access experienced professionals ready to assist with COBRA-related inquiries, ensuring smooth administration.

Premium Only Plans (POPs)

Flex provides Premium Only Plans that enable pre-tax payroll deductions for employer-sponsored benefits, allowing employees to save on taxes while paying for health insurance premiums.

• Save Money On Taxes
  Employees can save up to 30% on their health insurance premiums by using pre-tax deductions, minimizing their taxable income.
• Lower Payroll Costs
  By enabling employees to use pre-tax deductions, employers can reduce their overall payroll tax expenses.
• Ensure Compliance
  Flex helps employers create a compliant Cafeteria Plan that provides necessary documentation to maintain tax-favored status.
• Accessibility For Employers
  Businesses of all types, including nonprofits and partnerships, can establish a POP, making it accessible for a wide array of employers.

ERISA Wrap Document Services

Flex prepares ERISA wrap documents that combine health and welfare benefits into one plan document and provide required disclosures to participants.

• Streamlines Documentation Process
  By consolidating multiple benefits into one document, employers reduce administrative burdens and enhance clarity for plan participants.
• Ensures Legal Compliance
  Protects employers from legal risks by ensuring all necessary disclosures are made to participants, as mandated by ERISA.
• Reduces Compliance Work
  Employers save time and resources by only needing to file one Form 5500 for all applicable plans.
• Avoids Financial Penalties
  Employers mitigate the risk of penalties and lawsuits by maintaining compliant documentation.

Non-Discrimination Testing (NDT)

Flex provides non-discrimination testing to help employers keep benefit plans compliant with required annual testing. This service ensures that plans do not favor highly compensated or key employees, maintaining compliance with IRS regulations.

• Maintain Compliance Easily
  Flex's NDT service streamlines compliance, ensuring employers fulfill IRS requirements and avoid potential penalties through thorough annual testing.
• Validate Employee Participation
  This feature checks that a fair distribution of benefits is available to all employees, aligning with IRS standards for plan eligibility.
• Equitable Contributions Assurance
  This service ensures that contributions made by employers do not favor highly compensated employees over others, fulfilling regulatory requirements.
• Monitor Benefit Elections
  This feature ensures that election rates do not disproportionately favor top compensation earners, promoting fairness in benefit selection.

Compliancedashboard

Compliancedashboard offers employers a resource for compliance with various healthcare regulations, helping ensure they meet necessary legal obligations effectively.

• Assists Employers In Compliance
  Essential for managing and meeting compliance requirements, reducing risks of penalties and legal issues.
• Streamlines ERISA Compliance
  Fills in disclosure gaps required by law, protecting employers from regulatory fines related to plan documentation.
• Provides Comprehensive Tools
  Equips employers with resources and tools to streamline their compliance efforts, fostering an informed and compliant workplace.
• Delivers Tailored Assistance
  Helps employers receive advice and support tailored to their specific needs in compliance management.