Benefits of Third-Party Administration Has Never Been Easier or More Reliable
Composed of team members with years of experience in the industry. Unmatched administrative services are offered for benefit plans including Flexible Spending Arrangements (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!
Benefit Plan Options
5500 Reporting & Commuter Benefits
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.
Form 5500 returns ask for information about the plan, including the plan name, plan year, plan sponsor, plan number, participants, insurance costs, and financial data. Late filing of form 5500 can result in fines as high as $1,100 per day.
Only 2019 and 2020 Forms will be accepted by EFAST2: Effective January 1, 2021, the EFAST2 System will only accept 2019 and 2020 forms. Therefore, if an earlier plan year filing needs to be submitted (for an amended filing or a first-time late filing) the prior to 2019 form needs to be prepared on the most current available form, which right now is a 2020 Form 5500.
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.
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!