Flexible Spending Account (FSA) Aministration Solutions

Fexible Spending Account Administration

Your workforce is your company’s most valuable asset. Regardless of the size of your organization, administering employee benefits to meet your employee’s medical and dependent-care expenses should be a top priority.

For this reason, Proview Global provides FSA administration services to take care of employee benefits administration for you.

What is a Flexible Spending Account?

A Flexible Spending Account (FSA) is a tax-advantaged and flexible financial account that allows employees to set aside money to cover medical expenses that are not covered by their regular insurance plans. As the name suggests, an FSA permits employees to formulate their own plan based on their needs. An FSA can yield higher tax savings for both employers and employees, which is why many opt for it. However, while FSAs are the most cost-effective benefits employers can provide, they are among the most difficult to manage.

Our Flexible Spending Account administrators will manage your company’s employee benefits. This way, you can focus on the business processes that matter most for the company’s health.

The Benefits of Outsourcing FSA Administration

In the U.S. healthcare system, administrative costs account for over 25% of the country’s overall hospital spending. One of the main drivers of this expenditure is waste and inefficiency, particularly in insurance claims processing and reimbursement.

Without the required infrastructure, knowledge, and skilled resources, processing Flexible Spending Account (FSA) claims can be a long and complicated process. Errors in any FSA administration function can result in year-end wasted allocations and in employee dissatisfaction.

Proview Global offers administrative solutions to companies to ensure efficient FSA administration functions and timely disbursal of claims, so that employees can meet their medical and dependent-care expenses.

Our dedicated Cafeteria Plan experts will manage all aspects of your FSA administration, including enrolment, claims processing, claims, reimbursement, and IRS compliance on your behalf. In addition to these services, our FSA benefit administrators at Proview Global are committed to offer support in addressing key FSA administrations and adjudication issues, including the following:

  • FSA Administration Inefficiencies – our experts are equipped with the knowledge, skill, and resources to streamline and coordinate all FSA settlements, making sure that the benefits are delivered to the participant. We communicate directly with participants on a regular basis through email alerts, website connectivity for participants and employers, and more.
  • Compliance Issues – run by a team of trained FSA administrators, we guarantee long-term stability and reliability by ensuring compliance with IRS regulations and providing timely updates regarding regulatory and legislative changes.
  • Reporting and Auditing Errors – outsourcing with us gives you access to proven technology for tracking data relevant to the actions of your account and participants, detailed quarterly statements, and so on.

In addition to our commitment to customer support, Proview Global aims to take the burden of processing benefit plans off your shoulders so you may focus on achieving your core business objectives.

Our FSA Claims Adjudication and Administration solutions include:

  • Electronic enrollment processing
  • Claims reimbursement processing
  • Production of quarterly statements for both employers and participants
  • Claims audit to ensure compliance with IRS regulations and substantiation requirements
  • Substantiation processing
  • Participant communication production and fulfillment

FSA Administration Services from a Team of Professionals

Handled by a team of Cafeteria Plan certified specialists, our FSA administration and support services will help you lower your operating costs.

If you have inquiries about our FSA claims administration solutions, don’t hesitate to contact us and take advantage of our free consultation. We can also arrange a free pilot program so that you know what to expect from our Flexible Spending Account administrators.