Spotlight on Benefit Management Administrators. Inc. (BMA)
Third Party Administrator Spotlight
Each month, FSAstore.com features one of our valued partners as part of our newsletter. This month, we are pleased to present a partnership spotlight on Benefit Management Administrators, Inc. (BMA). Headquartered in San Antonio, Texas, is committed to providing superior service on behalf of their Employer Groups, Plan Sponsors and Plan Members, with an emphasis on maintaining the highest levels of in-house benefit plan expertise, technical innovation and product support.
How important is having access to FSAstore.com for your participants?
FSAstore.com has been extremely valuable for our participants. Not only does it serve as a comprehensive list of FSA-eligible items, but it provides participants with great resources and discounts to help them make the most of their FSA dollars.
Which FSAstore.com tools do you think add the most value for your participants?
Having an online database of FSA-eligible items has added a lot of value for our participants. Tools like the FSA Calculator also help our participants better understand their FSAs and how to make the most of them.
How simple was it to roll out FSAstore.com to your participants? Was integration on your site seamless?
It was very simple. Once we got our customer service team up to speed on FSAstore.com, all we had to do was send out one of the pre-made emails. Integration in our web portal couldn’t have been easier; all we had to do was copy and paste a few lines of code.
What makes BMA unique among FSA administrators?
Our commitment to service. Since 1992, BMA has focused on providing high-quality administrative services with customer service that is second to none. Our ‘full service’ approach also differentiates BMA among other administrators.
How do you keep participants aware of upcoming FSA deadlines? Do you also use social media to keep participants abreast of deadlines and other relevant news?
BMA utilizes a blended approach of both direct mail and technology to keep members informed. We communicate FSA deadlines by sending participant statements to the home address, email communications, newsletter blasts as well as customized communication efforts that fit the needs of each client. Social media is becoming a big part of our outreach efforts.
In which ways do you keep participants informed about changes to their FSAs (i.e. Health Care Reform)? What was your position on the U.S. Treasury changes to the "Use it or Lose it" rule?
At BMA, every client is unique, therefore, our efforts to keep participants informed was customized, to a degree, based on their needs. Direct mail or email updates tends to remain the most widely used method for updates, however there were other methods used, such as payroll stuffers, e-blasts, booths at benefit fairs, etc. Our position to the “Use it or Lose it” rule was to allow each client to make their own choice.
Do you notice general confusion among participants about what’s eligible or how to use an FSA in general? (i.e. do participants ask questions about what products or services are covered).
We get a lot of calls placed to our customer service team with questions about what is or isn’t FSA eligible. Our team has found FSAstore.com to be the best and easiest way to get a current database of eligible items to participants.
Can the benefits industry as a whole improve education efforts about FSAs, HRAs and HSAs? How?
Yes, there is always a better way. It is about remaining committed and finding out what works. Social media, and the media in general, has made a definite impact on benefit awareness. Our goal at BMA is to continue to produce straightforward communication materials that members understand and find useful.