When it comes to implementing and managing flexible compensation plans, TPA Systems Inc. offers the best possible combination of price and service:
- Low installation and set-up fees; - Low ongoing administration fees; - No charge for new employee ID or debit cards ($10 charge to replace lost debit card); - Prompt information regarding employer contributions and employee reimbursements; - Great employee claims service; - No charge for mid-calendar-year plan changes.
With TPA Systems Inc., installation and set-up of your flexible compensation plan is a snap. It includes delivery of a tailor-made plan document for your plan(s), the only desirable result when adopting a federally qualified reimbursement plan. Remember - if you have no plan document, you have no plan. The tax free status of your plan(s) is non-existent without a properly adopted plan document!
HRAs and FSAs are qualified plans under the Employee Retirement Income Security Act (ERISA), and consequently are required to be formally installed and adopted. Employers are required to provide summary plan descriptions (SPD) that describe these benefits to all employees.
Installation starts with the completion of a questionnaire that is specifically designed for your plan offering. For your convenience, we have provided a forms link, and questionnaires are available for both HRA and flex/cafeteria plans.
In addition, TPA Systems Inc. offers an extremely powerful benefit on your behalf to your employees and their dependents: with most reimbursement plans, we will advance claim dollars to covered individuals before their benefits are funded.*
* subject to timely funding of employer HRA funding contributions, receipt of properly filed claim from employee, Uniform Coverage Rules, and terms of the Administration and Trust Agreement between the employer and TPAS