| • Cafeteria Plans: pre-tax Premium Only Plans (POPs), Flexible Spending Accounts (FSAs), and Benefit Menus. These plans were the first of the new breed of employee benefits commonly referred to as “consumer directed” or “consumer driven” health plans in January 1978.
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• COBRA: notifying employees of their right to continue benefits, tracking their elections, collecting premiums and forwarding payments to insurance carriers. |
• Commuter Benefits: pre-tax transportation and parking benefits using cash reimbursement and debit cards. |
• Consolidated Billing: integration of carrier bills and employee eligibility for employers and associations. This program also works for retiree billing and voluntary benefits. |
• Direct Dental and Vision Reimbursement Plans: employers and associations can custom design these benefits at 50% less cost than current plans and without insurance carrier restrictions (networks, industry, waiting periods and employee classes). |
• Health Reimbursement Arrangements (HRAs): these plans are an outgrowth of self-funding under Internal Revenue Code section 105 and part of the consumer directed health care movement. HRAs work with insured plans (e.g. PPOs and HMOs) and the new Health Savings Accounts (see below). |
• Health Savings Accounts (HSAs): these plans were first introduced in January 2004 (Code section 223) and are at the forefront of the consumer driven health care movement. HSAs work like medical IRAs allowing contributions from individuals (and employers) to grow tax deferred and used tax free for medical care. |
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Feel free to contact us. |
