Benefit Resource
Simplifying the complexity of benefits for maximum savings and peace of mind.
Category:
Provide Benefits
Benefit Resource

Benefit Resource

Simplifying the complexity of benefits for maximum savings and peace of mind.
Category:
Provide Benefits
Contents

Commuter Benefit Plan

Commuter Benefits allow employees to pay for certain workplace commuting expenses, including mass transit and parking, on a tax-free basis through payroll deductions, saving up to 30% on commuting purchases. The Beniversal Card ensures funds can be conveniently accessed at qualified mass transit and parking merchants accepting Debit Mastercard.

Mass Transit and Parking

  • Employees can save on their way to and from work by paying for mass transit and parking expenses with a commuter benefit plan. The separate accounts – one for Mass Transit and one for Parking – meet the needs of your commuting employees, regardless of how they choose to get to work.

Simplified administration from BRI offers:

  • Convenient access to mass transit and parking funds from a single card
  • Flexible funding arrangements
  • Service-oriented staff with local support for major metropolitan areas
  • Convenient tools for managing accounts, including BRiWeb, BRiMobile, and BRiAlerts
Commuter Benefit Plan

Flexible Spending Account

A Flexible Spending Account (FSA) can save employees up to 40% on expenses they already pay for. Depending on the type of FSA, employees can pay for certain medical expenses and/or dependent care expenses tax-free, through payroll deductions. They get instant access to funds through the Beniversal Card, reducing reimbursement wait time.

Medical FSA

  • A Medical FSA allows employees to pay for qualified out-of-pocket medical, dental, and vision costs. These may include co-payments, office visits, prescription drugs, dental care and orthodontia, vision care, and over-the-counter drugs and medicines.

Dependent Care FSA

  • A Dependent Care FSA allows employees to pay for eligible child or adult dependent care expenses such as daycare, before and after-school care, pre-school, day camps, and custodial care for a mentally or physically disabled adult dependent.

Simplified administration from BRI offers:

  • Comprehensive employer support for enrollments, education and program design
  • Convenient tools for managing accounts, including BRiWeb, BRiMobile, and BRiAlerts
  • Alternate plan design options, including Rolling Medical FSAs and Limited Medical FSAs
  • Easy access to Medical FSA funds from the Beniversal Card
Flexible Spending Account

Health Savings Account

Do you offer a High-Deductible Health Plan? Health Savings Accounts (HSAs) allow individuals who are covered by an HSA-compatible health plan, including HDHPs, to save money to pay for eligible medical expenses on a tax-free basis.

These accounts offer a triple tax benefit

  • Employees own the funds
  • Funds automatically carry over each year
  • Funds earn interest or can be invested and remain tax-free

Integrated Custodial Services

  • We have integrated partnerships with industry-leading HSA custodians. Information is seamlessly exchanged with the HSA custodian to provide you with a best-in-class HSA experience.

Simplified administration from BRI offers:

  • Seamless implementation, with recommendations for transition strategies and plan changes to maximize HSA compatibility
  • Flexible funding alternatives with file upload and direct deposit options
  • Convenient tools for managing accounts, including BRiWeb, BRiMobile, and BRiAlerts
  • Easy access for participants to funds from all their benefit accounts on a single card
  • Opportunities for participants to invest in a best in class mutual fund
Health Savings Account

Health Reimbursement Account

A Health Reimbursement Account (HRA) is an employer-funded account designed to assist employees in paying for certain out-of-pocket medical expenses. With the passage of Health Care Reform, HRAs must generally be provided in conjunction with a major medical plan and are often offered in conjunction with high-deductible, low premium health insurance plans for a total savings in health care costs.

Be confident in your HRA plan design

  • HRAs provide variety that can complement your total healthcare benefits strategy, including compatibility with other pre-tax benefits, maximizing savings for employers and employees. We guide you through choosing the best option for optimized cost containment and employee savings, including the different types of HRAs that can be supported.

