Since 1980 employers have been relying on FEBCO, Inc. (Flexible Employee Benefits Company, Inc.) to reduce the cost of benefits administration and enhance the value of the benefits packages offered to employees. FEBCO, Inc., outsourcing services began with the administration of flexibility spending accounts for twelve school districts in South Central Kentucky, representing 3,800 employees.
Since then, FEBCO, Inc., systems have been continuously enhanced to respond to the changing need of our clients. FEBCO, Inc., systems are specifically designed to accommodate data intensive administration and complete enrollment, maintenance, and communication services. FEBCO, Inc., utilizes the latest in computer software and office equipment to support flexible benefits administration.
Our Goals
· To meet our clients needs through all possible resources
· To build a reputation on prompt and effective service
· To give personal service to each individual and his or her benefit portfolio
Our Beliefs
· That with FEBCO’s help, employers can provide cost effective benefits to meet employees needs which greatly enhance the net worth of the organization.
· That FEBCO, Inc., is responsible for seeking new avenues and creating the most current benefit administrations strategies and providing these services to promote client satisfaction.
· That government and private agencies that provide employment and service to citizens at large deserve the best benefits to promote the general welfare and well-being of all employees
FEBCO is one of the nation’s most experienced Flexible Benefits Administrators. We provide a complete solution, including initial implementation, expert claim adjudication, instantaneous tracking, comprehensive reporting, easy-to-use online forms and informative employee communication materials. Employees can take full advantage of the tax savings afforded them through participation in a Flexible Benefits program.
FEBCO provides participants timely claim reimbursements to maximize interest and participation while relieving you of the administrative burdens often associated with these programs. And, employees using the FEBCO Benefit Card for their approved purchases, including some over-the-counter (OTC) medications and other eligible items, can have expenses deducted automatically from their account.
Experience
FEBCO has vast experience in benefit plan administration for various institutions. We administer more than 350 large public and private employer benefit plans such as the Kentucky League of Cities and the Kentucky Association of County Government. FEBCO has provided Flexible Spending Account services since 1980.
Enrollment, Eligibility, Compliance and Notification Management Services
Employers contending with increasingly time-consuming annual enrollment, updating the databases of every single carrier they deal with ongoing as well as compliance-related communication to employees will appreciate FEBCOTM. Core services under FEBCOTM include electronic,and paper-based enrollment services, direct-to-carrier eligibility reporting, consolidated billing, all COBRA and other compliance-related notification, and more. A wide variety of optional services are also available.
Once FEBCOTM services are implemented, employers only have to update one database! One consolidated bill each month - an accurate one - saves countless hours. Enrollment services are designed by the employer together with FEBCOTM , but carried out by FEBCOTM. And a wide variety of compliance related communications as well as general HR communication can be automated. All this frees employers to concentrate on strategic planning, hiring, training, infrastructure ... in short: their own business priorities.