Flexible Spending Accounts, COBRA Administration, SPDs and More
As a part of Towne Benefits, BeneFlex is an integral part of your employee benefits program. We provide integrated solutions that keep you in compliance from full COBRA administration to pre-tax plans.
Cafeteria Plans: BeneFlex provides Section 125 Flexible Benefits Administration for Flexible Spending Accounts (FSA) and Health Reimbursement Arrangement (HRA). From installation, implementation and enrollment to reimbursement and compliance services we provide superior service and support to your company.
BeneFlex also offers a secure MyFlexOnline portal that allows you to check account balances, file claims, print account statements, verify elections, manage direct deposits and review payments. You can stay in touch with text or email notifications with the MyFlex mobile app.
COBRA (20+ employees): A federal law that requires employers to comply with a complex set of regulations. COBRA services include:
- Initial Global Rights Notice
- COBRA Election Package
- Enrollment Upon Election of COBRA Continuation
- Collect/Remit COBRA Premiums
- Addressing Questions and Concerns with Participant
- Monthly Compliance Reports
- Staying Informed on All Legislative Changes
Summary Plan Documents (SPD) and Wrap Documents: Every employer is required to deliver a SPD to all participants in any company sponsored benefit plan. BeneFlex can prepare a Wrap Document which bundles all benefits and SPDs into one.
Premium Only Plans (POPs): POPs offer a way to reduce the cost of employee benefits by providing substantial tax savings to both the employee and the employer. The plan saves money by converting premiums from an after-tax expense to a pre-tax expense.