Clarity Benefit Solutions

How does an HSA work?

• HSAs are triple tax-advantaged. That means contributions are tax deductible, the interest they earn is tax-free, and they offer tax-free withdrawals for qualified medical expenses. HSAs are also flexible—they’re employee-owned, so they can be taken from job to job and the savings rolls over from year to year.

Why a Clarity HSA?

• Our HSA is different because it’s built for the unpredictability that can come with high-deductible health plans. The Clarity HSA offers an on-demand, interest-free payroll advances to cover unexpected healthcare costs, so employees aren’t just covered—they’re confident they can keep expenses under control.

How does Accelerated HSA Funding work?

• The employee has a high-deductible health plan and decides to participate in “built in protection”. The employer decides how they want to use the “Built in protection” (advance amount, eligibility, and terms of repayment) and we automate the entire process.
• If the employee has a medical expense, but not enough money in their HSA to cover it all they have to do is swipe their Clarity Debit Card initiating a payroll advance.
• Our HSA administration platform creates an interest-free payroll advance funded by clients’ company. Then it creates an employee paycheck deduction in their payroll system, which makes payback a breeze.
• The advance is paid back through small payroll deductions that are manageable the employee.

Technology that empowers and Service teams that care

• Employees can view and compare multiple plans in one place, then select and enroll in the benefits that best suit their needs right from their home.
• When people need help, our team of knowledgeable benefits and health insurance professionals are ever ready to provide expert customer service, industry insights, and best practices. We help keep your employee benefits administration process running smoothly.

Offer the right benefit plans

• Provide employees with a complete benefits package allowing them to stay healthy, engaged, and informed by enrolling online.
• Manage complex eligibility rules, costing calculations, and benefit compliance with straightforward tools and dashboards.
• Connect seamlessly with insurance carriers, payroll company, and other third-party vendors.

ACA compliance

• Offload the burden and stress of managing ACA Compliance with our automated solutions.
• Manage complex hours tracking and eligibility rules
• Populate, prepare, and file the mandatory 1094 and 1095 reports
• Calculate affordability based on IRS safe harbor rules
• Reduce costs and paperwork. Increase compliance.
• Eliminates hours of tedious paperwork
• Integrates data and systems to reduce costs and wasted time
• Offers better, more affordable benefits to employers and their workforce

How does an HRA work?

• A Health Reimbursement Arrangement is an employer-paid health reimbursement plan. Any employer can decide to offer it to their employees. Employees pay directly for various expenses instead of through increased premiums from an insurance company. HRA Plan funds used by employees are tax deductible to the employer and employee. Funds can be rolled over to the new plan year or forfeited.

Why a Clarity HRA?

• Clarity will work closely with you to determine the plan design that works best for your clients and their employees. Then throughout the plan year we provide online tools to monitor the effectiveness of the program.

Here are some common HRA plan designs:

• First Dollar Coverage HRA: The HRA covers first dollar healthcare deductible until the HRA is exhausted.
• HRA With Employee Deductible: The company sets an out of pocket limit that the employee will incur before the HRA starts to pay for expenses. Once the employees out of pocket limit is met the HRA will cover future deductible expenses with no need for you to pay out-of-pocket until your HRA is exhausted.
• Percent-Based HRA: The HRA has been designed to reimburse employees for a percentage of healthcare expenses. Until the HRA has been exhausted.

How does an FSA work?

• At the beginning of a plan year, the employee chooses the amount they would like to contribute each year to cover out-of-pocket healthcare expenses. These include copays, prescriptions, vision, and dental expenses that not are covered by insurance. Contributions are automatically taken out from each paycheck before tax, saving the participant hundreds of dollars a year on average.

Why a Clarity FSA?

• With Clarity FSA Administration, contributions are pre-tax for employees and their employers. Employers save 7.65% on every dollar contributed due to Social Security savings. Employees save between 20 and 40% on their elections. To access their FSA, employees simply swipe their Clarity Card at the point of payment. They also have the option of submitting claims via our mobile app, submitting a web claim, or automating it entirely with Clarity Benefit Connect.

