Flexible Spending Accounts are tax-advantaged accounts for medical and dependent care expenses.
Tri-Star offers administration of these Internal Revenue Code Section 125 authorized plans. Accounts are maintained for employee-contributed or optional employer-contributed funds. Payments to participants are streamlined through direct deposit, and/or use of the FSA debit card, or optionally by check. Tri-Star can accept data file feeds from your insurance carrier to auto-adjudicate claims for participants, therefore, eliminating paperwork filing by participants.
Limited-Scope FSAs are available for employers with High-Deductible Health Plans (HDHP) to offer tax advantages for qualifying dental and vision expenses. Tri-Star will work with you to design the plan or combination of plans to best serve your needs.
Plan Design
- Consultation on plan design
- Preparation of Plan Document & Summary Plan Description
Enrollment Communication
- Enrollment fliers for open enrollment and new hires with links to tax-savings calculators, qualifying expense listings, IRS Publications, etc.
Enrollment/Account Maintenance
- Planning worksheets and tax-savings calculator via the web-site
- On-Line annual enrollment through a secure web-site
- Customized paper enrollment available
- New hires, changes in status, terminations, etc. maintained via electronic feeds from employers
Claims Reimbursement
- Auto adjudication and payment of claims processed through a data file feed from your insurance carrier
- Debit Cards, optional, eliminate paper filing for qualified, electronically-supported expenses
- Next day processing of on-line claims filing with follow up faxed supporting documentation
- Optional fax or mailing of paper claims
Ongoing Participant Communication
- Welcome letter via email
- Account status with each reimbursement
- Periodic account reminders
- On-line, real-time, 24/7 account detail and summary
- Blog for current topic updates
- Live chat for customer inquiries
Employer Reporting
- Weekly reimbursement registers
- Monthly status reports via secure email
- Customized reporting on request, available from in-house software
Customer Service
- Toll-free, live, customer service representative available for participant and employer support
- On-line account access 24/7
- On-line forms and links to Internal Revenue Service topics
Plan Compliance
- Qualifying expense review
- Discrimination testing services
- Plan document compliance