Winthrop &Gray will offer all of your employee benefit solutions

Flexible Benefit Plans - COBRA & HIPAA Administration - Consolidated Billing - Flex Debit Cards - Health Savings Account - Benefits Call Center

 

Unique Administration Services

Winthrop & Gray Co. offers a host of extra administration services to make your company more effective and to reduce your overall administration costs. At the same time, we take the burden of keeping up with new tax and legal legislation so the employer does not have to get involved. WGC is up to date on all issues that may affect your company's Employee benefits programs and we make changes where needed to assure compliance with the new regulations.

WGC provides an array of Administration services for every employer's individualized needs:

Flexible Account Administration - Section 125 Cafeteria Plans

Also known as Section 125 plans of the IRS Code, Flexible Spending Accounts (FSAs) offer tax advantages to both Employers and Employees. These plans offer Employers a way to save taxes on money spent out-of-pocket for dependent care and medical expenses.

Money allocated to a Section 125 Plan is subtracted from the Employee's taxable income and held in a dedicated account. Employees benefit by using the pre-tax income to pay eligible medical and dependent care expenses. In reducing the Employee's taxable income base in this way, Employer-paid Social Security (FICA) and Unemployment taxes are reduced by approximately 8 cents on the dollar. These savings can offset the cost of administrating the FSA program. Health care cost sharing becomes less painful for the Employer and Employees. It also improves morale by reducing Employee taxes, enhances your orgaization's image and attracts new Employees.

WGC offers both medical reimbursement and dependent care FSA programs, along with premium only plans (POPs).

Administration services can be interfaced with the medical and dental plans to allow for automatic filing and payment of eligible spending account allocations upon processing of the group benefit plans.

WGC is customer service oriented; we have established an excellent rapport with our clients' Employees and we work closely with them when issues arise, from questions about what is covered in their Flexible Spending Account, to easing the burden on human resources. Reimbursement checks can be issued based on the Employer's desire to accomodate their Employees' needs

Flex Debit Cards

With a Flexible Spending Account Debit card, your Employees can enjoy the convenience of paying for office visit co-pays, new glasses, prescriptions, and other eligible expenses with Mastercard, Debit Card that is linked directly to their FSA account. Using the debit card, no paperwork is necessary to file a reimbursement claim.

Health Savings Account (HSA) - Plus Debit Card

A HSA is a health savings account that has certain tax advantages to Employees and their families covered under a high deductible plan. Like the FSA, an HSA provides that an Employer may subtract a certain amount of the Employee's taxable income to deposit into a dedicated account. The difference is that these plans are only applicable tor Employees under current health plans that have a deductible between $1,000 and $2,600 annually for individuals and $2,000 and $5,150 for a family. The maximum amount that may be put away is $2,000 per year.

Distributions for qualified medical expenses are tax free, and an HSA account can earn interest tax-free and may be eventually rolled ofer into a 401(k). The HSA is owned by the Employee and is portable. Unlike a Cafeteria account there is no "use it or lose it" provision and funds can be rolled over year to year. Employers who choose a health care plan with high deductibles to decrease costs may lessen the hardship on the Employee by instituting HSA accounts. At the same time, because of high deductibles, Employees experience the true cost of healthcare and start becoming cost conscious consumers.

COBRA & HIPAA Administration

Winthrop & Gray Co. offers complete administration of your COBRA requirements. WGC will perform the following COBRA administration functions:

• Receive COBRA elections from eligible participants and process application forms

• Track coverage periods as dictated by law and maintain proper documentation of COBRA activity.

• Provide expert advice on COBRA related issues.

• Collect participant payment.

• Answer inquiries from qualified beneficiaries.

• Handle monthly reporting.

COBRA administration is both complex and time consuming. By allowing WGC to handle your COBRA coverage, Employers are assured of adherance to the ever-changing regulations governing it. Like all of our programs, our unique system design provides for the integration of claims management and COBRA eligibility. Employers are relieved of the liability and the burden of staying on top of changing legislation. WGC will handle all member notifications.

Full-Service Administration -

Because we manage a large number of clients in our system, we are able to spread the fixed costs to achieve economies of scale that an Employer could not. Employers avoid the expense of the staff and technology associated with administration of COBRA.

HIPAA Administration

HIPAA administration requires specialized knowledge of how governmental requirements relate to group insurance plans. Special notice requirements concerning pre-existing conditions, exclusion periods, rights regarding prior creditable coverage and certificates, along with the necessary calculations can be an area of great confusion. Winthrop & Gray Co. is able to eliminate this confusion and assure compliance with HIPAA provisions. We prepare the necessary notifications, and work with eligible participants to gather prior coverage information. We verify all information received, calculate periods of creditable coverage and pre-existing exclusion periods, then track those periods within our eligibility and claims adjudication systems.

This added service provides assurance of HIPAA compliance without the associated confusion and time-consuming administrative tasks.

In-House Benefits Call Center

Free the Human Resource Department

The human resource department for any Employer should be focused on core business competencies and company strategies, not on minor administration issues.

Winthrop & Gray Co.'s Call Center provides a full range of services and benefits to Employers. WGC has the experience, management, and staff to handle routine Employee inquiries freeing Human Resources to focus on more important issues.

Our Toll Free Call Center provides a centralized access point to resolve all Employee issues. WGC's Call Center can also be utilized for enrollment and re-enrollment.

If you have questions or need a quote - Click Here