Spending Account Administration
We offer end-to-end solutions that help employers and their employees maximize tax-saving opportunities while navigating the legal and practical complexities of spending account administration.
We are also able to administer highly specialized, company-specific spending account programs. Aon Hewitt's spending account options include:
- Section 125 Health Care
- Section 129 Dependent Care
- Health Reimbursement
- Health Savings
- Retirement Health
- Wellness and Employee Credit Plans
- Commuter Benefit Plans
- Adoption Assistance
- Tuition Reimbursement
- Health-Based Productivity Programs
Employees who participate in flexible spending accounts and other tax-favored account programs can save time and money. Nevertheless, managing the details of these accounts can be challenging for both employees and employers.
Aon Hewitt's Spending Account Administration team, using our proprietary Your Spending Account™ online tool, offers complete administration that helps employers and employees easily navigate the legal and practical complexities of these accounts. The website's innovative, user-friendly technology provides full administrative support and requires little or no time from HR staff.
With one click of a mouse, employees can:
- Submit claims
- Check available balances
- Review claims status
- View a list of eligible expenses
You can further boost your health care spending account program's efficiency, value and participation by adding a Your Spending Account debit card, which enables employees to pay for eligible out-of-pocket expenses as they're incurred. Approximately 83 percent of card transactions are validated automatically—minimizing the hassle of paying out of pocket and submitting and processing paper receipts. When paper receipts are received, 95 percent of claims are processed within three days and reimbursements are made daily.
Aon Hewitt provides administration through Your Spending Account for hundreds of thousands of employee accounts annually. All types of accounts are supported, including Section 125 health care spending accounts, Section 129 dependent care spending accounts, Health Reimbursement Accounts, retirement health accounts, credit and wellness plans, commuter benefit plans (transit and parking), adoption assistance programs/plans and education reimbursement programs/plans.
