SPMI offers a comprehensive, single-source solution for outsourced benefits administration. SPMI provides employers with simplified benefits management that fits the specific needs of their organization — regardless of company size.
When a full benefit administration client is brought on board SPMI’s Benefits department will create a customized benefit enrollment guide for that client with their insurance products to help them provide a better enrollment tool to newly eligible employees
SPMI provides enrollment management for qualifying events and new hires through obtaining enrollment forms from employee/client, enroll employee with each carrier, distribute insurance cards and summary plan documents.
Benefits Administration Options:
- Health and Welfare solutions and administration
- Health Savings Accounts (HSA) administration
- COBRA administration services
- Retirement services
- Carrier enrollment services
- Employee communication services
- Total compensation services
Advantages to Employing SPMI's Benefits Administration:
- SPMI can create and administer your company's Cafeteria Plan Document and IRS guidelines compliance
- Annual Medicare D notifications and CMS reporting
- A single point of contact to simplify benefits administration
- Dedicated account teams and support staff to provide benefits administration assistance
- Integration with SPMI HR/Payroll services to reduce duplicate data entry and to facilitate communication
- A highly experienced staff to answer any benefits compliance questions.
- Assists you in obtaining quote information from insurance agents.
Benefits Support
Monthly Insurance Premium Reconciliation and payment
Monthly Reconciliation of insurance bills, payment remittance to insurance carriers, calculation and setup of missed premiums and/or refunds needed.
Determining and enforcing Qualified Medical Child Support Orders
An employer is responsible with determining if a court order is valid or invalid and then notifying all interested parties. Once the determination has been made, SPMI will follow through the process of enforcing the court order and providing the court with all proper documentation within the required time frame allowed by the court.
Assist in Annual Plan Renewals
For all clients who elect to have the same cafeteria plan year as SPMI, all employees are notified of SPMI's annual renewal for SPMI products. For others, SPMI can assist clients during renewal of their own products by helping them work with insurance agents for quotes, assisting in enrollment meetings, and handling administration of paperwork received from the employees to ensure all employees are processed properly.
Medicare and IRS data match project research and response
Employers are required to assist Medicare and the IRS by identifying Medicare eligible employees or past employees who were enrolled in their health plans. SPMI will research the information needed and will report the information to Medicare on all of the employees.
Termination Reporting
SPMI will notify all carriers once an employee has been terminated to end coverage and ensure proper credit are given on invoices.
Life Insurance Conversion/Portability Right Notification
SPMI will notify employees of their Life insurance/portability rights upon termination of employment. An employer is required by law to notify an employee who terminated employment and who had group life insurance of their portability/conversion rights.
State Continuation and COBRA Compliance
SPMI's administration consist of sending initial rights notification upon enrollment with coverage, sending election notices at time of qualifying event, processing federal premium subsidy approval or denial, processing Federal payroll tax credit, activating coverage with carrier and payment tracking and sending termination letters.
Benefits Compliance Research
SPMI will assist you with any benefits compliance questions. SPMI can also assists you in obtaining quote information from insurance agents.
