Q:Why would we offer one plan over another?
A: Factors such as the tax status of the new plans, the eligible expenses, and length of benefit may influence your decision on which plan(s) you choose. One might suit your organization better.
Q:What are some of the covered expenses under these new plans?
A: It depends on the plan offering. For most of the plans, eligible expenses are determined by the employer.
Q:Can we offer these plans along with FSA and HSA?
A: Yes, these new plans can be offered alongside your other benefits. Your employees will benefit from having one online account, one debit card, and one mobile app for all of their benefit plans we administer.
Q:How do employees receive reimbursement for these plans if there is no debit card?
A: Employees can submit for reimbursement in their online account or mobile app. Reimbursement can be issued in the form of a check or direct deposit.
Q:Is there a limit on the amount employers can fund through these new benefits?
A: As these accounts are 100% employer funded, the contribution limit is set at the employer’s discretion.
Q:Do we need to run non-discrimination testing for these new plans?
A: These plans do not require non-discrimination testing.
Q:Can we decide what expenses and how much to contribute based on employee class?
A: Yes, you can design these plans to reimburse expenses based on, for example, hours worked, location, or class of employee. Employers determine what works best for you and your employees.
Q:Is there an end date for how long the Disaster Relief Payment plan can be offered?
A: The duration of the benefit is at the employer’s discretion, but should be tied to the COVID-19 emergency.
Q:How long does it take to get these plans implemented?
A: We understand that these plans and reimbursements are needed now, and we will expedite the implementation of these benefits as quickly as possible.
Q:What are the costs for these plans?
A: Please contact your consultant, our Client Services department or submit this form to get more information on adding these benefits.