We give employers two ways to help employees stretch their leftover FSA dollars. Both options are approved by the IRS.

• Rollover: Employees can roll over up to $500 from year to year. Rolled-over money can be spent at any point during the following plan year.
• Grace Period: Employees can carry all of their unused funds into the next plan year. They have 75 days to spend that money before it is credited to their employer.

How does an LPFSA work?

• A limited-purpose FSA is a flexible spending account that allows employees to set aside pre-tax dollars for dental and vision expenses for them and their dependents, even if they are not covered under the primary health plan. Employees are eligible to open a limited-purpose FSA if they are enrolled in a health savings account (HSA). At the beginning of the plan year, the account is pre-funded, and the full contribution is immediately available for use. The election amount is then deducted from the employees paychecks in equal installments throughout the year.

Why a Clarity LPFSA?

• With Clarity FSA Administration, contributions are pre-tax for employees and their employers. Employers save 7.65% on every dollar contributed due to Social Security savings. Employees save between 20 and 40% on their elections. On average, participants enjoy an additional 30% tax savings on their annual contribution, saving them up to $800 a year on dental and vision expenses. To access their LPFSA, employees simply swipe their Clarity Card at the point of payment. They also have the option of submitting claims via our mobile app, submitting a web claim, or automating it entirely with Clarity Benefit Connect.

We give employers two ways to help employees stretch their leftover FSA dollars. Both options are approved by the IRS.

• Rollover: Employees can roll over up to $500 from year to year. Rolled-over money can be spent at any point during the following plan year.
• Grace Period: Employees can carry all of their unused funds into the next plan year. They have 75 days to spend that money before it is credited to their employer.

How does dependent care work?

• Employees estimate their annual care expenses and make a one-time election of the amount they would like to contribute for the year. The maximum contribution in 2020 is $5,000. Annual contributions are divided up and automatically taken out from each paycheck before tax. Employees swipe their Clarity Card to pay for eligible services. They can also submit claims via our mobile app, submit a web claim, or pay themselves back for expenses over the course of the year. Dependent Care is a pay-to-balance benefit. This means employees can access all the money that they have contributed so far in the plan year.

Why Clarity dependent care?

• Reduce time and cost burdens for HR.
• DCA administration has never been easier. We connect to the payroll provider and benefits administration platform so things like enrollments, terminations, and deposits are automatically updated. Employees can save an average of 30% on dependent care expenses and employers enjoy up to 7.65% FICA tax savings .

How does SmartRide work?

• An employee elects a monthly contribution for transit and a separate contribution for parking up to the IRS limit. Clarity will update the payroll provider and the funds are automatically be deducted from the employees check on a pre-tax basis saving the employee on average 30% in taxes. Employees can start, stop or change their elections on a monthly basis. Unused funds carry over from month-to-month.
  
  Upon enrollment a Clarity Card is mailed to the employee’s home. The card is programed to work anywhere you pay for mass transit, parking or ride share programs.

Why Clarity SmartRide?

• Clarity SmartRide gives employees money-saving options in hundreds of cities, allowing them to reduce their outlay for public transportation, parking, and even popular rideshare platforms like UberPool and Lyft Line. We also added Commute Wise, a calculator to help you find your best commute based on time, location, traffic, capacity and so much more.
  
  SmartRide also saves employers money. When employees pay for their commute with tax free dollars the company can reduce their payroll taxes by as much as 7.65% on every dollar contributed to the plan.

How does Wage Parity work?

• As of 2012, employers in New York City and surrounding areas must pay home care workers a living wage. The amount changes by county. Clarity Benefit Solutions makes it easy and affordable for companies to comply with the Home Care Worker Wage Parity Act.
  
  According to the Home Care Worker Wage Parity Act, affected employers must pay a minimum base pay of $10.00 per hour to their employees. An additional amount of $3.00 - $4.09 per hour must also be paid either in wages, employer benefits, or a combination of the two.

Why Clarity Wage Parity?

