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Flexible Spending Accounts Are Going Online, Too
Introducing MyFSAOnline, a new tool that makes accessing Flexible Spending Accounts (FSAs) convenient and easy for participants and will encourage future participation.
BenefitPort Administrators (BPA) is always pursuing new solutions that help you make your Section 125 plans a benefit highly valued by your employees. Employee education and integration with health and welfare plans are among the key strategies that we put to work for our clients. Now, we are bringing you MyFSAOnline, a new tool that makes accessing Flexible Spending Accounts (FSAs) convenient and easy for plan participants and will encourage future participation in this benefit.
For clients who enjoy BPA Flexible Spending Account Administration services, MyFSAOnline will be offered to each of their employees. A secure log-in will provide online viewing of their Flexible Spending Account information.
In addition to telephone and e-mail access to customer service, having individual 24-hour online access will help your employees maintain much better control of their FSAs, alleviating some of the risk of under-utilization, sometimes a great disadvantage of Section 125 plans. Employees using this online service will be able to review up-to-date information about their accounts such as: recently submitted claims; anticipated reimbursements; and plan-year-to-date activity in their accounts.
BenefitPort Administrators is currently piloting the tool and is planning the general release of MyFSAOnline in late 2002.
If you are interested in finding out more about our online FSA tool, please contact your broker or BenefitPort Administrators at gbsa@ajg.com.
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