General | Technologies | FSA | HSA | HRA | Transit
COBRA/Continuation & Retiree Billing | Wellness
Q. Why should I outsource my company's employee benefits? - Back to Top
A. The role of a human resources (HR) director must be parallel to the needs of their company, while serving as an advocate for employees. Consequently, many HR directors are not only responsible for handling employee relations, benefits and compensation, they are also tasked with complying with health care and employee benefits regulations—all while maintaining quality hiring practices and policies to remain competitive and avoid legal pitfalls. Unless a company is able to hire specialists for specific areas of HR, rather than generalists, some of these complex areas may not be given the attention they require. Changing Federal and State regulations and legislation only complicate the issues further and leave HR directors wondering how to balance the needs of their companies with their employees.
For 30+ years, Eide Bailly has provided the expertise and services to support HR directors with some of their most challenging responsibilities, including employee benefits administration, employee benefit plan audits, employment background screenings and executive search. Our focused expertise can alleviate the pressure of hiring the "right" person for your company and maintaining compliance with regulations and legislation, so you can focus on business strategy and employees.
Q. Who can I contact to request a proposal? - Back to Top
A. Please contact our front desk at 612.253.6636 and ask to speak with a sales consultant. One of our friendly, knowledgeable consultants would be glad to discuss the details of the plan(s) you want as well as give you a quote. You can also request a quote by clicking the 'Request a Quote' button on the left side of the main page.
Q. Who can I contact to discuss the different plan types in more detail? - Back to Top
A. Please contact our front desk at 612.253.6636 and ask to speak with a sales consultant. One of our friendly, knowledgeable consultants would be glad to discuss the details of any of the plans we offer.
Q. Can you provide references similar to my company or plan type? - Back to Top
A. Yes! Please let us know if you would like references along with your RFP and we will gladly provide contact information for groups similar to your own as references.
Q. Does Eide Bailly have a website for my H.R./Payroll/Benefits team and employees use for their benefit plans? - Back to Top
A. Yes. Your organization will be supported by state-of-the-art participant and employer websites that are already developed and will be ready for you. All plans are integrated on the website, so your employees and your H.R./Payroll/Benefits team can access their FSAs, HSAs, HRAs, VEBAs, and/or Transit Accounts all from a single site with just one sign-on. We also offer a comprehensive website for employers and COBRA/Continuation & Retiree Billing participant use.
From our participant website, employees can view their full account summary, payment history, election summary, descriptions of plans, profile, pre-tax plans, pre-tax forms, claim confirmation, claim statuses and receipt statuses.
For employers, our website allows your H.R./Payroll/Benefits team to view scheduled reports and notifications, request benefit related information, view plan details for all your plans, download the latest forms and more.
Q. Does Eide Bailly have a mobile app for my company's employees to use? - Back to Top
A. Yes. With the Eide Bailly mobile app, 'Benefits', participants can check account statuses, manage accounts, file claims and upload receipts, and sign up to receive email or text message alerts. To download the 'Benefits' app click here for Apple products or here for Android.
At Eide Bailly, we work hard every day to help your employees get the most benefit from their benefit accounts.
Q. Does Eide Bailly offer any programs to help educate my employees on their benefit plans? - Back to Top
A. Yes. Eide Bailly is pleased to offer you Learn CDHC, the first of many solutions designed to help you educate your employees about the consumer-driven healthcare accounts you provide.
Eide Bailly is committed to helping you control costs by offering consumer-driven healthcare accounts. By using Learn CDHC, you can ease the burden on your HR staff by providing educational tools available 24/7 that educate your employees about the benefits of using consumer-driven healthcare accounts.
Learn CDHC offers an individualized web site on which you can choose to have one or more educational presentations appear that explain HSA, HRA, and FSA accounts. A video host guides your employees through the interactive presentations. Presentations contain easy-to-follow explanations accompanied by graphics that help enhance the learning experience. Learn CDHC provides you with a fun, easy-to-use, and informative tool to help your employees understand the HSA, HRA, and/or FSA accounts that you offer as part of your overall health benefits package.
Aside from CDHC, we also offer an array of forms and documents that are available on the main webpage, the participant website, at open enrollment and for employer office use.
Q. Does Eide Bailly offer a debit card? - Back to Top
A. Yes. The debit card (called the Eide Bailly One™ Card) is a MasterCard that has been pre-loaded with participants' Health Care, Dependent Care, Limited Purpose, HRA and/or HSA elections. This provides the ease and convenience of not having to pay expenses out of pocket and seek reimbursement manually by submitting a claim form.
