American Benefit Services offers a broad range of products and services to meet your benefits needs.

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Health Saving Accounts (HSA) Administration

Effective January 2004, Congress passed legislation for HSAs for individuals participating in high deductible health insurance plans. This account is designed to allow individuals to contribute either the amount of the health plans annual deductible or up to $2850 and families up to $5650 (2007, $2900 & $5800 - 2008). This account can be used similar to an FSA or HRA to reimburse individuals for unreimbursed health plan costs. The main differences with this type of account are that both the employer and the employee can contribute to this account, and that the account is portable for the employee. Administration of these plans will be very similar to both FSA and HRA accounts. More ...

Health Reimbursement Arrangements (HRA) Administration

Expert plan design, including Summary Plan Description
Coordination with other benefits, including high deductible plans and FSAs
Critical nondiscrimination testing
Claims processing & monthly reimbursement
Year-to-date reports to employer
24/7 web-based participant account information
IRS Form 5500 preparation, if needed
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Flexible Spending Accounts (FSA) Administration

Plan Document Preparation / Amendment for filing with Department Of Labor
Corporate Resolution Adopting / Amending Plan
Discrimination Testing (both initial and interim year)
Custom Forms
Computer Setup, Eligibility Entry
Flexible Spending Claims Payment
Recordkeeping and Reporting
Signature-Ready Form 5500 Preparation, if needed
Accounting Functions as Required by the Plan
Continued Administrative Support for Employer and Employees
24 Hour Account Info Access via the internet
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Consolidated Omnibus Budget Reconciliation Act (COBRA) Administration

A one-time mailing of Initial Notifications to all current active participants
Initial Notifications sent to all new employees as they become covered under the group health plan
Notification to Qualified Beneficiary (s) of eligibility and COBRA rights, once a qualifying event has taken place
Collection of monthly premiums
Correspondence as necessary to participants regarding changes, termination of COBRA, etc.
Notification to insurance carriers of elections and terminations as needed
Monthly remit of premiums and reporting of all activity to the Employer
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Web Access to Accounts

ABS will provide on-line access to both employers and employees to view their account information. Employers will have the ability to add or terminate employees, as well as the ability to make any changes to employee accounts or eligibility status. Employees will be able to change things such as their contact information, as well as being able to view current balance along with past transactions.

Debit Card Administration

All employees using the FSA and HSA services with ABS will have access to a Debit Card for this service to help alleviate the need for claims filing and provide instant access to your account funds. These funds will be accessible in real time, using a direct connection to the individual account to verify the balance available.