Generally, it depends on your companys policy, and state regulations. Below is a general guideline for what happens to the account and when: On the Day That an Employee is Terminated The employee’s commuter benefits card will be deactivated. The employee’s commuter benefits plan will end. All unused funds will be returned to the employer. […]
Health Reimbursement Accounts (HRAs) are usually offered in conjunction with an High Deductible Health Plan (HDHP). Usually an HDHP will result in reduced premium costs, which creates real savings on healthcare costs for the employer. HRA contributions can be funded using the savings gained from the lower premium costs. Most importantly, all employer contributions to […]
Life insurance policies are required to be kept on file, employees must receive documentation of the policy, and claims must be processed.