Section 125 Administrative Practices
Today's record-high costs
for benefits are making Section 125 programs even more appealing
to both employers and their employees. Employers need administrators
who have the expertise, capacity, innovativeness, etc. to meet
a company's current and future needs.
Eastbridge's Section 125 Administrative Practices report examines
the current practices of leading Section 125 administrators.
Specifically, it presents answers to the following questions:
- How
do administrators handle case set up?
- Do administrators charge
a fee to set up a new group?
- What types of services are offered
to employers?
- What types of funding mechanisms are used for
medical spending accounts?
- How do quality administrators handle
the situation when aggregate claims for a plan exceed aggregate
contributions?
- What types of services are offered to employees?
- Are there
any bells and whistles being marketed?
- How prevalent are direct
deposits of claim payments to employee accounts?
- How prevalent
are debit cards that allow for immediate payment of claims?
With
this information, carriers and vendors can evaluate their own
Section 125 administrative practices and fine-tune, as needed,
to become more competitive.
Order Info: Section 125
Administrative Practices is available
for purchase for just $1,500. To purchase a copy, you can email
Eastbridge at info@eastbridge.com or
call (860) 676-9633. Published 2003.
Table
of Contents
1. Executive Summary
A. Report Objectives
B. Methodology
C. Key Findings
2. Provider Profiles
A. Brief Summary of Providers
Profiled
1. AFLAC
2. American Fidelity Life Assurance Company
3. AmeriFlex
4. Assurity Life Insurance Company
5. Ceridian
6. Fringe Benefits Management Company
7. Northern
Capital Trust
8. Select Data Services
3. Detailed Findings
A. Administrative Processes
1. New Account Set-Up
Process
2. Funding Options
3. Use of Trust Accounts
4. Handling Medical Reimbursement
Shortfalls
5. Software
B. Employee Services
1. Filing a Reimbursement Claim
2. Ways of Accessing
Account Balance Information
3. Reimbursement Methods
4. Other Employee Services
5. Debit Card
C. Employer Services
1. Services Offered
2. Reports
3. Discrimination Testing
4. 5500 Reporting
D. Fees
1. Fee Structure
2. Payment of Fee
E. Marketing
1. Competitive Advantage
2. Unique Services or Benefits
3. Key Competitors
F. Other
1. Trade Groups
2. HRAs
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