Section 125 Rates
SET-UP
Ben-e-lect will provide CLIENTS with the following:
 |
Personalized Plan Document |
|
Summary Plan Description |
|
Discrimination Testing |
|
Administration Kit |
|
Enrollment Forms |
| One Time Only Set-Up Fee |
| Employer enrolled in other Ben-e-lect Product |
$250.00 |
| Stand Alone Section 125 Client |
$500.00 |
ANNUAL REPORTS
Ben-e-lect will provide CLIENTS with the following:
|
Employee Account Status report |
| Annual Renewal Fee |
$100.00 |
PREMIUM ONLY
Ben-e-lect will:
|
Enter employee data into administration system |
|
Update data, changes and termination's, as reported by employer |
|
Enter and maintain data on new enrollees |
| Administration Fee |
Premium Only Participants $ 2.50 |
Minimum Monthly Fee $50.00 Waived if employer is
enrolled in other Ben-e-lect product |
FLEXIBLE SPENDING ACCOUNT
Ben-e-lect will:
|
Process reimbursement vouchers on a weekly basis |
|
Mail account status letter to plan participants on a quarterly basis |
|
Mail year-end warning letter to plan participants on a monthly basis during last quarter of the plan year |
| Administration Fee - FSA Participants |
$ 5.50 |
| Per Participant (Minimum Monthly Fee $50.00 |
|
