HRA/FSA Takeover Process
OCA’s takeover process for HRA and/or FSA administration may be the solution your looking for. It is Important to understand the options listed below in order to determine what best suits your client’s needs
Under this option OCA can take over an existing HRA/FSA group during the course of the active plan
year – any day of the month! OCA will need the existing plan design, employee census, account balances, and claim detail
(when available). OCA’s preference is to capture the claim detail so that we can avoid duplicate claims (i.e. claims that were
already paid by the prior administrator). Under this option, OCA will take over an existing HRA/FSA plan with minimal
disruption and continuity.
End of Year Takeover of Run-Out Period:
Under this option, OCA will take over an existing HRA/FSA group at the start
of the new plan year. Your client will term with their current administrator and OCA will handle any runout of prior years’
claims. This option also requires OCA to receive prior plan information, including: employee census, account balances,
and claim detail (when available).
With the mid-year or end of year takeover option a “black-out” period is necessary. The employer
designates a specific date that the prior administrator would stop processing unreimbursed claims, remit the claim detail to
OCA, and allow OCA to reprocess those claims in the OCA claim system. During this time, OCA will not process any new
claims until the takeover data has been received. Typically, this process takes no more than 5 business days.
Starting Fresh (simplest option): This is the easiest and least disruptive to the employee population. Under this option,
OCA would begin administration at the beginning of the new plan year. The prior administrator can handle the run-out period
from the previous plan year. If rollover was elected (i.e. FSA $500), the previous administrator would send a balance report
at the close of the run-out to the employer and/or OCA directly.