ABS specializes in providing benefit fund administrative services to trusts, Multi-employer Welfare Arrangements (MEWAs), unions and other specialized clients. These groups each may offer cafeteria style benefit programs through a variety of regulatory arrangements, including ERISA and Taft-Hartley Plans. Within such an arrangement, multiple benefit levels for medical, dental, life, or short-term disability coverage may be available according to plan rules established by the Trustees or Plan Sponsors.
ABS provides comprehensive health, welfare and trust administration and financial and regulatory administrative services to help even the most sophisticated of these clients manage their benefits and comply with applicable laws.
ABS coordinates with all insurers, PBMs, PPOs, wellness providers, and other applicable entities, in a HIPAA-compliant, secure environment utilizing 834 and 837 files.
ABS offers services to help benefit fund clients collect their Medicare Part D Retiree Drug subsidies and streamlines the collection process. ABS coordinates with the PBM and Centers for Medicare and Medicaid Services on the client’s behalf.
ABS maintains eligibility down to the member level, allowing for multiple layers of eligibility within one employer. ABS staff reconciles all premium bills and customizes billings to the applicable Trust’s requirements. Utilizing hour and week banks, accurate records are maintained to ensure correct benefit eligibility.
ABS audits and reports on delinquencies and refers any outstanding delinquencies to outside counsel.
ABS provides specialized financial, accounting and regulatory support for Trust, MEWA, Union and ERISA-sponsored employer plans. The ABS financial and accounting team, led by CPAs with public accounting and audit partner experience specializing in healthcare and employee benefits, provides the following services: