(FLEXIBLE SPENDING PLAN)
FlexSystem is an IRS Code Section 125 Cafeteria Plan that enables employees to pay for eligible expenses on a pre-tax basis – an instant savings of nearly 30% for the employee! For you? Benefits costs are controlled without restricting choices, and you pay less in Social Security tax for every dollar of employee participation.
After a paperless on-line set up, employees place funds in predetermined benefit accounts through salary reduction. When a qualified expense is incurred, the employee submits a request and receives prompt reimbursement. With on-line administration and submission of Requests for Reimbursement, daily check processing, and direct deposit, FlexSystem provides the industry’s fastest turnaround of requests!
FlexSystem offers employers:
- All-inclusive fees – no additional charges or hidden fees.
- A funding arrangement unique in the industry.
- Exclusive VeriFlex process to substantiate Requests for Reimbursement.
- Electronic transfer of Client funds to FlexSystem – no more cutting checks.
- No ties to any insurance or other employee benefit plan.
- Transportation benefit available at no additional cost.
- Mirror-imaging of payroll for fastest turnaround of reimbursements.
- 25+ years of experience.
- Audit guarantee.
FlexSystem offers employees:
- Requests for Reimbursement submissions via paper, fax, or on-line.
- 24-hour turnaround on reimbursements via Direct Deposit.
- Instant account status availability on-line or via FlexSystem’s voice response system.
- Enrollment or re-enrollment on-line from the privacy of your home.
- FlexSystem Claim Card (debit card) for seamless real-time payments.
- Toll-free customer service, including a separate line for Participants.
FlexSystem CLAIM CARD (DEBIT CARD)
FlexSystem is proud to offer a Claim Card for participating employees! Employers who elect the Claim Card see more participation and greater contributions by their employees. Employees love the convenience of instant reimbursement! It’s a win-win for all parties!
The card can be used to pay for medical expenses at clinics, optometrists, dentists, and pharmacies (including for approved over-the-counter medications!). It can also be used for daycare and transportation expenses, if applicable.
FlexSystem also offers the Dependent Claim Card! With this card a dependent of the Participant (spouse, adult child, etc.) can draw funds from the Participant’s account to pay for eligible expenses! Many Participants enjoy this added convenience, making it even easier for the family to get instant reimbursement of their FlexSystem funds at the pharmacy or physician’s office.
The added tax savings realized by increased participation and contributions makes adding the cards an obvious choice!
FlexSystem HEALTH SAVINGS ACCOUNT
There is a new way to control health care costs – a Health Savings Account (HSA). With a HSA, individual employees can reduce their health insurance costs, create tax savings, and better understand their true costs of health care.
HSAs are federally approved savings accounts offered only in conjunction with high-deductible health plans. With HSAs, employers and qualified employees may make tax-free payroll contributions to pay for certain out-of-pocket medical expenses. These funds are received tax-free by employees and the contributions are tax deductible for the employers. With the funds deposited into a selected custodial account, the employee simply requests reimbursement from said account to pay for the qualified expenses.
TASC offers multiple HSA options depending on your need. Consult with your local TASC service Provider for more information!
FlexSystem HSAs offer employers:
- Elimination of hidden fees
- Creation of tax savings
- Reduction of health insurance costs through use of high deductible plans
- The ability to provide employees with more control over their health care
- Elimination of employer risk in the reimbursement process
- An Audit Guarantee
FlexSystem HSAs offer employees:
- Increased take-home pay
- Growth of tax-deductible deposits tax-free in the HSA account
- Retention of account deposits and interest regardless of employment status
- Elimination of the need to substantiate reimbursement requests through a third party
- Increased understanding of the true cost of the health care
COBRAToday (COBRA ADMINISTRATION)
COBRA made easy – and compliant.
Staying on top of COBRA health care continuation is no easy task. Constantly changing rules and regulations only add to the challenge. And worse – since almost every aspect of COBRA is extremely time-sensitive, the consequences of dropping the ball can be dire.
COBRAToday takes the worry out of COBRA by taking on the administration, ensuring the compliance of your plan.
COBRAToday promptly takes care of the necessary communications, notices, forms and recordkeeping. It even provides for the collection of premium payments connected with COBRA. Over all, it’s what you need to remain in compliance with complex federal regulations.
