Kibble & Prentice can help you improve your productivity and boost employee participation in your benefits programs by reducing your administrative and regulatory responsibilities. We broker third-party administration services that are flexible and scalable, and a Section 125 plan offers significant tax-savings to you and your employees.
Kibble & Prentice helps you attract and retain employees by helping you structure and administer unique programs that provide highly sought-after employee benefits. Through our strategic partnerships, we provide cost-effective solutions to administrative duties that, though routine, are time-consuming and resource-heavy. In addition, we help educate your employees about these programs through personalized, frequent-contact communications, which increase their knowledge about company benefit programs.
A Section 125 flexible spending plan is designed to produce tax savings for your employees. This payroll deduction program is IRS-approved and allows employees to establish spending accounts for health and day care expenses on a tax-free basis. Qualified items include uncovered vision, medical and dental expenses, as well as over-the-counter drugs and medicine plans. We broker similar taxable programs to accommodate creative or alternative benefit programs such as tuition, continuing education, wellness, professional development needs and taxable reimbursement programs.
Kibble & Prentice, through strategic partnerships, provides solutions for all-inclusive Section 125 administration, including reimbursement and claims processing, access to a special representative for your employees, and web access to program information and individual account information. Other services include discrimination testing, recommendations on plan design and compliance, employee education and tax filing.
Kibble & Prentice's strategic partners can assist you with the myriad of administrative details surrounding your company’s COBRA responsibilities. Our partners are equipped to distribute required notifications to qualified beneficiaries and track premium payment on your behalf. Lists of employees, terminations, rate changes, and due dates can add up to a lot of paperwork. We will help you reduce your company’s COBRA liability by offering substitute individual policies to employees upon qualification for COBRA coverage.
For many companies, performing eligibility determinations and billing for insurance companies and third-party administrators can be a black hole that needlessly gobbles up both time and money. Consolidated billing helps you save money in two ways. First, the services we have available allow your HR staff to focus on more productive duties, saving numerous hours per week. Second, the accuracy in determining enrollment eligibility reduces costly errors that are often made in paying premiums for your employees and their dependents.
Reconciling insurance bills consumes valuable time. Our administrative partners compile all data and provide one simple bill: they outline the premiums due to each carrier, and provide a complete census of enrolled employees for your review every month.