Features of the PowerFlex for TPAs Core Administration module
The PowerFlex Core module gives you everything you need to fully administer flexible benefit plans for multiple employer groups from start to finish. With one easy to use program you can track payroll contributions, accumulate qualifying expense claims, process reimbursement checks or direct deposit transactions, and print detailed reports.
In addition to the basic capabilities that you’d expect to see in a flexible benefits administration system, the PowerFlex Core Module is loaded with important time saving capabilities that let you reduce your internal resources and enhance your bottom line! From plan setup, to claim adjudication, to reimbursement processing, to automatic communications and reporting, PowerFlex was built from the ground up to allow TPAs to provide efficient plan processing and superior customer service, using fewer agents per participant. That adds up to happier customers and higher profitability.
Consider the number of hours per year PowerFlex’s TPA-strength features can save your firm:
- Calculate and print month end invoices out of PowerFlex in minutes, saving hundreds of accounting hours per year.
- Email a claim entry summary to each participant any time claims are entered, improving communication and reducing inbound customer service calls.
- Create personalized participant emails to relay important information like plan balances, account verifications, claims/reimbursements, and general notifications. Create and email thousands of emails in seconds to dramatically improve the customer communication lines and reduce internal overhead.
- Email hundreds of reports to your employer groups with a single click. Customize the report lists for each employer group, and group reports based on reporting cycles like “Month End Reports” or “Reimbursement Cycle Reports.” Accurate, timely reporting is essential in keeping employer groups informed and preventing unpleasant surprises.
Comprehensive Plan Administration:
- Administer multiple benefit plans types (FSAs, HRAs, Transit-Parking, and more!)
- User-friendly interface and easy navigation makes setting up plans a breeze.
- Data is maintained in one database, thereby eliminating synchronization headaches.
- Contribution calendars minimize administrative work by allowing you to define an entire year’s payroll at one time.
- Flexible contribution calendars eliminate individual pay period processing and accommodate fiscal and calendar years as well as multiple payroll frequencies.
- Full automation and documentation of terminations and family status changes
- Non-discrimination and Compliance Testing
- Plan renewal set up is a quick and efficient process.
Claim and Reimbursement Processing:
- Claim entry is a simple one screen procedure.
- Built-in claim processing safeguards ensure that all claims:
- are not duplicated
- do not exceed plan maximums or available balance
- are incurred during the selected plan year
- are submitted before the end of the grace period
- maintain transaction conformity with your plan parameters and IRS requirements
- Integrated check writing feature displays claim details and available plan balance information on the check stub.
- Partial claim payments for dependent care and other payroll funded plans are automatically calculated and future payments pended for the next reimbursement process.
- Automatically updates and maintains plan balance information as you make changes– never wonder about a participant’s Plan Balance! It will always be up-to-date and easy to access.
- Intuitive user interface allows for easy on screen viewing of participant and plan information down to individual transaction details.
- Effortless access to both current and unlimited historical information for all plan participants.
- Own and access your information 24 hours a day, 7 days a week.
Automatic Communications and Detailed Reporting:
- Automatic claim status emails to plan members reduce or eliminate calls from plan members without you needing to lift a finger!
- Embedded email capabilities allow you to send pre-defined or custom email communications to employees based on selected criteria or events.
- Powerful built-in ad hoc reporting engine allows instantaneous access to a variety of comprehensive standard reports.
- Smooth integration with Microsoft™ Excel and other third party reporting tools such as Crystal Reports© and R&R Report Writer™ allows complete flexibility in accessing and analyzing your data.