HSA, FSA, and COBRA Administration Services

The Vendor is required to provide carriers to administer health savings accounts (HSA), flexible spending accounts (FSA), and COBRA programs for approximately 475 employees.
- Responsibilities include HSA custodial services, contribution processing, investment options, debit card management, and reporting.
- FSA services will include claims processing, expense substantiation, and management of run-out and carryover provisions, along with a clearly defined funding methodology (including fund handling, reimbursement timing, and any prefunding requirements).
- COBRA administration will include timely distribution of notices, management of qualifying events, premium billing and collection, remittance processing, and record retention.
- The following lines of coverage for the city for an October 1, 2026, effective date:
• Health savings accounts (HSA)
• Flexible spending accounts (FSA)- healthcare, dependent care
• COBRA continuation of coverage.