Want to spend less time on compliance and administration?

We can help.

We know you’re making important resource allocation decisions for 2012, so we want to be sure you know about PTC’s preferred COBRA and Flexible Spending Accounts solutions.

Expert COBRA Management Services

Federal COBRA rules are complex. Failure to comply can result in serious penalties and fines. Fortunately PTC Corporate Coverage Group members have access to our preferred COBRA management solution, administered by INNOVA BENEFIT Services. This offering not only ensures compliance with changing rules but also leaves more time, money and attention to focus on other important HR initiatives.

Favorable Pricing
PTC members can take advantage of our preferred pricing schedule, a combination of a monthly fee for base services and a menu of add-on fees for notification and election services as you use them. This approach ensures that you pay only for the services you need.

Federal COBRA (groups of 20 or more): Base Monthly Fees of $75.00

Pennsylvania Mini-COBRA (groups of 19 or less): Base Monthly Fees of $35.00

• The 2% premium add-on is retained by INNOVA
• Qualified Beneficiary (QB) notification and election packages are billed at $10 each
• Electing COBRA covered participants are billed at $10 per month

FSA: Adding Significant Value to Employee Benefits
Flexible Spending Accounts (FSAs) add significant value to an employee benefit package without adding significant costs. Our FSA program, managed by INNOVA BENEFIT Services, not only extends preferred monthly administration costs to PTC members, but also waives standard account set-up fees.

Since FSA plans only add value if they are used, INNOVA provides extensive pre-enrollment services – at no cost to PTC members – that promote employees’ understanding of the FSA program and boost participation. Pre-enrollment and program promotion services include a personalized estimate for each employee (based upon demographic data and statistics) that illustrates for them their probable qualifying expenses. The statement also estimates their payroll tax savings.  In addition, a toll free guidance call with one of our professionals allows employees to review and plan for their own circumstances.  This allows many to consider enrolling with greater confidence and understanding.  

Once employees understand the pre-tax benefits of the FSA program, we make it easy for them to use the FSA by offering all contemporary servicing capabilities, including debit cards, on-line enrollment and electronic claims submission.

These PTC-endorsed COBRA and FSA services can help your team spend more time
on strategic HR initiatives and less time on administration and compliance.
There’s still time to set up these preferred pricing and service programs for 2012.

Getting started is easy!

About INNOVA BENEFIT Services
INNOVA is the PTC-endorsed administrator for flex administration. INNOVA has provided COBRA and FSA services to clients for more than fifteen years. Their systems are rigorous and their staff is compliance-focused as well as highly service oriented. Located in Pittsburgh and San Jose, CA, INNOVA has served clients from 5,000 employees to 20 employees. www.innovaben.com

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