Riedmiller & Associates - Employee benefits with you, for you - with Employee Benefits Programs, Individual Insurance and Health Savings Accounts
Products & Services: Consumer-Directed Plans

Flexible benefits solutions and consumer-directed plans are the buzz, and they may be important answers to your health benefits puzzle.

Flexible benefit plans empower both employer and employee with tax savings and other incentives. For example, Flexible Spending Accounts (FSAs or Section 125 plans) and Health Reimbursement Accounts (HRAs) are two of the most flexible benefits plans frequently used to curb healthcare costs while enjoying real dollar savings.  

One of the most talked-about consumer-directed plans, The Health Savings Account (HSA) is a flexible benefits plan that combines a high-deductible health insurance plan with a Health Reimbursement Account (HRA) to cover part of healthcare expenses. The Health Savings Account is a popular solution for employers of all sizes that are wrestling with rising healthcare benefit expenses.

What flexible benefits or consumer-directed plan strategy is the right one for you?

Do you need a premium conversion plan? Or maybe a complex multi-option plan? And what about plan administration—would you rather not do it yourself? Through Riedmiller and Associates and our strategic partners, you’ll get the practical guidance and hands-on assistance you need to develop—and implement--your flexible benefits strategy. All with the goal of getting more control of healthcare spending and optimizing tax savings.

Whatever your flexible benefits plan, Riedmiller and Associates works closely with our strategic partners, who are experts in plan set-up and administration, to make this process a breeze. We’ll see to it that you have a smooth launch with both your HR and payroll teams. And you can expect a high level of employee participation and satisfaction, too.

More good news!

Start saving as soon as your FSA, HSA or HRA is in place. No need to wait for the new fiscal year or until it’s time to renew your benefit contracts. The sooner your flexible benefits are set up and implemented, the sooner you and your employees can begin saving. email us if you’d like to know more.

Flexible Spending Account (FSA)

With a Flexible Spending Account (FSA) or Section 125 flexible benefit plan, a participating employee may set aside some of his or her pay into an account before deductions are made for income and social security taxes. During the year, the participating employee has access to this Flexible Spending Account for reimbursement of healthcare and dependent daycare expenses. Depending on the plan options, reimbursement may also be made for qualified adoption expenses and qualified business expenses related to parking and mass transit. Tax-free dollars are used for these expenses, so the employee realizes substantial tax savings. The employer saves about 8 percent (the employer’s FICA match) on every dollar employees contribute to the plan and can take advantage of other benefits too.

Through Riedmiller and Associates, you can access knowledgeable professional services to handle FSA plan set-up, enrollment, implementation and administration at a reasonable priced. Participating employees enjoy the convenience and ease of use of a debit card and very little paperwork.

You can start an FSA plan at any time, so why wait? You and your employees can start saving now. Email us for more information.

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Health Savings Account (HSA)

Find out more about the Health Savings Account.

Health Reimbursement Account (HRA)

A Health Reimbursement Account (HRA) or HRA Section 105 Plan allows an employer to reimburse an employee for uninsured health expenses incurred by the employee or eligible dependents. An HRA enables employees to be reimbursed for a wide range of medical expenses, including insurance deductibles, medical expenses, dental and vision expenses. What’s more, the reimbursement payments are not considered to be taxable income to the employee provided that he or she has not taken a medical expense deduction for these amounts on the employee’s personal tax return. An HRA is often a self-funded health plan, in which the employer elects to self-fund benefits rather than pay premiums to an insurance company. Sometimes HRAs are put into place with a conventional health insurance plan, and the HRA allows reimbursement of  amounts not covered by insurance. Organizations of all sizes and types, from S-corps and C-corps to not-or-profits and many others, are eligible for Section 105 plans, subject to IRS code limitations.

Through Riedmiller and Associates, you can access professional turnkey services to make your HRA plan design, set-up, and administration easy and convenient. And the cost is extremely reasonable.

To start growing your savings now with an HRA or a specialized arrangement that includes an HRA, email us for more information.

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