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BeniComp Advantage
Flexible Spending Accounts

 
Plan Installation

BeniComp will assist employer with recommendations as to the initial plan design. BeniComp will assist employer with plan document preparation and filing with the Department of Labor. BeniComp will provide all forms necessary for plan enrollment. BeniComp will enter all eligible plan participants and benefit design specifications into its electronic database and maintain plan participant eligibility records on-line. BeniComp will provide all eligible covered employees with plan identification cards, Rx drug cards, and Summary Plan Description booklets.

Claims Adjudication
BeniComp will process claims of eligible plan participants for medical, Rx and dental coverage. BeniComp will provide all forms necessary for submission and payment of claims.
Plan Administration
BeniComp will provide coordination with other services adopted by the employer such as Preferred Provider Organizations, Utilization Review/Large Claim Management, and Managed Prescription Drug Plans. BeniComp will provide all the other usual & customary services of a third party administrator including laser check/EOB printing, stop-loss claim filing, billing, premium remittance, claim auditing, appeals, subrogation, coordination of benefits, 5500 preparation, Section 125, COBRA and HIPAA administration according to the BeniComp Administrative Services Agreement.
Accounting
BeniComp will disburse claim payments made under the plan from the separate account established by the employer and provide reports sufficient for the proper accounting and control of funds.
Reporting
BeniComp will provide experience and utilization reports as desired from the listing of reports enclosed with this proposal.
Administration Online
BeniComp will provide on line access to employer for eligibility and claim status information.