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The ManagedPAY benefits office provides comprehensive management of all group insurance benefits, Flexible Spending Accounts and 401k plans, to all of our PEO clients as part of their contract for service. Our qualified staff will complete and submit all enrollments, changes and terminations for all active and terminated employees, including those eligible for continuation of coverage under federal and state Cobra regulations. The ManagedPAY Benefits Department will perform the following services as an authorized representative for our clients: - ManagedPAY will notify new employees of eligibility for all benefit plans and complete all new employee enrollments at the ManagedPAY location. We meet one on one with each eligible member of your staff to ensure their understanding of your specified benefit options
- ManagedPAY works directly with your insurance carriers
- ManagedPAY will set up payroll deductions and provide monthly deduction reports
- ManagedPAY will reconcile and pay all monthly invoices for the specified group insurance plans once all authorizations and/or contracts have been obtained
- ManagedPAY will complete all court ordered enrollments
- ManagedPAY will complete all changes relative to insurance eligibility, name and address changes, addition/termination of dependent coverage – employee coverage etc.
- ManagedPAY will manage Cobra eligibility, including enrollments and termination of coverage
- ManagedPAY will notify employees of all annual enrollments and rate changes. ManagedPAY will work with individual brokers to coordinate renewals but will not participate in contract negotiation for renewals or new contracts sought by the client
- ManagedPAY will coordinate open enrollment meetings with your broker but shall conduct open enrollment meetings only if requested. Notification of meetings will be distributed to all eligible employees
- ManagedPAY performs all responsibilities related to the John Hancock 401k Retirement Plan including but not limited to: enrollments, changes, termination withdrawals and/or rollovers, loans and hardship withdrawal requests. All participant contributions are transmitted to John Hancock electronically each pay period
- Client must complete adoption agreement and designate their John Hancock plan design. ManagedPAY will complete fiduciary responsibilities and agrees to provide a copy of the annual 5500 filing and YTD plan summary to all clients adopting the ManagedPAY 401k Retirement Plan
The Benefits Team’s motto is...
“Let our Team jump the hurdles for you!”
Additional Professional Employer Organization Services:
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