Leave of Absence Support
Any employer-sponsored benefit plan should also have a thoroughly thought-out Leave of Absence (LOA) policy. Part of any LOA policy includes the need to track LOA employee contributions when a payroll deduction is missed, direct bill them as necessary, and notifying employees who have exhausted their protected LOA with any compliance requirements such as COBRA and Portability or Conversion rights that they may have. In addition, should you outsource your LOA policy to a third-party Absence Management vendor, the employee data they require needs to get to them consistently to administer your LOA policy efficiently. Again, BSC can assist you with all of these LOA needs.
Flexible Spending Accounts Support
The potential tax savings for your company and your employees make Flexible Spending Accounts (FSA) and Dependent Care Spending Accounts (DCSA) an essential part of your benefit offerings. BSC can provide additional support for your FSA/DCSA programs. We offer the conveniences of:
- Collection of pledge amounts during annual open enrollment and new hire enrollment
- Pledge deduction amounts sent to payroll
- Pledge amounts sent to FSA/DCSA vendor
- Terminations sent to FSA/DCSA vendor
- Post-payroll employee deductions sent to FSA/DCSA vendor
- Optional funding of FSA/DCSA vendor
Health Savings Account Support
By offering High deductible health plans (HDHP) with Health Savings Accounts (HSA), employers add valuable tools to combat ever-increasing health care premiums. BSC will support your HDHP and HSA administration for you and your employees. We offer the conveniences of:
- Collection of pledge amounts during annual open enrollment and new hire enrollment (employee can select only with HDHP enrollment)
- Pledge deduction amount sent to payroll
- Post-payroll deductions amount sent to HSA bank
- Terminations sent to HSA bank
- Optional HSA bank funding
