Flexible Benefit Programs

Enrich the employee experience with access to payroll, HR, benefit administration, and flexible benefit programs in a single location.

Paylocity is revolutionizing the TPA industry with technology that has simply never existed before—creating a truly convenient and unified employee experience. Navigating the complex world of third-party administrative (TPA) services, such as FSAs, HSAs, TMAs, POPs, and HRAs has never been easier. Our solutions are designed to enhance and streamline user interaction by providing a single, unified access point for payroll, HR, and benefit administration & technology. Beyond modernizing how employees obtain this pertinent data, employers are armed with tools to:

 

Lower premium costs and reduce absenteeism

Improve ability to attract and retain top talent

Reduce healthcare costs and maximize savings

We provide a unique combination of innovation and
support dedicated to simplifying the world of:

Health Savings Account (HSA)

Offered to employees enrolled in a high-deductible health plan, an HSA lets employees set aside money on a pre-tax basis to pay for qualified medical, dental, and vision expenses. For maximum tax savings, HSAs can be paired with a Limited FSA.

 

Triple Tax Savings: Funds go in tax-free, grow tax-free, and are distributed tax-free for qualified expenses.

 

Other Perks: Accounts are individually owned and portable; plus, unused funds rollover and have investment options.

Flexible Spending Account (FSA)

An FSA allows employees to contribute money into an account with each paycheck to pay for qualified expenses on a pre-tax basis. Employees can then use these tax-free funds to pay for out-of-pocket medical costs and other eligible expenses! With FSAs, employers experience FICA savings on contributions, plus increase their appeal in attracting and retaining talented employees.

Healthcare FSA: An account option used to pay for out-of-pocket medical care expenses, such as deductibles, prescriptions, check-ups, and more.

 

Limited FSA: An account option for employees enrolled in an HSA that can be used for qualified dental, vision, and preventative care expenses.

 

Dependent Care FSA: This account can be used to pay for eligible child and adult care services, such as preschool, before or after school programs, daycare, and more.

Health
Reimbursement
Arrangement (HRA)

An HRA is a tax-advantaged, employer-funded health benefit plan that reimburses employees for out-of-pocket medical expenses. Employers can custom design benefit plans to strategically address rising healthcare premiums. Unlike other accounts, an HRA is a “promise to pay” and is not pre-funded.

Premium
Only Plan
(POP)

A POP allows employees to pay most insurance premiums on a pre-tax basis. While employers experience the FICA savings match, employees save federal, state, and FICA taxes, which leads to increased take-home pay.The IRS requires a POP for employers to take benefit premium payments pre-tax.

Transportation Management Account (TMA)

A TMA is a pre-tax benefit that allows employees to pay for work-related transportation and parking expenses. This account reimburses employees for expenses such as buses, vanpooling, and subway or commuter-train costs. Not only do TMAs help employees save money on a daily expense, but also promote ‘going green!’

Debit Smart Card

Give employees instant access to employees’ elected funds on a single card. Paying for qualified medical, dental, vision, and commuter expenses has never been easier than with a debit card loaded with your account balances from multiple plans. No more claim forms. No more paying out-of-pocket. No more hassle.

Want to learn more? Let's chat.

If you or a client is interested in learning more about our TPA services, please fill out this brief form and one of our representatives will contact you shortly.