CPI-HR’s Health Savings Account (HSA) and Flexible Spending Account (FSA) Administration puts the power in the hands of the participant.
Flexible Spending Account (FSA) Administration
A Flexible Spending Account (FSA) is a tax-savings vehicle that allows employees to contribute pre-tax dollars from their earnings to pay for qualified expenses, such as health care expenses and dependent care. Offering a Smart FSA is a great way to attract talented people, enhance your benefits package, and increase the take-home pay of your employees. FSA Administrators at CPI-HR offer the following services:
- Reduced internal administration expenses
- Decreased employment costs as FICA tax responsibilities are reduced
- Administration performed in full compliance with all current IRS regulations and transferred liability for all services rendered
- Daily accurate, consistent and unbiased claims processing with client specific reimbursement distribution schedules
- Multiple reimbursements options (check, direct deposit, debit card) and web-based reporting available.
- Ongoing access to our expertise in plan administration with a dedicated Account Manager.
Health Savings Account (HSA) Administration
HSAs allow consumers to pay for qualified medical expenses with pre-tax dollars and save for retirement on a tax-deferred basis. An HSA is used in conjunction with a high-deductible HSA compatible health insurance plan to make health care more affordable and to save for retirement.CPI-HR’s HSA Administration service offers 24/7 web access to allow you to do the following:
- Single sign-on web based portal
- Process contributions, setup accounts, view tax forms and notifications, and certify submitted expenses
- Self-manage with abilities to submit receipts for certification, make withdrawals and contributions, enroll online, access statements, update personal and plan information, manage investments, and use the HSA calculator
- View online contributions and view account information
Both CPI-HR’s FSA and HSA services includes 24/7 online access for you and your employees as well as an Account Management team during normal business hours to manage your needs. Request an FSA Administration consultation to learn more about FSA and/or HSA Administration services.