COBRAsource Focuses on Managing Flexible Benefit Plans So Your Employees and Your Company Get the Benefits Without the Hassle.
COBRASOURCE is an innovative company dedicated to providing clients with comprehensive management services for Flexible Benefit Plans.
COBRASOURCE brings you a team with years of experience in the benefits administration field, as well as state-of-the-art software solutions and a hands-on support staff.
You can count on COBRASOURCE to set up and mange your Flexible Benefits Plan seamlessly.
COBRASOURCE Services Include:
1.
Preparation of plan documents and summary plan descriptions.
2.
Communication to employees that will include a detailed list of qualifying expenses and FSA worksheets to help them calculate realistic but conservative estimates of expected medical, dependent care and transportation expenses
3.
Preparation of confirmation statements.
4.
Processing and updating employee information in respect to additions, termination and changes in election amounts.
5.
Confirmation of employee reductions to fund reimbursement accounts (per payroll period).
6.
Expedient handling of all requests for reimbursement. Claims will be processed on a proof-of-expense basis.
7.
Production and distribution of quarterly reminder notices advising participants of unused account balances.
9.
Following the end of the plan year, COBRASOURCE will send out forfeiture reports of unused employee balances.
9.
Any required discrimination testing on an annual basis or upon changes in participation levels.
10.
Providing a signature-ready IRS Form 5500 (if necessary).
11.
Record retention for claim documentation for the plan year.
COBRASOURCE is your choice for COBRA and FSA administration. Please contact COBRASOURCE, at (888) 966-6366.
We look forward to a compliant relationship.
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