We've got your back
MagnaCare handles all the financial aspects of administering benefits for Funds, from establishing banking relationships, to preparing and sending financial statements, to year-end tax reporting. For more than 30 years, we’ve maintained the confidence of Funds and Trusts nationwide by being effective, dependable, transparent, and honest.
Keep your entire financial status at your fingertips
Improve your oversight with round-the-clock access to all your benefit plan financial data and compliance information through our Create® Technology platform, which provides all the information you need in one place.
Quickly view the financial status of your plans, collect contributions, view billing and tax statements, view member records, and communicate directly with members. Your members can also track their status and pay premiums online through our advanced technology platform.
Leave the financial management to us
Our financial management services are efficient and flexible. We understand that every Fund or Trust has its own challenges, and we work with you to tailor a financial service package to meet your goals. To simplify your accounting, we submit a single monthly bill for all services, so you don’t have to manage multiple invoices.
Accounting and financial statement preparation
We handle the preparation of all your financial statements in accordance with professional standards, ensuring compliance with all legal requirements.
We establish a relationship with your bank so we can manage and monitor your cash and investment accounts and perform transfers and reconciliation as needed. You make payments through wire transfer and we’ll manage the rest.
Year-end tax reporting and government filings
We offer the knowledge and expertise to prepare all annual returns and reports required by the IRS and other government agencies.