Whether a business is looking to offer a more comprehensive health care benefits package to their employees, or find other ways to save valuable tax dollars through health care savings, where do they start? One could turn to Google and find out they need a Third-Party Benefits Administrator, but how do they know which one would be the best for their business?
A Third-Party Benefits Administrator provides and manages a business’ benefits package to help employers attract and maintain key and valuable employees, helps a business save thousands a year in tax savings, keeps a business in compliance, and assists a business with claims reimbursements and substantiation.
Some Key Things to Look for in a Third-Party Administrator (TPA):
Customer Service. Here at BASE®, we pride ourselves on the service provided to each and every client. Every business can count on our Sales Representatives to be knowledgeable, patient, and attentive to their needs.
Plan Design. BASE® offers a variety of plans designed for all types of businesses. BASE® can help provide an excellent benefits package that is customized to help maximize the potential tax savings.
Compliance. BASE® offers a compliance solution to close compliance gaps and meet federal regulations of the ACA, IRS, DOL, ERISA, as well as insurance rules and regulations, keeping a business from the harsh DOL penalty of $110 per day, per employee.
Education. BASE® has an outlet for continuing education courses, webinars, and much more.
Adjudication and Substantiation. The IRS requires reimbursements and claims of all medical expenses to be substantiated through an independent third party. BASE® adjudicates the medical expenses submitted by each participating employee and provides the proper documentation to verify the adjudication of each qualifying medical expense.
BASE® can save self-employed businesses an average of $5,000 in health care tax savings each year, provide employers with multiple employees a proven means of reducing their health insurance premiums by 10-50%, stay in compliance and away from DOL penalties, and more.
BASE® will help a business save time, save money, and stay in compliance with mandated federal regulations. For more information on BASE®, call 1-888-386-9680 or visit our website.