Features of the Plan

The features of the CSI Flexible Benefits Plan are quite attractive to make participation easy and hassle-free. The features of the Plan are:
1. Administrative Fee: There is no set-up fee or installation charge to join the plan. There is no charge for participants using only the premium account. The fee for the medical reimbursement account/dependent care account is $5.00 per participant per month and the monthly minimum fee for a school is $50.00. Because contributions to the CSI Flexible Benefits Plan reduce taxable income, a reduction in the school’s payroll tax will offset some or all of the administrative fees.
2. Monthly Statement: Schools self-report deductions each pay period and forward contributions for only that pay period. Premium dollars do not need to be reported by the school; only medical reimbursement and dependent care amounts are reported. A monthly invoice will be sent to the school but it will bill only for the administrative fee.
3. No Need to Send Funds, Your School Keeps the Funds Until Used: Schools will be responsible for maintaining and funding a checking account that CSI’s claims administrator, Arcadia Benefits Group, will use to generate the Health or Dependent Care FSA reimbursements. This account can be a separate checking account or it can simply be the school general fund.
4. Over-the-Counter Items: Over-the-counter items purchased to alleviate or treat personal injury or illness are now eligible for reimbursement through the CSI Flexible Benefits Plan. These include Tylenol, Advil, aspirin, contact lens supplies, cold and flu medication and more.
5. Direct Deposit: Participants are reimbursed by direct deposit. This time saving feature reduces the time it takes to receive reimbursement and the funds are immediately available The participant will receive a deposit advice in lieu of a check.
6. Fax Claims: Participants may fax claims to Arcadia to further reduce the time required to receive reimbursement.
7. Claim Processing: Claims are processed and payments are issued daily and most claims are processed within 24 hours. Arcadia guarantees that all claims will be processed within 48 hours of receipt.
8. Web Site: A web site is available for participants to access their accounts online to check claims, reimbursements, and account balances.
9. Forms: You are able to print claim forms and other forms from the

Full Issue: No. 57 - March 27, 2009

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