Flexible Spending Plan—Best flex

From WEA Trust Insurance Coordinators Handbook

BEST flex features a premium conversion plan and flexible spending accounts. This allows employers to provide cash in lieu of benefits without adverse tax consequences and employees to set aside funds from their paychecks for a specific purpose before taxes are taken out. Employees can use these funds to pay their portion of insurance premiums, to set aside money for their dependents’ day care expenses, or to build an account for unreimbursed health care expenses. BEST flex enables employers to provide a valuable new benefit while at the same time reduce overall payroll tax expenditures.

We offer this plan through Employee Benefits Corporation (EBC) of Madison—one of the most experienced and efficient administrators of cafeteria plans. Your field representative will assist you in installing the plan. EBC will administer your Best flex plan and will work with you in the exchange of data and record keeping.

Claims Administration Process

Enrolling in BEST flex

Employees must complete the Enrollment Form and return it to the school district.

Filing a Claim

Plan participants should submit claims directly to the plan administrator (EBC). All participants are required to complete a Reimbursement Form and submit documentation that supports the expense for each claim.

Processing Claims/ Reimbursement Checks

The plan administrator processes the claims received and notifies the employer of the funds needed to cover the claims. After the employer transfers funds to the plan administrator, reimbursement checks are mailed directly to the claimant’s home. The processing of claims is confidential. Only the claimant and the plan administrator know the nature of the claims submitted for reimbursement.

Reports/Records

After claims are paid, a statement is prepared showing the current activity and year-to-date activity in each participant’s account.

You will have access to a summary of all financial activity in all participant accounts via secure Web access. This summary includes deposits, claims approved, claims paid, claims suspended, ending balances, and a check register listing.

The plan administrator notifies the employer of funds needed after the processing period. Amounts withheld from payroll are retained by the employer until the end of each processing period. You will be notified by telephone or fax of the amount of money needed to cover the reimbursement checks.