Flexible Spending Account (FSA) Administration
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 Receive A FSA Administration Solution Proposal
If you would like us to create a no-obligation solution proposal based on your company’s unique challenges, simply complete the form below. We will be in touch shortly.
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State and Federal laws and regulations change nearly every month, making it a daunting task to stay up-to-date with the new requirements.
Many of our clients have turned to us to help them avoid costly fines and time consuming paperwork. Our HR professionals are experts on the laws and regulations in all 50 states and stay up-to-date on all changes.
FSA Administration Services:
- Implementation and Plan Design
We create Internal Revenue and Department of Labor compliant legal documents tailored to the plan specifications.
- Communication
We provide a comprehensive communication program offering a variety of tools designed to educate employees, generate employee interest in the plan and create positive atmosphere for the enrollment process.
- Administration
Employees currently have two claims submission options – fax or mail. Reimbursements are sent directly to employees’ homes or by direct deposit.
- Funding
Reimbursements are directly drawn off of the employer held account requiring no transfer funds. This approach reduces your in-house plan administration responsibilities. Check registers can be e-mailed on a weekly basis showing all reimbursement activity.
- Compliance and Administration
Nondiscrimination Testing - To ensure the plan benefits all employees in a nondiscrimination manner, the IRS requires certain nondiscrimination tests to be performed on an annual basis. HR XCEL coordinates these tests on your behalf based on information provided by you and current employee elections.
Form 5500 and Summary Annual Report- If required, we will coordinate a signature-ready Form 5500 at the end of each plan year. After your completion and return of a short questionnaire, we will provide a signature-ready form 5500 for you to file with the government.
Plan Document Maintenance- Your Plan Document and Summary Plan Description will always be in compliance when you HR XCEL. We’ll prepare original or restated documents providing automatic updates to reflect IRS and DOL require changes.
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