• Clarity Benefit Solutions allows for employer benefits to be automatically calculated and distributed via pre-tax consumer benefits. Employees get easy access to their money, and employers save time and money through our automated process.

Why Clarity COBRA?

• Maximize efficiency, minimize liability: COBRA requirements are much more complicated than many employers realize. Violations cause costly penalties and liabilities. ERISA regulations also now allow for personal liability to be imposed on the employer for COBRA violations. Our web-based solution integrates with most payroll and benefit administration platforms, automating required notifications and minimizing the risk of penalties.

Here are some of the benefits of choosing Clarity as your COBRA partner:

• Best-in-class client service
• Reduce Administration Costs
• Reduce HR Burdens
• Minimize COBRA non-compliance liability
• Access superior web-based technologies

What’s Included?

• Ongoing COBRA administration
• Send qualifying event notifications via first-class mail with proof-of-mailing
• Process COBRA elections once completed by client or qualified beneficiary
• Validate all COBRA elections
• Validate of participant eligibility
• Validate and process disability extensions
• Bill and collect premiums monthly
• Handle undeliverable mail
• Provide collections for returned checks
• Send termination and conversion letters
• Process participant life status events
• Avoid penalties and liabilities
• Stay up-to-date with rules and regulations
• Avoid personal liability for COBRA violations

What is Clarity Benefit Connect?

• Clarity Benefit Connect automates the employee claim filing and card substantiation experience by linking insurance carriers directly to Clarity. Integration now makes it possible for employees to share their insurance claims history with designated third parties. This significantly reduces or even eliminates the need for consumers to file claim and card substantiation paperwork. The Clarity Benefit Connect connection takes only a few minutes for an employee to set up and is available for both HRAs and FSAs.

HOW DOES CLARITY BENEFIT CONNECT WORK?

• Each Clarity consumer has the option to link our website with their insurance carrier portal via web authorization. Once linked, Clarity Benefit Connect automatically retrieves any new insurance transactions (also known as Explanations of Benefits or EOB’s) issued by the insurance carrier. Clarity then creates a claim and pays it or substantiates Clarity Benefit Card purchases. It is a truly paperless process.

Why Clarity benefit connect?

• Link FSAs and HRAs to insurance carrier(s)
• Automatically reimburse employees for eligible claims
• Automatically substantiate card swipes
• Eliminate the need to send in receipts
• Avoid card deactivation from substantiation concerns
• Save consumers time
• Increase satisfaction in consumer benefit plans
• Increases participation in FSA plans

HOW DOES ERISA WORK?

• ERISA covers retirement plans and welfare benefit plans. ERISA protects retirement savings from mismanagement and abuse, and ensures they act in the best interests of plan participants. It also requires transparency and accountability, ensuring that participants have access to information about their plans at any given time.

Why a Clarity ERISA?

• Clarity is here to do the heavy lifting for you, helping to minimize risk with expert support, innovative software, and a 24/7 compliance portal. Our support and technology can help you avoid costly penalties, which might range from $110 to more than $2,194 for every day a single plan is in violation.
  
  Clarity Erisa preserves your peace of mind.
  
  Documents done right: We automate the creation of your wrap plan document and summary plan description (SPD) so you have a single, up-to-date source document for all benefit plans subject to ERISA.
  
  A platform for success: Our innovative platform ensures ongoing compliance, provides real time access for updates and audits, and keeps your employees informed.< br/>
  Help when you need it: Your expert Client Relationship Manager will provide dedicated, ongoing support to help you navigate ERISA, make changes to your documents, and answer questions from auditors.

Clarity can help with all phases of ERISA compliance

• ERISA wrap plan document
• Ongoing ERISA administration
• Summary plan description explaining key terms and conditions to all participants
• Tax Form 5500 preparation for groups with 100+ employees
• Self-service online portal with 24/7 access to documentation
• Software automation of wrap documents
• Written plan document for each benefit plan offered
• Annual plan document updates for changes and new plans
• Automated reporting and employer notifications
• Audit support