Solutions to keep you Ahead of the Curve
With Advanced Benefits Management as your partner in the benefits arena, you can always be assure to have access to the latest, and most innovative solutions to empower the Consumer-Driven Health Care (CDHC) movement. We never accept “good enough” in the solutions we provide.
Flexible Spending Account (FSA)
An FSA allows an employee to set aside a portion of their earnings to pay for qualified expenses, most commonly for medical expenses but FSAs can be designed for dependent care or other expenses. Employees will see a significant tax savings as the account is funded with pre-tax dollars from their paycheck.
Health Savings Account (HSA)
An HSA with Advanced Benefits Management is used in conjunction with High Deductible Health Plans (HDHP). The HSA has a few advantages not typically found in an FSA. First, they can be funded by the Employer and those funds are tax deductible. Additionally, funds in the HSA can roll over year to year.
When used to complement the HDHP, the HSA helps to give employees health benefits they control. The HDHP provides a safety net for major medical events, while at the same time offering lower premiums. The HSA can then come in and offset the expense of the high deductible when needed. As with FSA, when the funds are used, they are tax-free for qualified medical expense.
Health Reimbursement Account (HRA)
An HRA with Advanced Benefits Management is a great way for employers to transition their employees to a CDHC system. When set up in conjunction with an HDHC plan, employers can create a great win-win solution for themselves and their employees. The HDHC typically costs less than traditional health plans. This allows employers to put aside money into an HRA that they can budget and plan for in the future. The employee can then use these funds tax-free, to help offset the higher deductibles on minor medical expenses they choose.
Consolidated Omnibus Budget and Reconciliation Act (COBRA)
COBRA is a law requiring companies with 20 or more employees to continue group health care coverage to employees if they leave their job or get laid off. Advanced Benefits Management is here to help make the transition to COBRA as easy as possible for both the employer and the employee.
Employee Resource Center (ERC)
The ERC is an exciting new addition to the Advanced Benefits Management. With this innovative tool, employers can communicate with their employees regarding all their benefits and more. Employees can log on to find timely information regarding common Life Events. And that is just the tip of the iceberg. The Employee Resource Center is a great asset to an employer’s wellness initiatives.
Existing clients can log in directly to their ERC at the top right of any page within our website.
