Expanded Financial Access, Compliance Documents Part of Employee Benefits Website Enhancements

The NRECA Employee Benefits website launched enhancements this past weekend that will benefit cooperatives with group insurance and tax-advantaged accounts.

Expanded access for financial users
In response to member feedback, the financial access users of the Employee Benefits website can now access needed reports and information for their co-op’s tax-advantaged accounts.

If your cooperative offers a health reimbursement arrangement (HRA) and/or a flexible spending account (FSA) through NRECA, users with financial access will now be able to view the webpages associated with tax-advantaged accounts. Financial access users and benefits administrators can access this section through Co-op Insurance > Tax-Advantaged Accounts > Manage 125 Plan and HRA. Select the needed co-op subgroup then click “Reports” at the top of the next page to access a variety of reports. Specific reports that financial access users may find beneficial include:

• Employer Fee Funding Notification – provides users with your co-op’s monthly invoice for administrative fees.
• Account Balance Detail Report – provides the remaining balance of each of the co-op’s tax-advantaged accounts as well as individual employee account balances. This will aid in the co-op bank funding process.
• Employer Funding Report – generated on the first day of each month, this report summarizes the prior month’s participant claim activity and will assist with your co-op’s monthly reconciliation for claim reimbursement and co-op bank funding.

Benefits administrators can designate employees as financial access users by going to Employee Administration > Custom Access.

Consolidated location for compliance documents
Benefits administrators at co-ops offering benefits under the Group Benefits Program now have “one stop” access to compliance documents for these plans. Whether you are looking for a summary of benefits and coverage, summary plan description or summary of material modification, the new Group Plan Documents page (available through Co-op Insurance > Group Plan Documents [SBC, SPD, SMM] be able to access) has it. BAs can also check to see what documents require distribution acknowledgement and what documents have already been acknowledged from the same page.

Questions?
If you have any questions about these enhancements, please contact the Member Contact Center at 866.673.2299 or via email at contactcenter@nreca.coop