Products January 6, 2004

Hewitt Unveils FSA Administration Service

January 6, 2004 (PLANSPONSOR.com) - Hewitt Associates has kicked off its flexible spending account administration service in which it will provide recordkeeping and claims administration for flexible spending accounts (FSA) and health reimbursement arrangements (HRA).
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According to a news release, Hewitt FSA administration allows employers to provide workers with debit cards through which they can deduct funds from their flexible spending accounts to pay health care and prescription drug providers.

The company said the new service would integrate with Hewitt’s Your Benefits Resources (YBR) platform and customer support, offering participants access to an integrated employee benefits portal where they can view broader health care information, as well as review FSA claims, check account balances, and verify allowable expenses.

Hewitt said it has already signed up 50 FSA administration clients so that their employees could make the appropriate arrangements during the 2003 benefit registration period. The company plans to take the program beyond health care and dependent care spending accounts to cover transportation reimbursement, tuition assistance and adoption assistance program administration, according to the news release.

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