- Flexible Spending Accounts
- Health Reimbursement Arrangements
- Qualified Transit and Parking
- Health Savings Accounts
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Health Reimbursement Arrangements
What is a Health Reimbursement Arrangement (HRA)?
A Health Reimbursement Arrangement or HRA is a type of Medical Reimbursement Plan or MRP that allows the employer to contribute tax-free dollars to a designated employee account or accounts. These accounts are for employee reimbursement of out-of-pocket medical expenses (including insurance premiums and deductibles).
Flexible Spending Accounts
A Cafeteria Plan or Flexible Spending Account(FSA) is a reimbursement plan governed by IRS Section 125 which allows employees to contribute a certain amount of their gross income to a designated account or accounts before taxes are calculated.
Health Savings Accounts
What are Health Savings Accounts (HSAs)?
Health savings accounts are tax favored accounts that can be contributed to by or on behalf of “eligible individuals” covered by certain high deductible health plans (HDHPs) to pay for certain medical expenses of eligible individuals and their spouses and/or tax dependents.
Learn more about myCafeteriaPlan!
myCafeteriaPlan is a licensed Third Party Administrator (TPA) providing innovative solutions for your company's unique reimbursement plan needs. myCafeteriaPlan has been providing employers and their employees with the Power of Options since 1991, and is committed to bringing the highest quality service and administration to your new or existing plan.
To learn more about how myCafeteriaPlan can serve your company, read about:
From a Participant
“myCafeteriaplan customer service team member was very helpful and that is always the norm. I love that I get to talk to a live person when I call in and I do not have to deal with an automated system. I always get good service when I call in and I really appreciate that. Never change!”
- A participant phoned to let us know about their experience with our customer service team
myCafeteriaPlan believes that a reimbursement plan should be designed for the needs of each individual company. A reimbursement plan program should reflect a definite purpose – not be designed by accident. Our unique approach involves the following process:
- Discovery – determining goals, needs and resources
- Design – structuring a program based on each company’s unique characteristics
- Implementation – processing, documentation, and communication of plan details to all participants
- Service – day-to-day administration of your cafeteria plan and employee assistance
- Monitoring – reviewing and updating programs to see that they remain effective and cost competitive
We recognize employee benefits play a large part in employee satisfaction and that the happiest employees make the happiest employers. To that extent, we work hard to put a smile on your face.
Our mission is to provide your company with professional third party administration that promotes – Happy Employees. Happy Employers.
TPA Specialists Since 1991
myCafeteriaPlan is an experienced third party administrator (TPA) for:
- -Section 125 Cafeteria – Flexible Spending Account (FSA) Plans
- -Section 105 – Healthcare Reimbursement Arrangement (HRA)
- -Section 223 – Healthcare Savings Accounts (HSA)
- -Section 132 – Qualified Transportation (Transit) Plans
- -Across the United States, companies just like yours have trusted us since 1991.
Seasonal Eligible Expenses – Is Over-the-Counter Medication Eligible? Have you been suffering from the flu or a cold lately? Many people enrolled in pre-tax benefits such as Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) may be wondering if their funds can be used to pay for Over-the-Counter (OTC) medications to treat their cold […]
Maximize Your Flexible Spending Account with Correct Claim Documentation When submitting documentation for claims, it is important to remember the requirements for substantiating eligible expenses. There are five pieces of information required by the IRS in order to confirm an expense is eligible to be reimbursed pre-tax from a flexible spending account (FSA). The required […]
The Small Business Healthcare Relief Act May Provide Additional Options When IRS Notice 2013-54 was released at the end of 2013, it contained information that put an end to most stand-alone Health Reimbursement Arrangements (HRAs). Many employers used HRAs to provide additional benefits to their employees. Small employers used HRAs to provide funds for […]
Making the Most of your Flex Debit Card Many employers offer the convenience of a flex debit card as part of their pre-tax spending accounts. With the flex debit card comes the convenience of being able to pay for out of pocket medical expenses at the point of sale without having to wait for a […]
With today’s technology advancing at a rapid pace, consumers have come to expect the availability of digital tools to help manage their various accounts. Healthcare is no different. Employees participating in a health plan, from health insurance to flexible spending accounts, can benefit from the use of technology such as mobile apps to make the […]