Benefit Services
Attractive benefit packages help recruit and retain top talent for your organization. isolved Benefit Services simplifies the increasingly complex benefits management process, helping you stay competitive and in compliance with all laws and regulations. We can even help you save money in the process.
We'd like to discuss a tailored benefits solution for you and your organization. Here are a few of the most common benefit services we help our clients offer their employees.
ACA Print & File
ACA Print & File is designed to simplify the ACA reporting process for Applicable Large Employers (ALEs). The service includes creation of hard copy 1094 and 1095 forms, along with distribution and E-filing of the forms on your company’s behalf.
- Eliminate the stress of ACA reporting.
- Simply provide the information and we will create and distribute the forms.
- Make sure your organization is compliant with ACA requirements.
COBRA
COBRA is a law with a double bite: both the DOL and the IRS routinely conduct COBRA audits and issue penalties. Since 1986, when employers began COBRA compliance, we’ve never had a single client fail a Department of Labor or IRS audit and our notices and procedures have never failed in court. Not once.
- Risk Management. Our notices and procedures can help you avoid the risk of future penalties.
- On-Time Payments. Prompt management of COBRA elections and premium payments.
- Future Proof. We stay on top of legislative changes and complications to COBRA administration.
ERISA Wrap Documents
ERISA laws set minimum standards for health and pension plans, extending protections to workers and their covered beneficiaries. There are a number of compliance requirements associated with ERISA laws, and isolved Benefit Services offers wrap document services to make sure your business stays within those parameters.
- We create and distribute documents on your behalf to make sure all participants understand the plans.
- Our process ensures that you maintain compliance with ERISA laws.
- Avoid penalties and even legal issues relating to lack of ERISA-required documentation.
FSA – Flexible Spending Accounts
A Flexible Spending Account (FSA) is an employer‐sponsored benefit plan that allows employees to deduct money from their pay on a pre-tax basis. By offering Flexible Spending Accounts, the Employer saves payroll taxes and the Employee saves FICA, Federal and State taxes.
- Saves your employees money on health care and dependent care expenses.
- Reduces taxes paid on qualified expenses.
- We keep you current with changes to FSA laws to maintain compliance.
HRA – Health Reimbursement Accounts
Health Reimbursement Arrangements (HRAs) are a major part of the growing trend toward greater consumer health care responsibility. An isolved Benefit Services HRA can be used in conjunction with a high deductible health plan to curb premium costs or with a Flexible Spending Account (FSA) to help cover out-of-pocket expenses.
- Employer-funded option to benefit employees and their dependents.
- Helps improve your benefits package to attract and retain top talent.
- Simple customization options to create the plan that works for your company.
HSA – Health Savings Account
If you have high-deductible health plans, an HSA can help your employees save for the cost of deductibles or other medical expenses pre-tax. Like FSAs, the Employer saves payroll taxes and the Employee saves FICA, Federal and State taxes.
- Allows employees and dependents to pay for out-of-pocket health care costs on a pre-tax basis.
- With a high deductible health plan and an HSA, your company will save big on premiums.
- Encourages better health care decisions and increased awareness.
POP – Premium Only Plan
A Premium Only Plan is a win-win offering, saving money for your company and your workforce. You will pay less payroll taxes and by paying insurance premiums on a pre-tax basis, your employees’ taxable income is reduced and less income tax is paid. You also benefit from reduced health care costs and save on insurance premiums.
- Decrease the amount your company spends on premiums.
- Pay fewer payroll taxes while also decreasing your employees’ taxable income.
- Offer excellent benefits at a fraction of the cost of a traditional health plan.
Transit & Parking Reimbursement
isolved Benefit Services offers Transit and Parking Reimbursement Administration, an employer-sponsored benefit plan that allows employees to have money deducted from their pay on a pre-tax basis that goes to cover certain transportation costs.
- Allows employees to set aside pre-tax funds to pay for transportation expenses.
- Qualified expenses include parking, transit passes, and vanpool commuting for getting to and from work.
- Participants get a debit card they can use to pay for expenses instead of waiting for reimbursement.
Notice Mailings
Employers are required to send out numerous notices to keep their workforce informed of everyone’s rights and responsibilities. These notices include COBRA General Notice, FMLA General Notice and many more. When you eliminate these tasks from your workday, you’ll be able to concentrate on the more important things, like your business.
- Eliminate the stress of maintaining compliance with notices and mailings.
- Our mailing services are efficient, complete, and effective.
- Available notices include FMLA, COBRA, and many more.
Non-Discrimination Tests
If you have a FSA, POP, HRA, or a self-funded health plan, the IRS requires you to conduct non-discrimination testing once a year. The purpose of non-discrimination testing is to ensure that plans are non-discriminatory in eligibility and participation.
- An easy and quick way to stay in compliance.
- Get an in-depth report that even includes reduction amounts for failed tests.
- Keep your tax break on your annual employer matching FICA tax.
A Few of Our Clients
