What is a Flexible Spending Account?
A Flexible Spending Account (FSA) is an option that allows employees to set aside pre-tax earnings. This allows your employees to save more and your business to pay less FICA and FUTA taxes. A FSA typically helps pay for out-of-pocket expenses such as medical, dental, and dependent-care that are not covered in some benefit plans.
Expenses that qualify with an FSA include:
- Prescription Drugs
- Over-the-Counter Medicines and Drugs
- Co-pays and Deductibles
- Eyeglasses and Contact Lenses
- Non-Cosmetic Dental Procedures
- Psychiatric Care
- Chiropractic Care
- Child & Dependent Care
- Care for a child under 13years
- Care for a disabled spouse or dependent incapable of caring for him or herself
- Household-related services
Our Benefits Representatives offer extraordinary service with processing your claims, providing legal documentation, offering compliance tools and constant updates on employee accounts.