Beniversal FSA Plan Support
Benefit Resource will provide the following administrative support for your Beniversal Flexible Spending Account Plan.
FSA Plan Installation
Plan Design
Our plan design specialists focus on the employer's financial objectives while assuring the Plan's delivery of quality benefits to employees. A full evaluation of current and future benefit offerings is an integral part of the design process.
Plan Elements
Tax-Free Premiums (e.g. medical, dental & vision care group insurance premiums)
Medical Flexible Spending Accounts (e.g. co-insurance, uninsured medical expenses)
Dependent Care Flexible Spending Accounts (e.g. day care, nursery school and adult day care)
Legal Plan Document
The Plan Document outlines the Plan’s operation, duration and establishment. Detailed descriptions of employee and employer rights and eligibility are contained in this legal document. Included within the Plan Document is the Record of Plan Adoption.
Summary Plan Description
A Summary Plan Description is given to each eligible employee explaining the terms and operation of the Plan in easy-to-read language. Clear illustrations of "before and after” impact on taxes are included.
Customized Plan Highlights
The Plan Highlights is a one-page outline of the customized features of the Plan (e.g. Plan effective date, eligibility requirements, maximum election amounts allowed for Flexible Spending Accounts).
Initial Plan Enrollment Support
Trained representatives will conduct group and/or “one-on-one” employee meetings to coordinate and explain the Plan's implementation. Advance Plan announcement pieces, enrollment forms and an FSA enrollment presentation on CD-ROM will be provided.
Ongoing FSA Plan Support
Beniversal Card
The Beniversal MasterCard card is an easy way for particpants to access Medical FSA funds at the point of sale to pay for eligible medical expenses.
FSA Expense Reimbursement
A participant can request reimbursement for eligible Medical FSA or Dependent Care FSA expenses by completing a claim online and either uploading, faxing or mailing the claim and related receipts to Benefit Resource. Participants can opt to receive reimbursements via direct deposit or check (both are accompanied by an explanation of benefits statement). Medical FSA expenses paid for with a Beniversal card cannot be submitted for reimbursement.
Employer Benefit Accounting Report(s)
Reports will be generated monthly detailing Flexible Spending Account activity to date. Beginning balances, reimbursements, deposits and ending balances are displayed in an easy-to-read format. A disbursement register will be provided with each claims processing listing all reimbursements for that period.
FSA Statements
An electronic "reminder" statement is provided to all Plan participants approximately 6 to 8 weeks before the end of the plan year to avoid account forfeitures.
IRS Compliance Support
Document Amendment(s)
Comprehensive eligibility, concentration and contributions discrimination testing
Employer Benefit Plan Reference Guide
Internet Website Support
The secured internet website of Benefit Resource is accessible 24 hours, 365 days a year for employers and Plan participants. Plan documentation, forms, reimbursement account information and much more are available online.
Optional FSA Plan Support
Annual IRS Form 5500 Welfare Benefit Filing
Printed enrollment materials (FSA worksheet, Summary Plan Description, enrollment forms)
On-site information enrollment sessions
FSA Participant Presentation CD-ROM(s).