Flexible Spending Accounts (FSAs)
A Flexible Spending Account or FSA is a Section 125 tax-advantaged benefit program established by an employer for their employees. This consumer driven account allows employees to use pre-tax money for eligible Section 213d healthcare and dependent care expenses. Based on their needs, employees may elect up to $2550 of their annual salary for healthcare and $5000 for dependent care expenses to be placed into an FSA on a pre-tax basis. There are three different types of accounts that can be offered by an employer through this program a Healthcare FSA, a Dependent Care Spending Account or a Limited Scope FSA.You and your employees both get to enjoy tax savings. Plus you get piece of mind knowing that we are here to guide you every step of the way – saving you precious time and energy.