Cafeteria Plan Administration Outsourcing (FSA/HRA/HSA)
SandMartin is a pioneer in the field of Cafeteria Plan Administration outsourcing services enabling you to create a 24/7 virtual office offering Consumer Driven Healthcare (CDH) Services. We have been assisting Third Party Administrators (TPAs’) in not only processing and adjudicating claims but also other services like Enrollments, Payroll, Non Discrimination Testing, and COBRA. Cafeteria Plan Administration requires a high degree of precision and understanding of the process, to handle this we have a well-trained and experienced team in place with strong analytical skill set can work on any Cafeteria software.
Claims Processing and Adjudication
We have been handling FSA, HRA & HSA claims for large number of clients. The processing includes reimbursing out of pocket claims and adjudicating Debit Card claims .We also generates participant’s check as well as denial letters. We process healthcare, dependent care , tuition care and transport claims with minimal turnaround time.
We perform reconciliation and accounting services for participants on daily basis. We are also managing the COBRA premium payments including billings for collection of participant premiums. We enter PQB for terminated employees and prepare DOL notices in the COBRA software.
Maintaining and Reconciling Bank Accounts
We maintain the Corporate Accounts for the plans like FSA, COBRA and PBA. This includes making deposit and withdrawal entries on daily basis besides verifying that a minimum account balance is maintained in these accounts. We also handle the monthly reconciliation of the accounts.
Plan over funding or under funding is determined and balance is returned or funded to/ from the client.
Non Discrimination Testing (Sec 125 & Sec 129)
We complete the non-discrimination testing for the cafeteria plans on the basis of the census sent by the client to ensure their IRS compliance.