Commuter Choice accounts help reduce the strain on the paychecks of your employees’ work-related transportation expenses. Section 132 of the Internal Revenue Service (IRS) code allows them to use “pre-tax” dollars, up to a monthly maximum, for eligible mass transit and parking expenses.
Benefit Strategies makes it easy to take advantage of this pre-tax benefit and start saving money! There are two types of Commuter Choice accounts; employees can enroll in one or both.
A Parking Account allows employees to use pre-tax dollars to pay for work related parking expenses. A Transit Account allows employees to use pre-tax dollars to pay for expenses incurred traveling to and from work. A transit pass is any pass, token, fare card, voucher or similar item entitling a person to mass transit transportation.
To enroll, employees simply decide how much money they need for work related mass transit and/or parking expenses each month. The amount within the monthly pre-tax maximum will be deducted from their paycheck each pay period, prior to Federal, State and FICA taxes being calculated. Employees pay less in taxes so they save money! The monthly election amount will continue throughout the plan year unless they decide to reduce, increase or stop their election.
In today’s increasingly complex benefit world, you need an integrated solution to your company’s benefit administration requirements. Benefit Strategies’ complete product package includes Direct Billing administration (LOA) when employees temporarily leave your employment for medical or other approved reasons.
When an employee goes on a leave of absence, Benefit Strategies will take over the ongoing administration and maintenance of that employee’s benefit programs, dealing directly with the appropriate carriers so you won’t have to. We will bill employees directly, providing them with a coupon billing letter and payment coupons through the end of the leave period. We will also handle the collection of premiums from the individuals. Direct Billing administration – like our other health and welfare administration services – is fully supported by our knowledgeable, responsive customer service team who will answer any questions your employees may have regarding their LOA eligibility or resolve any issues in a timely fashion.
Please note that Benefit Strategies, LLC does not determine LOA eligibility or length of leave.
Nearly 90% of today’s retiree benefit plans call for the retired employee to pay all or a significant portion of their premium. Benefit Strategies will help you manage benefits administration for your retired employees.
From premium billing to setting up customized payment schedules, Benefit Strategies will handle the entire process from the initial election of coverage to monthly premium collection.
We can manage your retiree open enrollment process from start to finish, providing retirees with complete benefit packages, including:
Retirees also have the advantage of paying premiums through a direct debit from their savings or checking accounts, this makes it so they never have to write a check or forget to make a payment!
Once the enrollment process is completed, Benefit Strategies will notify insurance carriers of any changes, and coordinate any pension-based premium deductions of the retiree.
Benefit Strategies provides full service Tuition Reimbursement services through the use of software which automates interactive approvals between employees, their managers and Human Resources. Benefit Strategies will base the setup components of our system to be completely tailored to your company’s Tuition Reimbursement Policy.
Enables employee self-service by allowing access to their account any time. Employees can submit applications, track status and enter grades without the traditional paper forms and time consuming phone calls, allowing more timely approvals.
Benefit Strategies offers customized reports so Managers can actively administer ongoing liability in their Tuition Programs.
Employees currently paying a portion of their employer-sponsored medical, dental, or vision insurance plans on an after-tax basis through payroll reductions can elect to convert these contributions to a pre-tax basis, thus saving the Federal, FICA, and State (where applicable) taxes. In addition, the employer realizes tax savings as their employees’ gross earnings are decreased accordingly.
Benefit Strategies performs annual Non-Discrimination testing upon request. Current Benefit Strategies clients with FSA, HRA or POP plan(s) can find the testing fee in their Service Agreement and should request testing through their account manager or by indicating they want testing done on their implementation or renewal paperwork. All other clients and non-clients wishing to have testing done on FSA, HRA or POP plan(s) should contact our Sales department for a proposal at email@example.com or 888-401-3539.
Brokers and Clients using the Employee Navigator benefit administration software can choose Benefit Strategies as their Marketplace Partner to receive the following files:
To get started, follow along with our Employee Navigator Guide when you login to your Employee Navigator portal. Once selected, we will receive notification from Employee Navigator and we’ll reach out to your indicated contact to ensure everything is put in place.
Interested in learning about Employee Navigator? Visit www.employeenavigator.com