Flexible Spending Account (FSA) Administration

Flexible Spending Accounts (FSAs) are an increasingly popular way for employers to empower their employees in the health and welfare benefits arena.

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Benecept provides full-service FSA administration for Health Care and Dependent Care. We have been effectively providing these services for over a decade. Our processes are best-practice and we follow all ERISA and IRS requirements in order to keep all plans in compliance with federal regulations.

Our Customer Service Representatives provide participants with timely, knowledgeable and thorough responses. As an enhanced service for our clients, Benecept offers a Web-based self-service tool for participants. This provides 24/7 access to claims status, claim forms, frequently asked questions, etc. Combined with our weekly reimbursement standard and excellent customer service, Benecept’s FSA participants are able to utilize their benefits with the greatest of ease. Equally as important, our clients are confident that they are alleviated of the compliance and other time-consuming administrative issues related to FSA administration. Ultimately, this allows employers to focus on their core business.

Our full-service Flexible Spending Account administration makes it easy and convenient for employers to offer the following benefits:

Compliance Support

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  • Plan Documents and SPDs
  • Internal compliance audits
  • Annual non-discrimination testing
  • Filing of Schedule A, Form 5500
  • Compliance questions

Participant Support

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  • Live call center representatives
  • Toll-free line with customized greetings
  • 24/7 online account access
  • E-mail questions with next-business-day feedback

Reimbursement Processing

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  • Direct deposit (with quick online sign up)
  • Check reimbursement
  • Payroll accommodation (if necessary)
  • Quick, same-day processing for urgent or replacement reimbursements

Banking and Funding

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  • Flexible banking arrangements
  • ProView trust account (non-interest-bearing)
  • Payroll contribution deposits
  • Employer bank account with check-writing privileges

Claims Processing

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  • Fax or mail using ProView-provided forms
  • Automated online inquiry
  • Daily claim processing (versus weekly)
  • Automated payment schedules (for certain expenses)
  • No minimum claim or reimbursement amount
  • Rollover/upload of Medical or Rx EOBs
  • Automated e-mail notification of processed claim to participant

Debit Card

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  • Real-time processing
  • Enhanced relationship with Drugstore.com and USScript
  • Immediate merchant code authorization
  • Health care & dependent care reimbursement accounts
  • Ordering/account stacking feature
  • Additional cards for dependents

Payroll Contribution Reconciliation

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  • Per-participant account payroll contribution reconciliation for every pay period (versus retroactively)
  • Verify “annual” election matches contribution based on payroll schedule
  • Discrepancy resolution
  • Claims-pending protocols to mitigate risk to employer and overpayment

Reports & Statements

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  • Employer ad hoc online reports
  • Quarterly employer reports
  • Quarterly participant statements
  • Call center reports
  • End-of-plan-year report

Client Testimonials

"Benecept Consultants, Inc. specializes in the ever changing and complex environment of employee benefits of the private and public sectors. We work closely with our clients in the review, goal oriented solutions, selection, rate negotiation, procurement, oversight, ongoing service, employee education, management and renewal process."

Let's Get Started

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Contact Us Today For More Information

Benecept Consultants, Inc. want our clients benefit, not only from our leadership position and our specialized knowledge, but also from our long-standing professional relationships in the insurance industry.

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