Choosing the right company as your Flexible Spending Account Administration partner is important. There are many companies bidding for your business, but not every company offers all of the benefits your employees deserve and your company needs. To learn more visit: http://www.fbmc.com/Benefits-Administration/Flexible-Spending-Accounts.aspx
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Do Not Short Change Your Employees with Sub-standard Flexible Spending Account AdministrationChoosing the right company as your Flexible Spending Account Administration partner is important. There are many companies bidding for your business, but not every company offers all of the benefits your employees deserve and your company needs. Here are a few of the important features and benefits you must consider when choosing your FSA Administration partner.The Employee Benefits Offered By Top FSA Administration PackagesFollowing is a short list of features you should require from any company seeking to be your Flexible Spending Account Administration choice.Automatic Claim SubmissionVisa or MasterCard Debit Card AvailabilityDirect DepositWeb Access to Account Balances and StatementsAbility to File Claims OnlineSuperior Customer ServiceMany companies offer several of these items, but only the top FSA providers offer all of them. You can increase employee satisfaction and adoption of Flexible Spending Accounts by making sure to partner with a company who provides all of these services.A few of the features, specifically the web access and online services, may not be of interest to some of your employees. Those same features will be the deciding factor for others. The 3 most critical aspects may be Direct Deposit, Debit Cards, and Superior Customer Service. Flexible methods of fast payment are critical, as is the best possible customer service. When employees cannot receive fast accurate answers to their questions they will be asking you.While evaluating FSA offers do not under estimate the power of fast payments with multiple methods to receive money. Employees are very intolerant of waiting weeks to receive a check in the mail for reimbursement on their claims. Fast direct deposits or debit cards give your employees what they really want, speed.
The Employer Benefits of Selecting the Proper Flexible Spending Administration CompanyThe right choice of FSA provider will lead to higher enrollment in the FSA plan. This increases your companies FICA tax savings, reduces in-house labor to track deductions, and removes the burden of answering hundreds of questions.When you choose a high quality FSA partner they will do the presentations, answer questions, and follow-up with your employees to ensure the highest enrollment possible. They consult with your employees to help them maximize their savings. Employees who start seeing savings on the bottom line of their paycheck by choosing to enroll in your Flexible Spending Account package may even feel like they received a raise or bonus. Saving money on health care, their insurance deductibles, insurance premiums, co-payments, dental care, eye care and even their glasses or contact lenses will have them believing this is one of the best benefits your company has ever offered.The Wrong Flexible Spending Account Administration Selection Can Be DisastrousWhen you choose the wrong company to partner with your life will be filled with headaches. Employees will be grumbling. You will be inundated with questions you do not have time to answer. Your savings will fly out the window. Take time to carefully research your partner for Flexible Spending Account Administration and listen to the praise of your staff, not the complaints.