Sunday, July 22, 2018

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fully integrated systems

Simple and easy, processing payments couldn't get any better. With the ability to utilize ACH or the issuance of physical checks, the PEN-PAY 125 system can track both in the payment section of the system. Debit card capabilities are also available to round out all reimbursement options. Regardless of which format you select, PEN-PAY 125 can handle it all.

fully integrated systems

With the addition of the Participant and/or Plan Sponsor Web modules, you have enrollment and reporting capabilities that only a premier provider of employee benefits can offer.

You also receive individual enrollment binders for each eligible participant to include:

  • Plan Document
  • Summary Plan description
  • Enrollment Forms
  • Questions & Answers
  • PowerPoint slide presentation

fully integrated systems

Claims Plan Participant
  • Plan Summary
  • Employee Summary
  • Employee Detail
  • Approved Claims
  • Invalid Claims
  • Rejection Notice
  • Require Additional
  • Duplicate Claims
  • Claim History

  • Premium Payment Invoice
  • FSA Balance Summary
  • Savings to the Organization
  • Statement
  • Reenrollment Form
  • Forfeiture Notice
Payments Employee Benefit Census Data
  • Status
  • ACH, Pre Note File

Transactions, Adjustments

Eliminates paperwork pile-ups and reimbursement delays.

The debit card functionality is integrated with our 125 / Cafeteria system to automatically transfer pretax flex and health reimbursement dollars from spending accounts to the provider to pay for qualified expenses. And, there is an automated tracking and monitoring system to insure full compliance with IRS regulations.

Available via Visa-branded prepaid cards, the technology automatically debits the appropriate account, checks real-time balances and prevents inappropriate use. Allowing participants to pay their expenses (healthcare deductibles, dependent care costs, monthly transit passes, parking fares, etc.) at the point of service, rather than paying for the expenses out of pocket, submitting reimbursement forms and waiting for a check from their administrator.

fully integrated systems

Fully integrated with the PENSION and PAYROLL Administration system, PEN-PAY CAFETERIA shares all applicable data such as employer information, payroll frequencies, census and compensation data. Set up as a separate plan type, PEN-PAY provides tremendous flexibility to administer premium only, FSA, HRA, HSA and §132 benefits.

PEN-PAY 125 testing capabilities

Also inclusive are the traditional Nondiscrimination tests as well as the following specific tests for 125 plans:

  • Concentration test under section 125(b)(2)
  • Nondiscriminatory Classification test under 125(b)(1)(A)
  • Dependent Care 25% test under 129(d)(4)
  • Dependent Care 55% test under 129 (d)(8)