Action 16.
Regular Board of Supervisors Meeting - 10:00 am
Human Resources
- Meeting Date:
- 07/09/2024
- Title:
- Agreement with CPI for Flexible Spending Account Services
- Submitted By:
- Melissa Wright, Board of Supervisors
- Department:
- Board of Supervisors
Presentation:
No A/V Presentation
Recommendation:
Approve
Document Signatures:
BOS Signature Required
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
2
NAME
of PRESENTER:
of PRESENTER:
Jennifer L. Graeme
TITLE
of PRESENTER:
of PRESENTER:
Director of Human Resources
Mandated Function?:
Not Mandated
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Docket Number (If applicable):
Information
Agenda Item Text:
Approve agreement with COBRA Professionals, Inc, (CPI) to continue Flexible Spending Account services as an optional employee benefit, effective August 1, 2024.
Background:
Since July 1, 2003, Cochise County has utilized Sheakley as a provider for our Flexible Spending Account (FSA). The FSA is an optional benefit employees can select to contribute pre-tax dollars to pay for medical expenses. A plan to set aside funds for dependent care is also available. Sheakley has partnered with COBRA Professionals, Inc. (CPI) and the transition requires a new agreement. No other changes to our plan or costs are included in this agreement.
Department's Next Steps (if approved):
Send signed agreement to CPI.
Impact of NOT Approving/Alternatives:
Identify another provider for these services, resulting in employees with an FSA being without the benefit until a new provider is identified and approved by the Board of Supervisors.
To BOS Staff: Document Disposition/Follow-Up:
Please forward a signed copy to Human Resources, who will send it to CPI to finalize the transition from Sheakley to CPI.
Fiscal Impact
- Fiscal Year:
- 8500
Fiscal Impact & Funding Sources (if known):
Employee contributions pay for all fees except a monthly ACH fee of $12.00 ($144 / year)
- Fiscal Year:
- 8500
- Source of Funding?:
- 501-1400-1450 421.900
Fiscal Impact & Funding Sources (if known):
Employee contributions pay for all except a monthly ACH fee of $12 or $144 / year.