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271. Adding & Removing Plan Contacts (Reimbursement Accounts)

     Created On: 05/03/2018 in Reimbursement Accounts Communicating with Sentinel
     Add and remove plan contacts by completing the form linked below. This will authorize Sentinel to assist members of your team with plan questions and changes. It also authorizes online access to the Employer Portal. Upon receipt of the form Sentinel...

272. FSA/HSA Contribution File Data Import

     Created On: 05/03/2018 in Reimbursement Accounts Online Tools
     Clients using our Employer Portal to import contribution files must use one of the following templates to compile their payroll data for upload to Sentinel each pay period. File Templates The Standard Contribution File should be used for plan...

273. PCORI Fees

     Created On: 05/03/2018 in Reimbursement Accounts Plan Compliance
     An annual fee called the Patient Centered Outcome Research Institute (PCORI) Fee applies to most HRA plans. This fee is filed and paid for via IRS Form 720 and is due each year by July 31. Health insurers are responsible for paying the PCORI fee for...

274. 5500 Requirements for Reimbursement Accounts

     Created On: 05/03/2018 in Reimbursement Accounts Plan Compliance
     There is currently no annual filing requirement for Section 125 Plans. However, the underlying benefits may be required to file a Form 5500 if they are considered a Health & Welfare Plan. Group Health Insurance Coverage and Health FSAs are two examp...

275. Nondiscrimination Testing - Section 125

     Created On: 05/03/2018 in Reimbursement Accounts Plan Compliance
     What is Section 125 Nondiscrimination Testing?  Your plan allows employees to pay for their health care and dependent care expenses on a pre‐tax basis. This saves both the employer and the employee money on Income taxes and Social Security taxes....

276. ERISA Compliance - Medical FSA

     Created On: 05/03/2018 in Reimbursement Accounts Plan Compliance
     Summary Plan Description (SPD) must be furnished to participants within 120 days after plan is adopted. New employees must receive a SPD within 90 days after becoming participants. If plan is amended, an updated copy of SPD must be given to plan ...

277. Annual FSA Plan Reconciliation & Forfeitures

     Created On: 05/03/2018 in Reimbursement Accounts Plan Compliance
     Medical FSA has an experience gain with respect to a year of coverage if total premiums paid is greater than total claims reimbursements and reasonable administrative costs for year.  Employers have four alternatives that comply with IRS rules rel...

278. FSA Contribution Processing Methods

     Created On: 05/03/2018 in Reimbursement Accounts Communicating with Sentinel
     Sentinel will process contributions in relation to the employee’s pay schedule with the employer. To properly administer the allocation of contributions, it is critical that there is clear and timely communication between the Plan Sponsor and Sentin...

279. Leave of Absence - FSA Guidelines

     Created On: 05/03/2018 in Reimbursement Accounts Flexible Spending Accounts (FSA)
     Treatment of FSA accounts during leave of absence.

280. Plan Info & Forms (Reimbursement Accounts)

     Created On: 05/03/2018 in Reimbursement Accounts Online Tools
     Accessing Plan Information Select Tools from the menu on the left. In the Plans section you will find options to view the same info as the employees for all active and inactive plans. Information available is:  Plan Summaries Plan Details and ...

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