Benefit Options
Flexible Spending Accounts (FSAs)
This account allows employees to plan ahead and set aside tax-free dollars for unreimbursed healthcare expenses, as defined by IRS Code Section 213(d). Employees should conservatively pre-determine what their healthcare expenses will be for the coming year. Employees are reimbursed with tax-free dollars from their account after submitting a reimbursement form, along with other required information. Participants must incur the expenses within the plan year or they forfeit the money in their account. Click here to learn more about the savings potential for FSAs.
Click here to learn more about FSAs.
Dependent Care Spending Accounts (DCSAs)
This account allows employees to pay for child or elder care expenses with tax-free dollars. These expenses must be incurred while the employee is working or a full-time student, and must be for the care of a Section 125 tax dependent. Employees are reimbursed with tax-free dollars from their account after submitting a reimbursement form, along with other required information.
Click here to learn more about DCSAs.
Premium Only Plans (POPs)
With this plan, the employee can pay for their portion of the group health insurance expenses on a tax-free basis. As healthcare expenses change, employees elections can also be adjusted.