Feeling the Burn? Dependent Care FSAs are Failing Everyone. Here’s How to Fix Them.

Summer is in full swing, and for many families, that means summer camp expenses. While dependent care flexible spending accounts (DCFSAs) are designed to help workers save on childcare costs (including summer camps!), outdated systems and user frustration mean many are leaving valuable tax savings unused.

Due to the outdated technology offered by their partners, TPAs providing these programs to clients struggle to provide user-friendly solutions that deliver real value to participants.  

The FSA Frustration Factor

Traditional dependent care FSAs are often a source of confusion and inconvenience for employees:

• Complexity overload: Enrollment requirements, contribution limits, and deadlines can feel overwhelming.
• Clunky user experience: Outdated interfaces, slow reimbursements, and tedious documentation requests create unnecessary complications. The requirement for upfront payment at many camps, coupled with FSA reimbursement only after the care is provided, adds to the frustration.
• The "use it or lose it" trap: The fear of forfeiting unused funds at the end of the year discourages many from participating altogether.

This results in low participation rates, leaving both employees and employers missing out on significant tax benefits.

A married couple could save up to $1,500* or more each year with a dependent care FSA.

Elevate: Solving Your FSA Program Problems

Elevate's FSA software makes the entire experience—for both dependent care and health care FSAs—intuitive and user-friendly for participants:

• Simple: Elevate simplifies the entire user experience, from balance checks to claims submission and reimbursement, all reducing frustration and increasing engagement.
• Lightning-fast payments: Forget weeks of waiting. Elevate processes claims immediately and issues real-time payments.
• Instant support: Elevate provides instant coaching and feedback to make sure participants always have the support they need.

By removing barriers and improving the user experience, Elevate has proven to increase FSA participation and satisfaction rates.

Since partnering with Elevate, one partner has seen a 147% increase in overall consumer account program enrollment in just one year.

How Elevate Specifically Helps TPAs‍

Elevate does more than improve the participant experience – we make the experience better for FSA administrators, too.

1.     Improving onboarding and enrollment

• Implementation: Elevate's platform is designed for rapid deployment, allowing TPAs to quickly integrate into their existing systems and processe.
• Intuitive client setup tools: Elevate's one-click plan template tool allows clients to get set up and renewed quickly, easily, and accurately, which saves TPA teams both time and effort.
• API data transfers: TPAs can easily send enrollment records and updates by API, eliminating the time and human error associated with data file transfers.

2.    Providing white-label branding

• Customizable interface: Elevate's platform can be fully customized to match any TPA's branding, including logos, colors, and fonts. This creates a consistent experience for clients and reinforces the TPA's brand identity.
• Personalized communications: Elevate lets TPAs send customized emails and notifications to participants, which helps the relationship and provides a more personalized touch.
• Client-specific portals: TPAs can now offer intuitive employer dashboards for each client, providing a centralized location for managing their FSA benefits and accessing information, including comprehensive reporting.

3.    Giving partners automated tools and extensive controls

• Claims tools: TPAs are able to slash their workload with features like: automated claims processing, automated claim assignments for ones that need human review, the ability to process within the TPA’s existing platform, automated feedback, and claim transfer tools.
• Automated funding: End-to-end automation of prefunding and contributions save time and eliminates multiple spreadsheets. TPAs can even schedule ongoing contributions through the dashboard based on the payroll schedule.
• Reporting: TPAs have deep data and analytics capabilities, including custom reporting.

4.    Helping you gain a competitive advantage

• Modern technology: Elevate's technology sets it apart from competitors who rely on outdated systems. No longer manual or clunky, Elevate is built on automation, removing tasks from TPA teams, saving TPAs time and money.
• User-centric design: Elevate prioritizes the user experience, making it easy for both employees and TPAs to navigate and manage FSA benefits through highly intuitive interfaces.
• Value-added services: Elevate's features go beyond basic FSA administration, offering a comprehensive suite of consumer account solutions: health savings accounts, health reimbursement arrangements, commuter accounts, lifestyle accounts and more. Elevate's approach gives TPAs a distinct advantage in the market by providing a comprehensive, cost-effective program built on automated and modern technology.

Transform Your FSA Program

Let’s make bug bites and muddy clothes the biggest problems there are with summer camp...not paying for it. Give your participants the tools they need to maximize their tax savings and enjoy a stress-free summer camp experience. Elevate not only simplifies FSA management but also demonstrates your commitment to providing valuable benefits and support.

Partner with Elevate to make your dependent care FSA program one that people want – and use to its full potential. Schedule a demo.

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*Tax savings assume a maximum contribution rate, a 24% federal tax rate, and a 7.65% FICA tax rate.