Future Clients

Key points:

FSA’s provide for a significant employee benefit without employer contributions.

An employer offering an FSA can save enough payroll related taxes (Social Security, Medicare, Federal Unemployment, State Unemployment), not only to pay the entire administrative cost of the plan, but to make this benefit a profit center instead of an expense.

An FSA can reduce the financial impact on employees when costs are shifted to the employee. Employee morale should improve rather than suffer.

An FSA, as part of a comprehensive employee benefits plan, can help attract and retain valuable employees.

We know you’re looking for a combination of Tax savings for both your company and your employees, but we can help you with a lot more than just that. We help you to provide the benefits that you need to attract and retain skilled employees in today’s workforce, benefits that increase employee morale which can lead to increases in your bottom line. Employers today are looking for ways to control costs involved in offering competitive benefits packages. Diversified Administration, Inc. can help you find innovative solutions to benefits costs that you may not have known were available.

As the leading local administrator of Flexible Spending Accounts and COBRA, Diversified Administration, Inc. prides itself on hands-on personal service. We bring a personal element into the benefits arena, and we find this personal touch is welcomed into an environment usually known for mechanical and unresponsive “Customer service” that is the norm within the industry. Are you looking for someone to really explain the complex issues facing your employees and even your HR staff? Our hand-holding philosophy is one that takes into account the intimidating nature of IRS and DOL language and regulations. We understand that the plans are complex, and we take the necessary time to explain your situation in easy-to-understand layman’s terms. We also take a holistic view of your individual situation and try to look from several different angles in order to trouble-shoot where needed and also to identify efficiencies as well.

The monthly administration fee includes total support. Our phone lines are answered “live” from 7:30 A.M to 5:00 P.M. We have 24 hour message service and a toll-free number. In addition, our HIPAA protected website allows 2 types of 24/7 access. Each participant can view his or her account online in rich detail. The Human Resources Department can view summary information for the plan as a whole, and also for each employee. The Human Resources Department cannot see any personal medical information.

Our debit card system is fully integrated with our claims and administration software. This unique feature in the industry prevents any possible gaps or over payments which often happen when the systems are run by separate vendors. In addition, our direct deposit system is also a part of our claims administration system. Because we use one integrated system and not three separate interfaces of a claims system, a debit card system and a direct deposit system, our reports and data are always up to the minute and accurate. This also eliminates much claim duplication. The software system is also designed to red flag any claim entered that has the same dates of service and amounts as other claims entered into the system. Our claims, direct deposit and debit card information are uploaded automatically each day at 3AM. In addition, we can perform manual uploads as needed.

All of our faxes are received in electronic format. Paper claims are immediately scanned and shredded. Our claims data is archived in a secure, password protected system. At the end of the grace period of each plan year, a CD of the claims is sent to the Privacy Officer of the Plan Sponsor with instructions on ERISA and HIPAA compliance. We retain electronic copies for 3 years.

One of the outstanding features in our administration system is that the employee payroll deposits are always maintained in a bank account of the plan sponsor. No funds are ever sent or wired to Diversified Administration, Inc. Our system prints checks on the account designated by the plan sponsor. In addition, this bank account would be the one that is used for the debit cards and the direct deposit. The flow is very much like a payroll service that is permitted to debit a designated account for payroll and tax purposes.

For more information on what is involved in setting up a plan with us, please visit our Plan Set Up Page by clicking here. This page outlines the necessary information for setting up an FSA or COBRA plan and is a good place to see some of the flexible options you have in creating a plan tailor-fit to your company. For personal one-on-one consultation with one of our benefits consultants, please call us at 954-983-9970 any time from 8:00AM to 5:00 PM Monday through Friday.

For more information on the services we can offer to assist your company in meeting and exceeding it’s benefits goals, click here to visit our Services page.

Here are some examples which illustrate how these plans can save your company money. We make tax savings easy for you! Just think how many additional sales it would take to increase your company revenue by $5000.00!

Employer Saving Example on a $1,000,000 payroll.

With a Section 125 Plan

$5,355 In employer Savings! – Just think how many additional sales it would take to increase your company revenue by $5,355.00!

There are some really great benefits to your company aside from the obvious. With a Section 125 plan in place an employer increases the efficiency of their payroll dollars. Since the employees are now seeing more take-home dollars in their paychecks, it is like giving a raise to each employee without having to use any additional employer dollars. And in fact the employer is making an additional savings on the matching contributions, so it is a great boost to the efficiency of the payroll dollar. Additionally few people realize that a cafeteria plan is one of the simplest and cost-effective forms of employee benefits an employer can offer.