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PowerFlex Software for Employers
A good benefits plan is critical for attracting and retaining good employees. Offering tax-advantaged options such as Flexible Spending Accounts and Health Reimbursement Arrangements can help employees and employers can shield thousands of dollars in expenses resulting in substantial tax savings for both. In today’s cost cutting environments, employers are struggling to maintain an attractive benefits offering while striving to reduce costs. This has prompted many employers to self-administer their benefit plans in-house to further reduce costs; however, this can be a complex and time consuming process unless you have the right tools.
PowerFlex Software was created with the vision of providing employers with a user friendly option to self-administer their flexible benefits programs quickly, easily, and cost-effectively. PowerFlex is loaded with functionality enhancements that will increase your administration accuracy, reduce claim processing time, accelerate reimbursements, and automate plan member communications all while keeping your internal overhead to a minimum.
Developed from the ground up by benefits experts and CPAs, PowerFlex enables you to streamline your entire benefit plan administration process. From plan and participant setup to contributions tracking to claims adjudication to reimbursement processing to plan member communications and reporting – PowerFlex does it all in one self-contained application. You can efficiently administer a wide array of reimbursement benefit plans including:
- Medical and Dependent Care Expense (FSAs)
- Health Reimbursement Arrangements (HRAs)
- Health Savings Accounts (HSAs)
- Individual Premium Reimbursement Accounts (PRAs)
- Commuter Transit and Parking Plans
- and many more . . .
PowerFlex is a modular system that lets you build the administration solution that meets your particular plan designs and business mix. You can architect the system that’s right for you without spending money on functionality you don’t need.
- The Core Benefits Administration module is the primary building block of our solution, and provides everything you need to fully administer and reimburse your flexible benefit plans.
- For more complex plans, the Advanced Plans HRA module allows you to create custom plan designs with multiple deductibles, coverage tiers, and service categories.
- Enhance your core system elements with the time and cost saving options of Debit Cards, Web-based Employee Self-Service and On-line Claim Submission.
- Go green with our Document Management module which eliminates the mounds of paper associated with claim processing and converts your administration into a total paperless solution.
When it comes to building the administration system you need to effectively your employer sponsored benefits plan in-house, you can count on PowerFlex!