Today many innovative solutions are available to help businesses address escalating health care costs and improve administrative efficiencies. The tax-saving features of account-based plans can provide substantial savings for you and your employees. Bukaty Companies has the in-house expertise and integrated technology to provide your company with a comprehensive suite of administrative services.
Our Benefit Administration division works with businesses of all sizes. Our hands-on approach ensures your account administration setup is seamless. We’ve been providing full-service administration for consumer-driven and traditional account-based plans for more than 20 years.
The flexibility and tax advantages of an HSA contribute to their rising popularity. When combined with a high deductible health plan, HSA funds can pay for qualified medical, dental and vision expenses not covered by insurance. Employee- and employer-paid HSA contributions rollover each year and are not forfeited when an employee retires or leaves employment, making HSAs a great personal savings vehicle.
Employers who sponsor an HRA appreciate their plan design and funding options. HRAs can be customized to address rising deductible limits or high out-of-pocket annual limits. Employer contributions are not subject to income, FICA or workers’ compensation taxes and are tax deductible for employers. HRA funds are maintained by the employer and only disbursed when an employee has a qualified expense defined by the employer plan.
An FSA is often the cornerstone of an employer’s benefit package. Employees set-aside pre-tax payroll dollars to pay for qualified medical, dental and vision expenses and dependent care costs. Improved technology and debit card access make the FSA a must-have in any benefit lineup.
Complex regulations and record-keeping requirements have made in-house COBRA administration a daunting task for most employers. Clients who use our COBRA administration services are relieved of the burdensome responsibilities associated with event notification, payment tracking, reporting, and general compliance.
Staffing changes create continual fluctuations in your employee benefit enrollment. Reconciling monthy billing statements from multiple carriers can be challenging and costly. We simplify the process with our combined billing solution. We take responsibility for ensuring carrier statements are accurate and paid on time. You receive a consolidated bill and make a single payment for all carrier obligations.