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A section 125 plan, also known as Flexible Spending Accounts or Cafeteria Plan, can be a valuable tool for employers and employees who want to make every benefit dollar count. Managing these complex plans however requires a solid foundation of experience, a wide range of expertise and dedicated technological resources. That's why more and more companies are turning to Leggette Actuaries, Inc.
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Through our Flexible Benefit Plan Package, Leggette Actuaries provides consulting and administrative services you and your employees can rely on for smooth, efficient operation. Leggette provides a full spectrum of services including plan design, administration, and employee communications. Modern Flex plans often offer a broad range of options while taking your company's current reimbursement scheme into consideration.
Your Team
With the establishment of your Flexible Benefits Plan, a team of specialists takes responsibility for the services to manage your plan long-term. You will be assigned an Account Manager to manage your plan, who will be knowledgeable about your plan and is educated on the current rules of Section 125 plans. This member of your team will provide reporting and timely information.
Account Management
- Daily reconciliation and claims processing
- Direct Deposit
- Flex Benefits Card
Administration
- Administrative Handbook and company specific CD-Rom with forms and procedures
- Monthly year to date reports
- Online reporting
- Payroll processing within 24 hours
- Toll free number
- Dedicated account manager
Compliance
- Prepare a "signature ready" annual IRS 5500 and other related schedules
- Perform annual discrimination compliance testing
- Provide Plan Document and Summary Plan Description for Medical Reimbursement, Dependent Care, Transportation, HRA/ 105 Plans, Adoption Assistance and Tuition Reimbursement
- Maintain and provide reporting on all accounts
- W-2 wage information reports for Dependent Care Accounts
Employee Assistance
- 24-hour access to accounts via a secure internet website
- Toll-free Interactive Voice Response System
- Daytime access to toll-free live operator call center (7 am to 7 pm CST)
- Employee Statement on reimbursements
- Customized 60 day notice letters
- Dedicated fax
Enrollment
Leggette's top priority is proper communication to employees. We want to promote understanding and awareness of your employees company benefits. Enrollments can be handled in several ways:
- Electronically - Electronic enrollment kits may be provided. Kits include elections forms and employee brochures that can be e-mailed to employees.
- Webcasted - Webcasted enrollments allow you to provide the same information to all employees. Companies with several locations and multiple locations find it hard to communicate vital benefit changes, updates and plan education. Custom Webcast enrollments provide multiple links for enrolling after the presentation, finding more information, and asking questions. Live web casts will be recorded for future use with new enrollees. The web cast can be used to communicate and educate employees on your flexible benefits plan as well as other benefits.
- Traditional - Custom election forms can be generated for a smooth enrollment. Employees will receive an educational brochure explaining the details of your plan. Brochures claim forms and employee handbooks can also be provided in Spanish.
- Online enrollments - Employees can log on to www.Leggette.com or to your website to enroll for benefits online. An employee confirmation is generated for employee to save. All data collected will be transmitted to you.
- Group Meeting - Our group meeting option offers a Custom Enrollment. Each enrollment kit is personalized for each participant, making your enrollment as smooth as possible. Onsite educational meetings provide employees the opportunity to ask questions and to understand their employee benefit options.
- Enrollment planning materials - Payroll stuffers, Flyers
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