Flyte HCM is so much more than just “Flex” Plans!

We are in the business of Human Capital Management with a full suite of offerings to make life easier for employers of all sizes.

CONSUMER-DRIVEN HEALTHCARE

Health Savings Accounts (HSA)

A Health Savings Account (HSA) is a great way to help employees plan for their future. An HSA allows participating employees to contribute tax-advantaged funds for qualified medical expenses.
Employers may also choose to contribute to the HSA. This benefit gives employees the ability to accumulate money that will continue to grow, save money on taxes, and earn interest over time. An HSA may only be opened when a participant is enrolled in a qualified high deductible health plan (QHDHP). As a result of enrolling in a QHDHP, the monthly premiums could be lowered.

Health Reimbursement Arrangements (HRA)

A Section 105 Healthcare plan is an excellent way to help manage the rising costs of insurance while maintaining employee benefits. By integrating a self-funded 105 Medical Reimbursement Plan with a major medical health insurance plan, an employer can pay for a multitude of healthcare expenses, helping to reduce insurance premium costs.

EMPLOYEE PRETAX PLANS

Flexible Spending Arrangements (FSA)

An FSA is an account that allows employees to set aside a part of their wage on a pretax basis to pay for specifically allowed qualified medical, dental and vision expenses not covered by insurance. Examples are office visits, prescription copays, dental expenses, prescription eyeglasses, contacts, etc.
Expenses that are eligible under the Dependent Care program are the fees incurred while having dependents cared for so the plan participant and their spouse can be at work or school. This includes day care, before and after school care, nursery school, preschool and summer day camp.

Transportation Benefit Programs

A qualified transportation expense is a mass transit expense that an employee incurs in connection with traveling between the employees’ residence and the primary place of employment. In order to qualify for tax savings, transportation passes are required to follow specific guidelines set by the IRS, including monthly expense maximums.
A qualified parking expense is an expense that an employee incurs while parking at or near the primary business location or at the mass transit location. In order to qualify for tax savings, parking expenses are required to follow specific guidelines set by the IRS, including monthly expense maximums.

Premium Only Plans (POP)

The Premium Only Plan is a benefit that allows employees to pay for their insurance premiums or contribute into their Health Savings Account using pretax dollars. Employees can withhold the funds from their paychecks on a pretax basis. It will reduce the amount of income tax they pay, while also reducing the amount of payroll taxes for the employer. This makes it a great cost-saving option for the employee and the employer alike.

ADMINISTRATIVE SERVICES

COBRA and State Benefit Continuation Services

COBRA Administration helps employers manage the rotation of employees and their right to continue their group health coverage, in compliance with federal and state COBRA laws. Employers with over 20 employees are required to give their employees the option to continue their group health benefits after they lose coverage through a qualified event.

Payroll

Payroll processing solutions include a range of features that are tailored to your companies’ specific payroll needs. These features include prompt and accurate payroll processing, online tools to access reports and run payroll anytime, tax filing and depositing, HR support center, and much more.

Timekeeping

The Time and Attendance solutions dramatically improve productivity, accuracy and reliability of your payroll process. You no longer have to gather time sheets, compute total hours and re-key into your payroll system thanks to advanced technology that allows your employees to use an electronic time clock or a secure web clock to clock in and out. The result is a simple way to track hours while providing an accurate account of total time worked.

Minimum Essential Coverage (MEC)

Minimum Essential Coverage (MEC) is defined by the Affordable Care Act (ACA) as the minimum coverage an employer must have in place in order to satisfy the first portion of the Employer Shared Responsibility requirement. If you are required to offer a group health plan, having this plan in place may shield your company from major fees and fines. Check out our MEC product page here.