Flexible Spending Account (FSA) Account Services

The University of Alaska ("UA") is seeking a qualified third-party administrator (TPA) to provide comprehensive administration services for its Flexible Spending Accounts (FSA) program supporting benefit-eligible employees across the UA System. The primary goal of this procurement is to select a qualified Contractor to administer the program for the upcoming five-year contract period, ensuring continuous, high-quality service while pursuing administrative enhancements. Specifically, the purpose of this solicitation is to establish a modern, scalable, and fully compliant FSA administration solution that: ‐ Sustains & Enhances Benefit Value: Matches or exceeds current benefit coverage levels while introducing innovative strategies, technology, and service features that improve program quality and value for UA employees. ‐ Delivers Modern Participant Experiences: Provides intuitive, multi-channel account management including 24/7 online participant portals, mobile application capabilities, real-time balance tracking, and simplified claim submission workflows. ‐ Ensures Operational & Technical Efficiency: Facilitates seamless, automated data exchanges between the Contractor and UA's enterprise systems, supporting efficient claim adjudication, daily/batch electronic integrations, and direct deposit or debit card disbursements. ‐ Strengthens Compliance & Oversight: Maintains strict adherence to IRC Section 125 regulations, HIPAA privacy standards, comprehensive auditability, and robust internal administrative controls. ‐ Provides Dedicated Service & Support: Delivers responsive customer service tailored to Alaska time zones, robust employee educational resources, and complete end-of-year financial reconciliation and reporting. Success will be defined by a seamless transition into the new 5-year contract term, high employee satisfaction, error-free financial accounting, and continuous operational reliability across all UA campuses and locations.