Agent/Broker Information
UNIQUE ADVANTAGES OF USING BENEFITS DESIGN GROUP, INC. AS THIRD PARTY
ADMINISTRATOR
As is the case with many products on the market, there are a number of vendors
available to provide the same basic services to your corporate clients. So
why choose Benefits Design Group, Inc. over one of our competitors? The
following sections summarize the key advantages of using our company to
administer your client's Section 125 program.
EXPERTISE AND FLEXIBILITY OF SERVICE OPTIONS
Benefits Design Group, Inc. has been administering Section 125 and Section
105 plans since 1987. We administer plans for over 1000 employers nationwide,
representing over 35,000 employees. Our groups range in size from two
employees to over 4,500 employees. Unlike many administrators, all we do is
flex plans and, by specializing, we are able to provide a comprehensive
service at a reasonable cost to the client. We are available to assist you with
selling the program and you and your client with installation and
communication of the program. We provide two service options to assist you in
designing the plan that best suits your client's needs.
CERTIFIED IN FLEXIBLE COMPENSATION
In the fall of 2002, Sue Sieger CFCI, was upgraded to the designation
"Certified in Flexible Compensation Instruction." She joins the few
practitioners that the Employer's Council on Flexible Compensation (ECFC) has
awarded such designations. To achieve this designation, Sue originally
underwent a rigorous examination covering plan design and administration, the
law, regulations and ethical standards in 1999. Since then, Sue has completed
the required continuing education credits to upgrade her designation to the
instructor level.
The professional certification program was initiated in 1999, following
several years of study and curriculum development. The instruction
designation has been awarded to those with long-time experience who will, in
turn, serve as instructors for others who wish to pursue the certification.
Any individual certified will need to recertify in 3 years and may do so
through completing continuing education credits through ECFC or another
approved source.
Shawn Bresnahan, CFC and Kim Ness, CFC have also jointed the ranks of CFC
in 2004 and 2006 respectively.
QUARTERLY NEWSLETTER
The newsletter is sent to all clients and agents in January, April, July, and
October each year. This has been an excellent resource for regulatory
updates. It also is a forum to communicate system and administrative news or
changes.
WEBSITE
Our website has the latest in tax law updates, on-line brochure, downloadable
forms, and more! See our client services section where employers and
employees can check the status of their accounts on-line.
"AT-RISK" INDEMNIFICATION FEATURE
Under the IRS Regulations, the Unreimbursed Medical spending account is
required to exhibit the same type of risk shifting characteristics as
insurance. At any time during the plan year, the FSA must provide 100%
reimbursement of incurred expenses up to a maximum annual benefit amount
elected by a plan participant. The funds must be made available to the
participant, even though the deductions for that account have not yet been
deducted from the employee's pay. If the employee terminates prior to the end
of the plan year, the employer is "At Risk" for the amount not yet
deducted from the employee's pay. In order to offset the potential loss to
the employer, we provide protection that limits the employer's out-of-pocket
exposure for voluntary terminations, regardless of how many employees are
participating in the Unreimbursed Medical account. This service is unique to
Benefits Design Group, Inc.
COMMISSIONS
Earn commissions through Benefits Design Group! Complete the Agent Information Sheet
below and return it to our offices so we can prepare the agent setup
paperwork.
Agent Information
Agent/Broker proposal request form
Section 125 Plan Installation kit - New
Contact Benefits Design Group, Inc. TODAY, to
find out more about partnering with us for value-added services!
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