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FSA Administration

BASIC is a nationally recognized Third Party Administrator specializing in Flexible Spending Accounts (FSA).

With the state of health care today, and the ever-increasing costs to both employers and employees, BASIC has a win-win solution for you. Download the BASIC Flex Brochure (pdf) for details!

BASIC Flex Features

Compliance

  • We are dedicated to providing regulation compliant administration to protect our clients. We ensure that your plan continues to meet the ongoing changes.
  • Compliance administration includes plan documents, non-discrimination testing, summary plan description, and form 5500 (if required).
  • Our Flex staff are Certified Flexible Spending Account experts.

Innovative Technology

  • Benefits by BASIC Mobile App helps you save time and reduce hassles by checking balances, transactions, claim details and submit claims all from your smart phone.

Moblie App FSA Administration

  • Electronic files (EDI) for enrollment, ongoing eligibility management, and payroll deductions.
  • Pay with BASIC Benefits Card to eliminate the need for a reimbursement.
  • Online access to plan activity for you and your employees.
  • Multi-media educational materials available for you and your employees.

Superior Responsiveness

  • Each client is assigned a dedicated account representative to support your business. You will be given their direct phone number for easy access and superior service.
  • Claims processed every business day with an accuracy rate of 98.98%!
  • Check or direct deposit reimbursement options available.

Flexibility

  • Ask your BASIC account representative for the option that best
    suits your business.

    • BASIC Benefits Card
    • BASIC Premium Only Plans (POP)
    • BASIC Self Administration
    • BASIC Flex Limited Purpose, for use with a Health Savings Account (HSA)
    • Individual Premiums (IPA) for Individual Medical Coverage not part of group   health plan.
  • Pricing is based on participation, giving the same advantage to any size group.

Save money using a Section 125 Flexible Spending Plan (FSA)

Employer Savings with BASIC Flex

  • Every dollar that your employees commit to an FSA saves you the matching FICA payroll taxes (7.65%).
  • A mature BASIC Flex plan can yield more dollars in tax savings than the fees spent to administer the plan.
  • One of our current FSA customers with 62 participants has a positive cash flow of $6,053.

Employee Savings with BASIC Flex

  • Employees save 25-40% on each pretax dollar included in a Flexible Spending Account (FSA). These dollars are contributed for group health insurance premiums, out-of-pocket medical, dental/vision and dependent care expenses.
  • Gives employers the ability to leverage pretax savings to control premium rate increases and boost employee spendable income.

Access our employee Flexible Spending Account (FSA) savings calculator to see your figures now!

For more information on BASIC FSA contact us today!