Learning Options

Managing Flexible Benefits
Certification Course: B5

Deliver Benefits Solutions for Diverse Needs

This intermediate-level course focuses on flexibility to enhance benefits design and delivery. Specifically, it addresses the role of traditional and emerging flexible benefits design and management in employee benefit plans. Strategic planning, administration, communication, and coordination of key management decisions on design, legal compliance, pricing and implementation also are addressed.

• Gain an overview of the types of flexible benefits
• Discuss legal/regulatory issues related to flexible benefits
• Examine flexible benefits strategy and a design process
• Take a look at pricing from different perspectives
• Study Consumer-Driven Health Plans (CDHPs) and the different perspectives
• Review the administrative, communication and implementation of flexible benefits

Who Should Attend

This course is designed for seasoned benefits professionals who are managing flexible benefits programs or who are preparing to manage flexible or modify existing benefit plans. It is recommended that participants be proficient in the content covered in WorldatWork courses B1, B2 and B3.

What You Will Learn

Overview of Flexible Benefits

• The total rewards model
• What are flexible benefits?
• Flexible benefits options
• Prevalence of flexible benefits
• How have flexible benefits evolved?
• Present-day influences

Types of Flexible Benefits

• Premium conversion plans
• Flexible spending accounts
• Simple choice plans
• Full flex plans
• Consumer-driven health plans
• Characteristics by plan type

Legal/Regulatory Environment

• Current legal structure
• Terminology
• Key provisions for Section 125 plans
• Written plan requirements
• Statutorily eligible benefits
• Prohibited benefits
• Additional legal considerations
• Nondiscrimination rules

Strategy and Design Issues

• Flexible benefits strategy
• Considerations in scope and depth
• Design process model
• Common plan issues
• Feasibility evaluation

Pricing

• The strategic pricing process
• Determining philosophy toward benefit subsidies
• Dynamic pricing model
• Pre-assessment
• Pricing basics
• Pricing flexible benefits models
• Credit allocation and pricing

Consumer-driven Health Plans

• Consumer-driven health plans (CDHPs)
• Purpose
• Components
• Strategy
• Health Savings Account (HSA) basics
• Implementation issues

Implementing Choice

• Communication
• Administration
• Process issues

Credits
• CBP: Elective
• Certificate in Health & Welfare Programs Design
and Administration: Required
• Recertification: 2 course, .5 exam
• CEUs: 1.5 course, .3 exam
• CPEs: 16
• CPIM/CFPIM/CSCP: 14 points
• PHR/SPHR/GPHR recertification hours: 16

	Credits CBP: Elective; Certificate in Health/Welfare Programs Design and Administration: Elective; Recertification: 2 course, .5 Exam CEUs: 1.5 Course, .3 Exam; CPEs: 16; CFP: 4 credits CPIM/CFPIM/CSCP: 14 points PHR/SPHR/GPHR recertification hours: 16
	Faculty
	Course book amendments
	Test your knowledge

Consider Bringing This Course to Your Location This professional development program and others offered by WorldatWork can be customized to meet the unique needs of your organization and delivered at your location. For more information, contact a Corporate Education Resource Manager at 877/710-5970 or 480/905-5980.