What is a Health Reimbursement Account?
A Health Reimbursement Plan (IRC 105) permits employers to offer enhanced tax deductible, tax free health benefits to employees. By teaming a high deductible medical plan with a HRA employers have the flexibility to design benefit plans which reduce health plan costs today while maintaining a quality benefit package for employees.
What is a Dental Reimbursement Plan?
A DRP is a self-funded employer sponsored dental benefit plan where patients are reimbursed a percentage of their expenses. Insurance is unnecessary due to the predictability of claims, low utilization and small plan maximum reimbursements.
Employee's appreciate the DRP's friendly features such as:
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Able to choose any dentist
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Patient and dentist determine the proper treatment plan, not an insurance company
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Encourages employees to shop for the best care at the best price
What are Cafeteria Section 125 Plans?
AA administers the three main components of a cafeteria plan.
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Premium Only Plan (POP) - Employees pay their employer-sponsored insurance premiums with pre-tax dollars.
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Flexible Spending Account (FSA) - Allows for reimbursement of deductibles, coinsurance, copays, and expenses not covered by your health plan.
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Dependent Care FSA (DCAP) - Use tax-free funds to pay child care, elderly care, and live-in dependent care.
Here are some important advantages of using AA to administrate your cafeteria plan;
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Plans are compliant with cafeteria plan rules and regulations
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Coordinates with all employee benefit plans.
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Automatic submission of employee medical and dental out-of-pocket expenses to their FSA - simple, efficient, and leads to timely FSA adjudication.
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AA is your one-stop resource for employees to contact for all their benefit inquiries