With the continuing rise of medical costs, employers are looking for ways to control their group health care expenses. Implementing an IRC Section 125 Flexible Spending Arrangement (FSA) Plan can provide a strategic way to control overall benefit costs, without reducing benefits. Vita has developed VitaFlex, a comprehensive Section 125 FSA administration system for medical reimbursement and dependent care reimbursement plans.
VitaFlex provides superior FSA administration for companies who wish to achieve tax savings for themselves and for their employees. VitaFlex’s high quality administrative service is embodied in the plan features we believe set us apart from other administrators:
- Plan design customization… Each employer has the option of designing a custom plan that suits their unique benefit requirements. Custom plan design options include implementation of the grace period, usage of debit cards for medical FSAs, and a variety of reimbursement methods including payroll and direct deposit.
- Signature-ready plan documentation… VitaFlex provides signature-ready plan documentation, including the Plan Document, Summary Plan Description, and Plan Amendments (if necessary).
- Discrimination Testing and IRS Form 5500 preparation… VitaFlex offers comprehensive discrimination testing at no additional charge. This includes distribution of the data input sheet, assistance to the Employer with any questions in completing the data input sheet, preparation of standardized discrimination testing reports, presentation of a corrective action plan, and testing oversight. IRS Form 5500 preparation is also provided (if necessary) at no additional cost.
- Personalized education and enrollment materials… Vita delivers high quality, effective educational and enrollment materials that clearly outline the plan requirements and IRS guidelines in an easy-to-understand format. This includes plan information sheets, election forms, welcome kits, and quarterly statements.
- Accurate claims adjudication within one business day… Each claim is adjudicated by an extensively trained claims analyst as if it were to fall under IRS audit scrutiny. Claims are processed within one business day of receipt, with an Explanation of Benefits sent directly to each participant. In addition to speedy processing, our accuracy rate per claim is 99.9%!
- Accurate and accessible reporting and record keeping… Throughout the year, participants and employers receive timely and accurate reports and communication related to the status of their Plan. Reports are also available at any time to employers by logging in to the VitaFlex Web portal.
- Vita On-site customer service… Naturally, there will be instances where VitaFlex participants need assistance with their FSA Plan. VitaFlex offers a well-trained customer service team, available by phone or e-mail to answer questions. There are no aggravating phone trees to wade through before speaking to someone – just a real, knowledgeable person on the line to provide helpful answers. And e-mails are responded to within one business day of receipt, so there is no frustration of endlessly waiting for a reply.
To request a customized VitaFlex quote, please click here