Adoption Reimbursement Account
The establishment of an spending account system for Adoption Reimbursement is permitted under Section 125 of the IRC and provides up to $5,000 annually in pre-tax funds to cover Adoption related expenses.
Employees who opt-in to an Adoption Reimbursement Spending Account option, must pre-determine their annual expense and ‘commit' to it. Dollars set aside are subject to the same ‘use-it-or-lose-it' rules as standard Healthcare FSAs. Because of the relative unpredictability of adoption expenses, we suggest you consult with a Benesyst representative and discuss your goals and circumstances to determine the advisability of offering this program.
Benesyst offers Adoption Reimbursement Account Administration in conjunction with our standard FSA services. Adoption Reimbursement Accounts are managed with the same best-in-class customer service and timely claims processing as all our Spending Account Services.
Benesyst Adoption Reimbursement Account Services feature:
- Fully- automated Online Claim System – prompts for common claim types and offers fully indexed list of eligible expenses
- Email notifications regarding account status
- The fastest claims turnaround time in the industry.
- Effective, customizable educational materials – including client specific content and branding.
- Participant and employer Internet access (24/7) to highly comprehensive support.
- Toll-free access to the knowledgeable and caring customer advocacy team
- Voice response system 24/7 (toll-free) with account information and InfoLine knowledge support
- Email confirmations and online claims tracking
- Quarterly statements and 30-day year-end warning statements
- Paperless statements, communications and forms
- Benesyst Mobile Access for mobile phones or Internet enabled devices