FREQUENTLY ASKED QUESTIONS

 

Flexible Spending Accounts (FSA/POP) Section 125

 

1. What is covered?

2. Can I make a change in my election amount?
Yes, if you have a qualifying event, i.e. death, birth, marriage, divorce or if it is during open enrollment for the plan, you can make a change to your election amount.

3. Is there a minimum amount in order to submit claims?
No, but please consider submitting claims of $25 or more.

4. Are my pets covered as eligible dependants?
No, (exception - seeing eye dog for the blind).

5. How long do I have to submit a claim?
You have up to 90 days after the end of your plan year or termination of employment to submit claims you incurred during the plan year.

6. My Visa card doesn't work, why?
There are various reasons why this may happen. The most common are: 1. You didn't have enough money in your account to cover the claim, 2. You were not at an eligible point of service, i.e. pharmacy versus Sears, 3. Your employer's funds are low in the account, 4. The claims exceeded the dollar amount limit for that particular point of sale.

7. How do I check my account balance?
You can call HR Concepts @ 603-647-1147 and ask your administrator or log on line from this website and check your own balances.

8. How do I get my money out of my account?
You can use your Visa card that we issued to you or submit a paper claim via fax, mail, or dropping if off.

9. Does my daycare provider have to be licensed?
No, but you are required to submit a claim form with their tax ID number or Social Security number.

10. How does a company fund their FSA?
The employer funding for an FSA is very simple. HR Concepts does not require payroll reports or regular payroll deposits of the employee’s elections. HRC works on a 2 month funding balance system. After all the elections have been made, we simple add up all the annual elections, divide by 6 and bill you for the initial deposit. (We require a minimum billing for funding of $2,000) Each month we will send you a report outlining all the claims that have been paid. We subtract these claims from the funding in your account and invoice you to bring your account balance back up to the original funding amount. These invoices are due upon receipt. Failure to pay on time could result in your account being temporarily turned off.

Healthcare Reimbursement Arrangements (HRA)

 

1. How do I get my deductible or co-insurance paid for by my employer?
You need to submit a HRA/PSF claim form to HR Concepts, along with a copy of your Explanation of Benefits (EOB) Statement you will receive from the insurance company.

2. How long does it take to get my money back?
You have two options: 1. You can direct HR Concepts to put the money onto the Visa card that we provided you with or 2. Direct HR Concepts to send you a reimbursement check. Claims are paid daily.

3. How do I pay my provider?
Either with the Visa card we provided to you, or by cashing the reimbursement check that we sent to you and paying the provider direct.

4. How does a company fund their HRA?
The employer funding for an HRA is very simple. HRC works on a 2 month funding balance system of 40% of the total dollars at risk. After all the elections have been made, we simple add up all the total exposed money the employer is responsible for, multiply by 40%, and divide by 6.  (We require a minimum billing for funding of $2,000) Each month we will send you a report outlining all the claims that have been paid. We subtract these claims from the funding in your account and invoice you to bring your account balance back up to the original funding amount. These invoices are due upon receipt. Failure to pay on time could result in your account being temporarily turned off.

Parking & Transit Accounts (PRA/TRA) Section 132

 

Healthcare Savings Accounts (HSA)

 

COBRA Administration

 

1. How long do I have to elect Cobra?
A qualified eligible participant has up to 60 days from the date of notification to elect Cobra.

2. When are my premiums due?
Premiums are due the 15th of the month prior to the month of coverage that you are paying for.

3. Why isn't my health insurance card working?
Health & Dental insurance companies sometimes take up to 30-60 days to reinstate coverage. All of your expenses during this time will be covered and reimbursed.

 

Dental Reimbursement

 

1. How do I get reimbursed for my dental expenses?
After your dentist appointment, you will need to fill out a claim form and fax, mail, or drop it off to HR Concepts along with the receipt indicating the cost for the service rendered and what procedure was done. Your claim will be processed upon receipt and depending on how you authorize HR Concepts to pay it, you will either receive a check back or we will authorize your Visa card for the amount of the claim.

2. What expenses are covered?
This will depend on your plan design. Please refer to your summary plan description.

3. Why didn't my Visa card work?
There are several reasons as to why your Visa card would not work. The most common ones are: 1. Your dentist is trying to charge more from your account than you are authorized for, 2. Your employer requires a receipt of the covered expense before money is authorized on the Visa card, and 3. Your employer's group balance is low.

4. Do I have to go to a specific dentist or use a certain network?
No, you can go to any dentist you choose.

5. How long do I have to submit a claim?
You have up to 90 days after the end of your plan year to submit a claim incurred during that plan year.

General Questions

 

1. How does HR Concepts bill us?

HRC bills all our clients on a monthly basis for the funding of their account and quarterly for our corporate invoices for your administration fees. The funding invoices are due upon receipt and the administration invoices are net 15 days.

 

2. Is there an added fee for the Visa card?

HRC does not charge a fee to employers or employee for having the Debit Card attached to their FSA, HRA, HSA, Dental Account, Parking & Transit Accounts, or Wellness Programs.

 

3. How do I term or add employees?

There are several methods you can use to add or terminate a participant to your plans. You may Mail, fax, or email us the (EE) Change of Status Form. You can also request the change by emailing your client manager or through our website. To do it from our website, you will need to log into your account through our website and submit the request by clicking on the request tab and filling in the information.

 

4. How do I send my company’s annual enrollment of the participants’ data?

In order to speed up the process of getting your enrollments into our system upon the anniversary of the plan or for new plans, employers are to submit the participant data via an Excel spreadsheet. This will enable us to import the data and insure the accuracy of the data. After the initial enrollment is completed, new enrollments can be  submitted via email, mailing, faxing, or online.

 

5. Do I need new plan documents each year?

No, your documents automatically renew each year. A new document is needed only if your plan design or maximums change.

 

6. Will employees get a new Visa card each year?

No, employees’ cards will automatically be sent to their address on file approximately 30 days before the card expires. The Visa cards are good for three years.

 

7. How long does it take to get a plan set up?

Depending on the type of plan, FSA/HRA/HSA/DR or Transit Account, we can have you up and running within 30 days. COBRA accounts can be set up with a week.

 

8. Are you a national Third Party Administrator and/or can you handle employers outside of New England?

HR Concepts is a national company located in Manchester, NH. We service employers all around the United States.

 

9. Do we have to wait until the plan year renewal before we change over to HR Concepts or can we do it mid-plan year?

HR Concepts can help you transition your account to us at anytime. Many companies come over to us mid-year. We will consult with you to determine the best transition period for you and your employees.

 

10. How can I get a quote for the services I am interested in?

You can send a request from this website under the Contact HRC page, you email or call us, or simply download a quote for the services you are interested in from our Forms page.

 

11. Is HR Concepts a full service administrator?

Yes, HR Concepts is a full service Third Party Administrator that handle everything from the documents, enrollment/education sessions, testing, claims, customer service, and plan design/consulting.

 

12. How does a broker/partner get paid commissions for their groups?

Once you have signed our broker/partner compensation agreement you will start receiving commissions based on the level you attain and via the disbursement method you chose. Commissions are paid out 4 times a year. The reports are set to be completed around February 15, May 15, August 15, and November 15. The period they cover will be for the previous calendar quarter.