Products & Services
P.R.I.M.E. Benefit Systems is both a benefits administrator and a counselor on employee benefits.
LEGAL COMPLIANCE: Many organizations, particularly not-for-profits, as well as cities, counties, and school districts, engage us to review and rewrite legal written plans, Summary Plan Descriptions, HIPAA Business Associate Agreements, Privacy Notices, employee forms, and communication pieces.
COBRA (and State of Iowa Continuation): For a remarkably low fee, per qualifying event, we will contract with a client to fully administer their COBRA obligations. This can be, and is, a stand-alone service for those clients who do all their other benefits business elsewhere.
SELF-FUNDED DENTAL: Few companies complain as loudly about dental as they do about costly health insurance premiums, but dental has become a high cost component of the typical benefits package. For our larger clients (50 participants and larger), self-funded dental is a viable alternative to fully-insured plans. The real beauty of self-funded dental is not so much the cost savings, as in its remarkable flexibility. By law, a fully-insured plan cannot be as flexible in design.
SPLIT-FUNDED HEALTH PLANS: We are particularly adept at administering (reimbursing) almost every aspect of Split-Funded Health Plans, also referred to as “partially” self-funded plans, or HRA (Health Reimbursement Account) plans,. We bring higher deductibles down to lower deductibles, or to no deductibles; 80/20% coinsurance down to 90/10% or to NO coinsurance; higher out of pocket maximums down to lower out of pocket maximums or to NO out of pocket maximums. (That’s right, some clients pay virtually ALL medical bills for their employees!). We lower office visit co-pays, emergency room facility co-pays, prescription drug co-pays, and prescription drug deductibles. If you can think of a benefit design in your mind, we can administer it! We’ll administer a “high-deductible” HAS health plan, without it being “qualified” and without the qualified side fund. Rather, we use these kinds of plans when the employer wants unique prescription drug plans along with appropriate usage tracking.
NON-FUNDED HEALTH BENEFITS: “Non-funded” meaning that no money is actually disbursed. It typifies the “get outside the 9-dots” approach we use to solve client’s unique needs.
SECTION 125 CAFETERIA PLANS, along with HRA PLANS: We currently administer several hundred cafeteria plans, utilizing many different variations of employer-funded and employee-funded accounts.
QUALIFIED PARKING PLANS: While it is unusual for employees in Iowa to pay for parking, we administer qualified parking plans for them, where every aspect of administration is done electronically…from plan communication, to plan election, disbursement, and benefit statements.