Q. Do employees need to get a new card each year? - Back to Top
A. No, the card is good for three years from the date of issue. It can be used for subsequent plan year pre-tax accounts.
Q. By providing a debit card, will pre-tax accounts now be completely paperless? - Back to Top
A. Unfortunately, no. It is possible that up to 80% of claims will process automatically at the point of sale or with carrier feeds. However, because of IRS requirements, some expenses will still require manual substantiation.
Q. How are FSAs funded? - Back to Top
A. Employees makes pre-tax contributions to their FSA account up to the yearly IRS limits through contributions from their paychecks. Employers can also choose to contribute.
Q. How does Eide Bailly help my company with Flexible Spending Account Administration? - Back to Top
A. From premium-only plans to full Flexible Spending Account (FSA) administration with medical and dependent care reimbursements, we provide design, implementation and administration to meet each employer's needs. Employers and participants benefit from tax savings, while enjoying a high level of service, debit card access and weekly reimbursements.
Q. How can I determine if Flexible Spending Accounts are right for my company? - Back to Top
A. The needs of employers and employees are changing, and Flexible Spending Accounts (FSAs) are designed to meet those changing needs. Eide Bailly Employee Benefits professionals can help evaluate whether an FSA is right for your employees, whether your needs are for a standard FSA, or one that integrates with a Health Savings Account (HSA) or Health Reimbursement Arrangement (HRA). Call us at 612.253.6636 to speak with a consultant about whether or not an FSA is right for your company.
Q. What should I look for in an FSA administrator? - Back to Top
A. For more than 20 years, FSA plans followed very specific procedures and their administration was straight-forward. However, with the increasing popularity of HRAs and HSAs, as well as the coordination necessary between these plans and the flexible spending accounts, the requirements and ever-changing regulations have become more complex, time-consuming and worrisome. Your FSA administrator must manage the evolving parts of the plans and keep it simple for participants. Eide Bailly Employee Benefits does just that—putting the "flexible" back into flexible spending account administration.
Q. Why should I choose Eide Bailly? - Back to Top
A. In developing an FSA plan that meets your needs, we work with you to consider all legal, regulatory and participant requirements. Our experience with HSAs and HRAs allows us to develop tracking and reporting requirements that meet both employer and participant needs. And, as your needs or regulations change over time, we work with you to ensure the FSA design adapts to these changes.
Q. What is the difference between an FSA and an HRA or HSA? - Back to Top
A. Please see our comparison chart here to understand the differences in plan types.
Q. How are HSAs funded? - Back to Top
A. The employee and employer can make pre-tax contributions to the HSA account up to the yearly IRS limits. Contributions can be made at any time during the year, provided an employee is covered by an HSA-qualified plan and not on Medicare or covered by another low-deductible health plan. In 2013, the IRS-defined maximum contributions are:
- $3,250 for individuals
- $6,450 for families
- $1,000 "catch-up" contribution allowed for people age 55 and older
Additionally, any third party can make contributions. However, third-party contributors do not receive tax benefits.
Q. How does Eide Bailly help my company with Health Savings Account Administration? - Back to Top
A. Among the newest health plan models, HSAs have specific health plan requirements and various funding choices. Our solution is comprehensive; with fund vehicles, administrative options and educational communications tailored to each employer.
Q. Why should I choose an HSA? - Back to Top
A. HSAs allow you and your employees to save money. Your company can take a deduction for the contributions made. Also, an HAS-qualified plan typically will have lower premiums than a traditional plan. For the employee, the account can be used to pay for qualified medical expenses, or if unused, the money grows tax-free year-to-year. HSAs also allow employees to retain more control over their health care expenses. HSA-qualified plans are not as restrictive as HMOs, employees can keep their own doctor, and HSAs can be used to pay for additional expenses not covered by the health plan.
Additionally, employees do not pay taxes on withdrawals for eligible medical expenses and can keep the HSA even if they lose or change jobs, retire or leave the qualified health plan. They have the option of keeping the money liquid in a bank account or investing it in mutual funds. HSA funds can be withdrawn after age 65 with no penalty and money from other tax-advantaged accounts can be rolled over into an HSA.
Q. What is the difference between an HSA and an FSA or HRA? - Back to Top
A. Please see our comparison chart here to understand the differences in plan types.
Q. How are HRAs funded? - Back to Top
A. HRAs are funded entirely by employers. The employer determines the amount that is available to the employee. Typically, HRA funds can roll over year-to-year; however, this is determined by the employer when the account is created. HRAs are owned by the employer and do not accrue interest.
