Plan Support

Flex Compensation provides all of the plan support services you need, even if you self-administer your plan. These support services are optional and can be purchased either individually or as a part of our standard support packages.

Basic plan support includes :

  • Legal and regulatory updates through our proprietary plan administration manual and periodic FlexNotes newsletters.
  • Plan document and Summary Plan Description (SPD) updates as legal requirements change.
  • Toll free access to the Flex Hotline for answers to all your plan design and administration questions.

    Extended plan support includes:

  • Nondiscrimination testing and detailed analysis of corrective measures when necessary.
  • Form 5500 preparation and electronic filing.
  • Updated annual employee communication material.
  • Access to online FSA enrollment during open enrollment.

  • Plan Documents

    Flex Compensation will provide drafts of the required plan document and summary plan description (SPD) in our standard prototype format. These documents should be reviewed by your legal counsel. Flex Compensation is not licensed to practice law. We serve as a resource for you and your legal counsel.

    Plan Design Consulting and Implementation

    The success of your flexible benefit plan depends on good planning. When planning even a simple flexible spending account plan, there are practical considerations and legal impacts that need consideration. Our experience can help you make informed decisions on such issues as plan effective date, eligibility criteria, participation dates, changes in family status and legal requirements.

    If you are implementing a more comprehensive cafeteria plan, Flex Compensation can help you:

  • Define plan goals and objectives
  • Determine plan options
  • Develop benefit credit methodologies
  • Determine option pricing strategies
  • Control adverse selection
  • Assess administrative implications and prepare for them
  • Employee Communication

    If your employees don't understand and value their benefits, the investment you make is wasted. FlexCompensation can provide effective communications to improve the success of your flexible spending account plan or your comprehensive cafeteria plan.

    You can take advantage of our standardized communication materials - newsletters, enrollment kit and video - or we can custom design special communications for your organization, incorporating your company's style, unique goals and plan design.

    We can also help with employee meetings to communicate benefit changes and options. We can either conduct on-site employee meetings or provide you with "train the trainer" sessions that include our prepared script and color visuals in overhead or slide format.