In addition to easy sign-up and access to TASC experts, COBRAToday assumes liability for all required procedures and regulations and provides easy to understand account reports.
ERISAEdge (ERISA COMPLIANCE)
ERISA (Employee Retirement Income Security Act) is a federal law that regulates group sponsored benefits called “welfare benefit plans.” ERISA requires companies offering group benefit plans to provide detailed reports, provisions of specific Plan features, and funding information, in addition to imposing a strict fiduciary code of conduct on those who sponsor and administer these plans.
Are you complying with these requirements? Failure to comply with ERISA requirements can be extremely costly through government penalties or employee lawsuits. Avoid these risks with our new cutting edge service – ERISAEdge! We bring years of experience in helping employers remain fully compliant with ERISA regulations and providing defense in the case of a Department of Labor audit.
Here’s what ERISAEdge does for you:
- Maintains all required records for the mandated amount of time.
- Provides instruction on the required on-site record keeping.
- Completes all required forms accurately and timely.
- Offers the flexibility to maintain separate ERISA Plans or bundle different benefits into a single Plan.
- Prepares and designs the Plan Document and the Summary Plan Description.
- Provides guidelines for disclosure of required information to employees.
- Prepares all applicable forms and schedules.
- Assists in obtaining necessary information from insurance carriers to prepare required forms and filings.
- Prepares the Summary of Materials Modification (SMM) and Summary Annual Report (SAR) if required.
- Assist with resolution in the event that your employee benefit plans are reviewed by the Department of Labor.
- Provides access to experienced employee benefits professionals.
- Provides an Audit Guarantee, Toll-free Customer Service, and 30+ years of experience in employee benefits.
Don’t run the risk of incurring penalties or lawsuits by missing important pieces of benefit plan compliance. Get the edge! Enroll in ERISAEdge today!
FMLAMatters (FMLA ADMINISTRATION)
FMLA (The Family and Medical Leave Act) is a United States labor law that gives eligible employees of companies with more than 50 employees the right to take up to 12 weeks of unpaid leave annually because of certain family reasons, such as the birth or adoption of a child or a serious health condition for themselves or a family member.
Everyday FMLA costs employers hundreds if not thousands of dollars in increased labor costs, lost worker productivity, and continued health care benefits. Not to mention the administrative burden employers face. More and more employers are realizing the value of shifting the time consuming administrative work and the legal burden of FMLA to a third party. Shift your workload to FMLAMatters! We have a proven track record of successfully helping employers decipher the complexity of FMLA administration, limit their risk and reduce their workload.
Here’s what FMLAMatters does for you:
- Consistent administration.
- Complete compliance with FMLA state and federal regulations, reducing legal exposure and cost.
- Complete tracking of employee leave, reducing money spent on employee benefits.
- Impartial and fair treatment of FMLA provisions.
- All-inclusive fees – no additional charges or hidden fees.
- Hold-harmless guarantee.
- Complete and centralized record-keeping.
- Access to experienced employee benefit professionals.
- Train supervisors and managers on company procedures and FMLA state and federal regulations.
- Full review of employment policies.
- Toll-free customer service.
- 24/7 online access to FMLA activity reports.
All the intricate elements of FMLA administration really matter, so enroll in FMLAMatters today!
DirectPay (HRA PLANS)
Did you know that you can gain control over health care costs by giving employees more choices?!
With DirectPay employers can implement a Health Reimbursement Arrangement (HRA) in which they set aside a specific amount annually from which employees pay for health care expenses. The benefit? All employer contributions to the Plan are tax-deductible to the employer and tax-free to the employee.
The DirectPay Funding Arrangement is unique in the industry and available only to clients served by TASC. Employers are allowed to advance claim payments to employees before the full reimbursement amount is present in their account. No need to worry about having funds available to deal with occasional spikes in employee claims. DirectPay makes sure account ups and downs do not get in the way of reimbursements.
For employers, DirectPay can generate substantial savings in overall health benefit costs and improve employee morale.
For employees, DirectPay means real savings, more control, more flexibility, and better service.
TASC offers three types of DirectPay HRA Plans, each developed to fit your specific needs.
Click on the button below to open a contact form to get full details from a TASC representative. No obligation.
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