Simplified administration from BRI offers:

  • Easy health care payments with HRA funds
  • Streamlined online and mobile administration options through BRiWeb and BRiMobile
  • A comprehensive, service-oriented solution
Health Reimbursement Account

HRA Voluntary Employee Benefits Account (VEBA)

An HRA VEBA lets employees use tax-free dollars held in a Trust to manage healthcare costs for themselves and their dependents. Like an HSA, this type of account receives a triple-tax advantage: employer contributions into the account are tax-free, funds grow tax-free, and remain tax-free when used for eligible medical expenses!

Diverse Plan Design Options

  • An HRA VEBA from is the perfect solution for public entities interested in protecting employees from rising health care costs. Plans can be designed to meet certain needs, including post-retirement healthcare expenses, embedding VEBA with an HDHP, or holding health care funds as a Governmental Accounting Standards Board (GASB) 45 prefunding plan.

Integrated Custodial Services

  • BRI has an integrated partnership with BPAS, a national provider of VEBAs and qualified retirement plans. The integration allows for single-sign-on (SSO) capabilities between BRiWeb and the BPAS portal, as well as robust investment opportunities for participants through an open-architecture investment platform.

Simplified administration from BRI offers:

  • Plan design flexibility
  • Single multi-account platform integrated with FSA and transit (card access)
  • Ability to match funds to a retirement plan
  • Dedicated specialist there to answer questions and provide support
HRA Voluntary Employee Benefits Account (VEBA)

COBRA & Direct Billing Administration

COBRA coverage allows qualified beneficiaries the right to maintain group health benefits when coverage would otherwise be lost due to a qualifying event. However, navigating the complex IRS and DOL requirements can be daunting. We take the burden away and provide you with peace of mind through a compliant, no worry COBRA solution. We also offer Direct Billing Services for employers who need a solution outside of payroll deductions to collect premiums or other payments from employees.

Achieve legal and regulatory compliance

  • Notices to qualified beneficiaries
  • Document retention services
  • Consistent, accurate legal and regulatory compliance for all services
  • Premium collection, notices, and reports

Simplified administration from BRI offers:

  • COBRA enrollment and administration resources
  • Coverage information
  • Payment history
  • Billing detail
  • Reporting options
COBRA & Direct Billing Administration

Specialty Accounts

A Specialty Account, also known as a Lifestyle or Wellness Account, allows employers to assist employees in paying for specific expenses. These are typically taxable benefits so you can avoid the legal and regulatory constraints placed on pre-tax accounts.

Flexible program design

  • Select from a variety of predefined eligible expense categories or work with your assigned representative to design a program that best meets your needs. decide the rules regarding funding, eligibility, and maximum reimbursement amounts over a set period of time.

Common expense categories

  • Medical Reimbursements
  • Wellness Reimbursements – gym fees, equipment, online subscriptions
  • Tuition Reimbursements – courses, certifications, licensing
  • Specialty transportation expenses not eligible under a Commuter Benefit Plan – bike sharing, ride sharing, car pools

Reduced administrative burden

  • We can help adjudicate claims and approve purchase reimbursements, removing the hassle of handling a unique benefits program.

Simplified administration from BRI offers:

  • Program design
  • Enrollments
  • Education
Specialty Accounts

BRI Insights

BRI Insights is a decision support platform that enables a new, intuitive approach to participant health and wealth. This smart tool gives employees their own personal benefits assistant who guides them into enrolling in benefits that best meet their needs.

How it works

  • Through a coordinated communications program and customized guided assessment, employees are asked to complete simple questions regarding their household, expenses, and benefits goals. Employees then receive a personalized assessment and recommendations for health plans, contribution strategies and other benefit programs.

Key Features of BRI Insights:

  • Virtual guide that educates employees on the benefits of contributing to pre-tax accounts
  • Built into the BRI experience
  • Automated messages that encourage enrollment
  • Personalized Benefits Action Plan for each employee
BRI Insights