B3PA

Third-Party Benefits Administration Has Never Been Easier or More Reliable

Who is B3PA?

Composed of team members with years of experience in the industry. Unmatched administrative services are offered for benefit plans including Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Health Savings Accounts (HSAs) and COBRA. It is important to the B3PA team to provide the highest quality service to ensure you are receiving the best in the industry. We keep up with the most state-of-the-art technology and keep our customers in mind every step of the way which makes Benefits Third-Party Administration simple!

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Employee Benefits Plans

Health Savings Account (HSA)

HSAs are triple-tax advantaged: funds saved in the account are tax-exempt, interest and earnings gained in the savings account are tax-exempt, and payments made from the HSA for qualified expenses are tax-exempt. Participants own their individual HSAs, and they can travel with them from employer to employer, in retirement and during unemployment.

Consolidated Omnibus Budget Reconciliation Act - (COBRA)

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events.

Flexible Spending Account FSA)

Flexible spending accounts (FSA’s) are one of a number of tax-advantaged financial accounts that can be set up through a cafeteria plan of an employer in the U.S.

An FSA allows an employee to set aside a portion of his or her earnings to pay for qualified expenses as established in the cafeteria plan, most commonly for medical expenses, but often for dependent care and other expenses.

Health Reimbursement Arrangement (HRA)

Health Reimbursement Arrangements (HRAs) can be complex, confusing and overwhelming. The team at B3PA is dedicated to making your HRA work for both employer and employee. To summarize, the HRA is an employer-sponsored plan that can be used to reimburse a portion of employees’ out-of-pocket medical expenses. The employer specifies a designated dollar amount to credit to the account monthly or annually.

5500 Reporting , NonDiscrimination Testing & Commuter Benefits

Form 5500 Reporting

ERISA, DOL, and IRS regulations make compliance complicated for any business. We ensure you meet all requirements and deadlines while saving you stress, time, and money. ERISA further requires employers with 100 or more participants to report certain information to the DOL annually on Form 5500.

Commuter Benefits

Encouraging employees to take mass transit or vanpooling helps them avoid the adverse effects driving can have on their brain and mental well-being. When they’re riding instead of driving, they can also spend time on other things, whether it’s catching up on personal emails, listening to a meditation, or starting their day with a favorite podcast or music. This may put them in a better state of mind entering and leaving work. Read more about how Commuter Benefits help the Employer as well as the Employee.

NonDiscrimination Testing

If you have a Flexible Spending Account (FSA) IRS requires you to submit to non-discrimination testing once a year. The reason for non-discrimination testing is to prevent key and highly compensated employees from taking advantage of the benefits that these plans provide for employers and employees alike. Such advantages consist of an increase in take home pay because the dollars spent are pre-tax and a 7.65%savings annually on employers matching FICA tax.

B3PA has an App you can download from the Play Store and Apple Store to make life easier. Get yours today by clicking below.
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Are You And Your Clients Needing Special Attention?

We pride ourselves on the quality of care and personal attention provided to our clients and partners. Let HR Service and B3PA assist you with your Benefits Administration needs. Don’t wait until you are overwhelmed. The time is now to choose your TPA! We will earn your trust, guaranteed!

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