Reimbursement Account Processing

You sponsor Reimbursement Accounts as a valuable tool to help your employees cover their medical, dental, vision or dependent care expenses. You educate them on the advantages of paying with pretax dollars. And now, you want a simple, confidential way for them to submit claims and receive reimbursement.

Great Lakes Strategies provides your employees with simple and convenient administration of your Reimbursement Accounts. Services that facilitate Reimbursement Account claims and payment include:

• Prepare and distribute participant materials, including participant handbooks, reimbursement instructions and Reimbursement Request Forms
  
  
• Provide participants with a Health Care Reimbursement Summary Plan Description, if appropriate
  
  
• Establish and maintain bank account information for employees electing payment via Direct Deposit
  
  
• Maintain Reimbursement Account activity for each participant, including information on payroll deposits, individual reimbursements and account balances
  
  
• Receive reimbursement requests and ensure that claims comply with IRS guidelines for reimbursement
  
  
• Validate that appropriate documentation is submitted with the reimbursement request
  
  
• Issue a reimbursement for the approved amount via laser-printed check or direct deposit to the participant's bank account
  
  
• Answer participant inquiries concerning eligible expenses, individual claims submitted for reimbursement, account balances and request for forms
  
  
• Provide employer reporting and participant communications including semi-annual participant account statements and participant courtesy letters reflecting year-end balances and deadlines.
  
  
• Provide employer with status change and compliance guidance
  
  
• Work with employer in tracking new hires and terminations
  
  
• Provide 5500-Schedule F, tax-reporting services.