What are Fringe Benefits?

Accessing quality healthcare and retirement fringe benefits is important for employees and their families. Many turn to Fringe Benefit Group to manage these essential offerings. As the leading single-source provider of fringe benefits for hourly and part-time workers, Fringe Benefit Group has administered plans for thousands of employers nationwide for over 30 years.

How Do I Set Up a Fringe Benefits Program For My Employees?

Setting up an effective fringe benefits program does not need to be complicated. The first step is to research what types of benefits would be most valuable and appealing to your workforce. Benefits like health insurance, retirement plans, and paid time off are standard offerings at most companies. You will also want to consider your budget and what your industry competitors provide.

Once you have selected your benefits, you’ll need to choose providers. Fringe Benefit Group is a leading benefits administration company that can help small to mid-sized employers set up and manage common benefits like healthcare, retirement plans, specialty insurance, and more. They work with many national carriers to offer quality benefits at affordable rates. As an all-in-one benefits provider, Fringe Benefit Group takes care of enrollment, billing, claims administration and customer service so you don’t have to.

How Do Employees Access And Manage Their Fringe Benefits?

After signing up with a benefits administrator like Fringe Benefit Group, both employers and employees will be given secure online access. Employees can typically log into a fringe benefits provider portal to view plan details, enroll in benefits during open enrollment periods, and manage their accounts throughout the year. Within the fringe benefits portal, employees can often update personal information, view eligibility details, submit claims, check claim status, and obtain tax forms or other documents.

For Fringe Benefit Group specifically, employees can log into their secure member portal through the website at fbg.com or by downloading the mobile app. Here they can find plan information, submit medical or specialty insurance claims, view coverage details, and message customer service representatives with any questions. The portal makes it easy for employees to be self-sufficient in managing their benefits.

What Assistance is Available If Employees Have Questions About Their Fringe Benefits?

Even with user-friendly online portals, employees may still have questions about their fringe benefits from time to time. That’s why administrators provide excellent customer service. Fringe Benefit Group can be reached by phone, email, or live chat through their website. Their dedicated fringe benefits provider phone number is 1-855-452-1400 for members and providers seeking assistance.

Customer service representatives are available to help with common questions like how to submit a claim, checking the status of a reimbursement, obtaining tax forms, requesting an ID card replacement, reviewing coverage details, or addressing billing inquiries. They strive to respond to messages promptly and resolve issues efficiently. The goal is to make managing benefits as simple as possible for both employers and employees.

How Do Healthcare Providers Access Information About a Patient’s Coverage?

In addition to serving employees, benefits administrators also work closely with healthcare providers. Fringe Benefit Group offers a fringe benefits provider portal where doctors, dentists, hospitals and other medical providers can register for secure access. Within the portal, providers can confirm patient eligibility, submit claims electronically, check claim status, obtain pre-authorizations, download remittance advices and more.

This streamlines the claims process for both providers and the benefits administrator. Patients also benefit from the convenience of electronic claims submission which can reduce processing time. Providers without existing online access to Fringe Benefit Group can call the dedicated fringe benefits provider phone number for assistance in registering for the portal. Prompt claims payment depends on efficient information exchange between all parties.

Are There Any Additional Resources For The American Worker Plan Participants?

Fringe Benefit Group has a long history of administering benefits for union workers through programs like The American Worker. This health plan was designed specifically for union members and their families. In addition to the standard benefits portal, The American Worker fringe benefits participants have access to extra perks and resources.

For example, through the website participants can find information on fringe benefits eligibility rules, contribution rates, summary plan descriptions, a drug formulary and more. The American Worker also has its own mobile app for on-the-go access to ID cards, claims details and other important plan documents. Union members can stay up-to-date on any plan changes or updates through email newsletters as well. Fringe Benefit Group is dedicated to fully supporting this important worker population.

How Do I Calculate Taxable Fringe Benefits If My Employee Uses A Company Vehicle?

When employers provide vehicles or allow personal use of company cars, the tax implications must be considered. The IRS has established guidelines for calculating the taxable amount that should be included in employee compensation.

To determine the daily taxable fringe benefits value, you’ll need the vehicle’s retail price including options when first made available to any employee. Then multiply this by the annual lease value percentage for the vehicle based on its fair market value. Divide this by 260 to get the daily taxable amount. You can also use the cents-per-mile method by multiplying personal miles by $0.62 per mile for 2023.

Fringe Benefit Group offers helpful worksheets and resources for calculating fringe benefit compensation on their website. They can guide you through the process of valuing employer-provided vehicles correctly for tax and reporting compliance. Proper calculation prevents issues down the line during an audit.

What Supporting Documents Do I Need For Filing Fringe Benefit Taxes?

Come tax time, employers must report the total value of taxable fringe benefits provided to employees on W-2 forms. The IRS also requires maintaining proper documentation to support fringe benefit valuations. Records should be kept for at least 4 years.

For employer-provided vehicles, records need to include the vehicle make/model/year, date first made available, retail price including extra features, actual commuting miles, and total driving miles. Keep worksheets showing your fringe benefit compensation calculations.

Other fringe benefits like health insurance, retirement plans, relocation expenses or educational assistance also require documentation of fair market values, employee usage and costs to the company. Fringe Benefit Group can supply tax forms and usage records to help with reporting. Proper filing supports an accurate reflection of total employee compensation.

Final Thought

Fringe benefits play a significant role in total employee compensation beyond traditional wages. Utilizing a trusted third party administrator takes much of the paperwork and stress out of benefits management for employers of all sizes.

With Fringe Benefit Group’s comprehensive online tools and customer service, both employers and employees can focus on their core responsibilities knowing healthcare, retirement, and other important coverage needs are taken care of.

The ease and support provided by an experienced provider like Fringe Benefit Group ensures fringe benefits fulfill their purpose of attracting and retaining a valued workforce for years to come.