Q. How does Eide Bailly help my company with Health Reimbursement Account Administration? - Back to Top
A. Because HRAs vary widely in plan design and objectives, we assist employers in developing a plan that will satisfy their needs. Our experience with HRAs also allows us to help with internal communication of plan offerings that educate and assist participants with utilization.
Q. Why should I choose an HRA? - Back to Top
A. HRAs are often created by employers to complement high-deductible health plans, paired with other types of health plans or may be used alone. The employer determines the amount of funds that will be available to the employee and what types of expenses qualify. Employees are reimbursed for out-of-pocket medical care, as long as the expenses are qualified and do not exceed the maximum reimbursement set by the HRA. Once HRA funds are exhausted, employees are responsible for all additional out-of-pocket expenses until the next plan year begins.
Q. How do HRAs benefit my company? - Back to Top
A. Employers can control medical costs and offer employees assistance with out-of-pocket medical expenses. This can make high-deductible health plans more attractive. Employers can increase employee satisfaction by offering this form of nontaxable income by creating an account and setting aside monies for them to offset the cost of the deductible and other eligible expenses. HRAs also help to promote healthy lifestyles by increasing the focus on wellness.
Q. What is the difference between an HRA and an FSA or HSA? - Back to Top
A. Please see our comparison chart here to understand the differences in plan types.
Q. How does Transit Account Administration benefit my employees? - Back to Top
A. Transit expenses, including van/car pool and parking requirements for work may also be funded with pre-tax dollars by participants when established as a plan by the employer. Our service provides for the most current allowances, carry-overs and systematic processing.
Q. How does Eide Bailly help my company with Transit Account Administration? - Back to Top
A. Our professionals can help you determine if this type of plan would benefit your organization. A Qualified Transportation Plan can be integrated with your Flexible Spending Account benefit to simplify coordination and administration. We offer web access for both employers and participants to provide them with continuous information regarding their account activity and fund availability.
COBRA/Continuation & Retiree Billing
Q. How does Eide Bailly help my company with COBRA/Continuation Administration? - Back to Top
A. Given the continuous changes and time-consuming tracking requirements associated with COBRA, many organizations choose to outsource. Our comprehensive COBRA process validates that all activities and correspondence are in compliance with changing regulations, relieving employers of these time-consuming tasks.
Q. What COBRA services does Eide Bailly offer? - Back to Top
A. Eide Bailly offers comprehensive COBRA administration that relieves employers of the activities, correspondence and pressure of COBRA administration. We provide all documentation, notices, forms and recordkeeping as well as stay abreast of the latest COBRA changes and requirements. We take care of communicating with plan participants and your insurance carriers to help ensure that you stay in compliance. We can also help employers evaluate their current COBRA process to determine if they are in compliance.
Q. How can my company benefit from Eide Bailly's COBRA services? - Back to Top
A. Eide Bailly's COBRA specialists work with your HR team to help ensure that you are in compliance. Your company will benefit by our experience and our ability to administer your COBRA. We'll free up your HR personnel to focus on other aspects of their business. We communicate with you continually and help make the process easy and uncomplicated for COBRA participants. Every aspect of COBRA administration requires timely processing – we ensure that deadlines are met.
Q. How can Retiree Billing help my company? - Back to Top
A. We handle all communication, enrollment and processing of payments for your retiree participants. This includes billing retirees for their health insurance premiums and collecting premium payments at no extra cost via automatic clearinghouse (ACH) deductions. Eide Bailly also communicates enrollments and terminations to your insurance carriers. We handle all recordkeeping for your company's retiree benefits continuation.
Q. Does Eide Bailly offer any wellness services? - Back to Top
A. Yes! Eide Bailly is committed to helping your company control health care costs and promote healthy lifestyles among your employees. To do so, we offer My Personal Health Suite, a complete health and wellness toolkit for employers to help employees keep on track with diet, exercise, stress management, smoking cessation and other health and fitness goals.
This state-of-the art, robust and affordable service is available for all size employers. My Personal Health Suite is offered as an optional service to support employer efforts in health care consumerism. It is available online and provides fun and motivating tools along with hundreds of links, videos and audio files all designed to help your employees increase their focus on healthy habits, prevent illnesses and injuries and reduce medical costs.
Q. What is the benefit of offering my employees My Personal Health Suite? - Back to Top
A. Offering My Personal Health Suite adds value to your benefits package because it encourages employees to improve their wellbeing and, therefore, reduces their medical costs. This service includes:
- Wellness assessments
- Thirteen six-week, online science and human behavior-based wellness programs
- E-mail reminders for encouragement and links back to the wellness programs
- Virtual personal trainer
- A personal health record to document health conditions, medications, medical histories, lab results and other health-related information for employees and their family members