One thing most benefit brokers can agree on: our industry gets more complicated every year. As your clients seek to lower costs but still attract talented employees, they are adding a host of benefit options…with varying rules and compliance requirements. Coordination of these programs becomes key.
5 reasons why life is easier with SBA as your one-stop alphabet-soup shop.
- FSAs: The Health FSA is a COBRA eligible benefit.
- SBA does not need to contact another TPA to find out Health FSA details in order to calculate the Health FSA COBRA premium.
- HRAs: The HRA is a COBRA eligible benefit.
- SBA calculates the HRA COBRA premium.
- SBA does not need to contact another TPA to request the HRA COBRA premium or find out how much of the HRA benefit has been used in order to complete the COBRA notice.
- HSAs: An employee terminates with an HSA bank account,
- SBA mails the COBRA notice with the HSA medical plan included and reaches out to the ex-employee to move their account to an individual status.
- The ex-employee continues to receive excellent customer service from SBA and can call anytime to ask about COBRA or the HSA bank account.
- POPs: All of our Premium Only Plan’s include HSA pre-taxing.
- No need to update the existing POP with this if adding a Health Savings Account.
- All plans: SBA will provide macro and micro oversight for all alphabet soup programs.
- These programs impact and intersect in a variety of ways. With SBA administering all programs, we have your client covered!
Ready to uncomplicate your life? Contact SBA for a quote on all your alphabet-soup programs today!