CFC Study Program

CERTIFICATION IN FLEXIBLE COMPENSATION (CFC) – Session Descriptions.
Includes Eight Self-Paced Online Courses

 

CFC Course One: Flexible Spending Accounts (FSA) 
Upon completion of this course, participants will be able to:

·      Understand the basics of IRS Code Section 125

·      Understand the flexible spending account (FSA) options and eligibility rules

·      Understand General Purpose Health Care FSA, Limited Purpose Health Care FSA,

·      Post HSA Deductible Health FSA

·      Understand Dependent Care FSA

·      Understand Premium Reimbursement Accounts

·      Understand how health care reform impacts FSAs

·      Understand HIPAA and COBRA as it relates to Health Care FSAs

·      Understand general election, change of election rules as it relates to FSAs

·      Understand general FSA claims filing rules



CFC Course Two: Claims Management/Debit Cards

Upon completion of this course, participants will be able to:

·      Understand proposed IRS Code Section 125 regulations relative to FSA claims and debit cards

·      Understand regulatory requirements on FSA claims and debit cards

·      Understand Health FSA requirements

·      Understand health care reform impact on Health FSA claims

·      Understand Dependent Care Assistance (DCAP) claim requirements

·      Understand Payment/Debit Cards

 

 

CFC Course Three: Consumer Driven Healthcare-Health Reimbursement Arrangements (HRA)

Upon completion of this course, participants will be able to:

·      Understand what is consumer-driven health care

·      Understand what is a health reimbursement arrangement (HRA)

·      Understand what compliance issues can arise with HRAs

·      Understand HIPAA and COBRA as it relates to HRAs

·      Understand HRA eligibility

·      Understand HRA plan designs

·      Understand HRA claims rules

·      Understand CMS reporting for HRAs

·      Understand why you should have an HRA

·      Understand how health care reform impacts HRAs

·      Understand Qualified Small Employer HRA (QSEHRA)

 

 

CFC Course Four: Consumer Driven Healthcare-Health Savings Accounts (HSA)

Upon completion of this course, participants will be able to:

·      Understand what is consumer-driven health care

·      Understand what is a health savings account (HSA)

·      Understand what is a qualified high deductible health plan (HDHP)

·      Understand HSA eligibility and disqualifying coverage

·      Understand HSA contributions limits and methods (employee only, employer only or combination)

·      Understand HSA distributions

·      Understand HSA penalties

·      Understand HSA reporting requirements

·      Understand differences between HSA and HRA

·      Understand how traditional benefits interact and become compatible with HSA-Avoiding HSA headaches

·      Understand what compliance issues can arise with HSAs

·      Understand how health care reform impacts HSAs

 

 

CFC Course Five: Legal Requirements 
Upon completion of this course, participants will be able to:

·      Understand cafeteria plan concepts

·      Understand written cafeteria plan document requirements

·      Understand which benefits are eligible under a cafeteria plan arrangement

·      Understand who can sponsor a cafeteria plan

·      Understand who is eligible to participate in a cafeteria plan

·      Understand how cafeteria plan elections are made and when elections can be changed

·      Understand cafeteria plan contribution methods

·      Understand how FMLA, HIPAA, ERISA and nondiscrimination testing applies to cafeteria plans component benefits 

 

 

CFC Course Six: Documentation & Filing
Upon completion of this course, participants will be able to:

 

·      Understand who can sponsor a cafeteria plan

·      Understand who is eligible to participate under a cafeteria plan

·      Understand what is eligible under a Section 125 Premium Only Plan

·      Understand what is eligible under a Section 125 Cafeteria plan that includes Premiums and FSAs

·      Understand Health FSA rules and requirements

·      Understand Dependent Care FSA rules and requirements

·      Understand Individual Premium Reimbursement rules and requirements

·      Understand basics of Adoption Assistance and Health Savings Accounts

·      Understand basics of ERISA

·      Understand basics of Form 5500 filing requirements

·      Understand basics of TPA Bonding and Licensing requirements

·      Understand W-2 reporting responsibilities


CFC Course Seven: Nondiscrimination Testing
Upon completion of this course, participants will be able to:

·      Understand general nondiscrimination testing concepts

·      Understand the types of employees identified in nondiscrimination testing

·      Understand the basics of Section 125 plan cafeteria plan testing (eligibility, contributions and benefits, key employee concentration test)

·      Understand the basics of the Section 125 Premium Only Plan safe harbor rules

·      Understand the basics of Simple Cafeteria plans

·      Understand the basics of Section 105 nondiscrimination testing (eligibility and benefits)

·      Understand the basics of Dependent Care FSA nondiscrimination testing (eligibility, average benefits, key employee concentration test)

·      Understand the basics of how Adoption Assistance, HSAs, Group Term Life insurance are impacted by nondiscrimination testing

·      Understand the consequences of nondiscrimination testing failures



CFC Course Eight: Transportation Plans

Upon completion of this course, participants will be able to:

 

·      Understand an overview of Code 132(f)

·      Understand who is eligible for transportation benefits

·      Understand what options are available under the Transportation Plan

·      Understand Transit and Vanpooling rules and requirements

·      Understand Parking rules and requirements

·      Understand the limits associated with Transportation plan benefits

·      Understand how tax reform impacts Transportation Plan benefits

·      Understand how debit cards work with Transportation plan benefits

·      Understand Transportation Plan program and regulatory details

 

 

This CFC Study Program comes with 12 CE Units.

Instant Download Purchase: $699 Member | $1398 Non-member

You can purchase the Study Program in the Course Catalog through the MY LEARNING link at the top navigation bar.

 



The FCS, CFC, ACFC and CAS are administered by the Flexible Compensation Institute, LLC, a wholly owned subsidiary of ECFC.