A Flexible Spending Account is an IRS Code Section 125 Cafeteria Plan that enables employees to pay for eligible expenses on a pre-tax basis – an instant savings of nearly 30% for the employee! For you? Benefits costs are controlled without restricting choices, and you pay less in Social Security tax for every dollar of employee participation.
After a paperless on-line set up, employees place funds in predetermined benefit accounts through salary reduction. When a qualified expense is incurred, the employee submits a request and receives prompt reimbursement. With on-line administration and submission of Requests for Reimbursement, daily check processing, and direct deposit, Our FSA provides the industry’s fastest turnaround of requests!
Flexible Spending Account offers employers:
- All-inclusive fees – no additional charges or hidden fees.
- A funding arrangement unique in the industry.
- Exclusive VeriFlex process to substantiate Requests for Reimbursement.
- Electronic transfer of Client funds – no more cutting checks.
- No ties to any insurance or other employee benefit plan.
- Transportation benefit available at no additional cost.
- Mirror-imaging of payroll for fastest turnaround of reimbursements.
- 5+ years of experience.
- Audit guarantee.
Flexible Spending Account offers employees:
- Requests for Reimbursement submissions via paper, fax, or on-line.
- 24-hour turnaround on reimbursements via Direct Deposit.
- Instant account status availability on-line or via voice response system.
- Enrollment or re-enrollment on-line from the privacy of your home.
- Flexible Spending Account Claim Card (debit card) for seamless real-time payments.
- Toll-free customer service, including a separate line for Participants.
Your Flex Spending Account Card
We are proud to offer a Flex Spending Account Card for participating employees! Employers who elect the Flex Spending Account Card see more participation and greater contributions by their employees. Employees love the convenience of instant reimbursement! It’s a win-win for all parties!
The card can be used to pay for medical expenses at clinics, optometrists, dentists, and pharmacies (including for approved over-the-counter medications!). It can also be used for daycare and transportation expenses, if applicable.
We also offer the Dependent Care Card! With this card a dependent of the Participant (spouse, adult child, etc.) can draw funds from the Participant’s account to pay for eligible expenses! Many Participants enjoy this added convenience, making it even easier for the family to get instant reimbursement of their FSA funds at the pharmacy or physician’s office.
The added tax savings realized by increased participation and contributions makes adding the cards an obvious choice!