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Business - Employee Benefits

JRM Benefit Administrators, LLC

Third Party Benefit Administration 

JRM Benefit Administrators, LLC was established to meet the often overlooked benefit-administration needs of small and mid-sized employers.  Often with larger administrators, participants feel as if they are treated as a number and find it difficult to ask questions and get issues resolved.  Sometimes the participants feel as if the administrator is working to obstruct the paying of the benefits.  JRM Benefit Administrators, LLC structures its programs to be employer and participant-friendly and works hard to make sure participants understand the plans offered by their employer. 

We have a unique understanding of small business, cash flow and dealing with smaller employee groups.  Founded by a CPA firm, our unique and custom third-party benefit administration plan designs have helped employers save tens of thousands of dollars all while maintaining a reasonable benefit package for employees.  

Flexible Spending Accounts (FSA)

Internal Revenue Code Section 125 allows employers to establish written plans that allow employees to pay for certain expenses and services with pre-tax dollars.  Health Care Flexible Spending Accounts and Dependent Day Care Flexible Spending Accounts are the most popular of these plans. 

There are three major plans established for the processing of eligible expenses under this code:

Health Reimbursement Arrangements (HRA)

Internal Revenue Service Code Section 105 allows employers to establish a written plan that in essence is a defined contribution medical plan.  Employers are allowed to reimburse employees for qualified medical expenses.  Eligible items include any expense under Internal Revenue Code Section 213 such as deductibles, co-pays, coinsurance, office visits, prescriptions, and other medical expenses agreed to by the employer and which are not covered by another plan.  Employees use funds to pay for qualified expenses as defined in the plan, but cannot contribute to the plan.

Advantages of a HRA 

The three most popular plans designs are:

Medical Expense Reimbursement Plan – Linked with a high deductible group health insurance policy this plan type is used to assist employees in paying deductibles and/or co-insurance.

Comprehensive – Typically a stand alone plan that allows employees to earn a periodic benefit that is generally used to pay all or a defined portion of the eligible medical expenses as defined under Internal Revenue Code Section 213.

Limited – Normally this plan type is used in place of insurance for expenses like dental or prescriptions.

We pledge to work for you and your participants and understand that in order to retain your business we must satisfy your benefit plan needs. Contact us today for more information.