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Third-Party Administration of HRAs

How ProBenefits Can Help You

Plan Setup and Administration:

ProBenefits handles all plan setup and administration. This is not a "document only" service as some vendors may provide, leaving all administrative responsibilities to the employer. Administration by ProBenefits includes:

  • employee group meeting by qualified presenter with full explanation of mechanics of plan;
  • data collection and verification at plan setup and renewal;
  • efficient and accurate processing of participant claims;
  • oversight and assistance with legal documents and other compliance issues, including the preparation of Form 5500s (where applicable); and
  • conducting of IRS-required discrimination testing of the plan (where applicable).

ProBenefits' services and plan responsibilities are further described in the Service Agreement, a copy of which is available upon request.

Quality, Compliant Legal Documentation For Your Plan

ProBenefits utilizes its full resources to provide current, compliant legal documentation for all plans. Legal documents distributed by ProBenefits have been drafted and approved by retained counsel and include the latest provisions stipulated by applicable law.

Plan Design Flexibility

ProBenefits recognizes that the greatest advantage of an HRA plan is allowing employers great flexibility to choose from a myriad of plan designs in order to meet specific benefit goals. ProBenefits is knowledgeable in the area of plan design, and ProBenefits allows the client to customize its plan design within the parameters of Section 105. ProBenefits has substantial expertise regarding all three section 105 plan models:

  1. Deductible Reimbursement Plans;
  2. Medical Expense Reimbursement Plans; and
  3. "full" Health Reimbursement Arrangements

Each of these models may be customized as desired by the Employer.

High Level of Customer Service

ProBenefits' valued customer service approach extends to HRA plans. A ProBenefits administrator is assigned to each plan and handles all aspects of plan administration for the plan - a "single point of contact" for your company. The ProBenefits staff is also available to assist with questions and inquiries from individual participants. Additionally, ProBenefits offers a company website that is an excellent resource to help administrators and participants understand and access the plan at all times.

Proactive Monitoring, Compliance, and Technical Support

Plans administered by ProBenefits are compliance-ready and receive proactive monitoring and technical support. In addition to plan administrators with substantial expertise, ProBenefits has an in-house attorney who assists with compliance issues for all plans. ProBenefits works diligently to assist clients with compliance needs. As an example, ProBenefits will assist all plans that are required to file Form 5500s or Summary Annual Reports with the IRS with the preparation and filing of those forms.

Low Cost

Fees for ProBenefits HRA administration are low. And not only does a company gain all of the benefits of proactive HRA administration for low fees, but the premium savings of the employer generated by the plan basically ensures that the plan more than pays for itself. The plan typically results in substantial tax savings for your company - with no downside! [For more information on potential tax savings, contact us for an example].

If you have any questions about HRA plans or wish to have a plan administered by ProBenefits, please contact one of our Benefits Consultants.