Many employers choose to expand their Section 125 flexible benefit plan by adding FSAs. These accounts allow for employees to set aside pre-tax dollars to be used for eligible out-of-pocket expenses. Contributions to these benefit accounts help offset taxable income resulting in savings for both the employer and employee! To learn more about implementing an FSA contact FBA today.
Healthcare FSAs can be used to pay for qualifying healthcare expenses, including medical, dental, and vision costs, that are not covered by health insurance plans. By offering a Healthcare FSA, participants are able to pay for these qualified expenses incurred during the plan year as an active participant. The 2019 annual contribution limit for a Healthcare FSA is $2,700.
Limited Healthcare FSA
A Limited Healthcare FSA is exclusively designed to offset the cost of dental and vision expenses. This FSA program is available to employees who are enrolled in a high deductible health plan (HDHP) as well as an HSA. Limited Healthcare FSAs offer additional tax savings for employees, which in return increases plan participation!
Dependent Care FSA
The Dependent Care FSA is used to pay for eligible dependent care expenses. A few qualified expenses include but are not limited to child care, elder care, nursery school and more. The 2019 maximum annual contribution limit for a Dependent care FSA is $5,000. This plan is a smart, simple way to save money while taking care of your loved ones.
The FBA Difference
The Benefits Card is a convenient option to offer participants to reduce out-of-pocket costs.
Our IT Department has the ability to accept and process data through a multitude of methods.
Administration of FSA
FBA works hand-in-hand with your company to provide services your employees will come to depend on for years.
Our clients receive education and training sessions for employees and benefits staff.
You will have a dedicated Benefits Team to administer all account aspects for the duration of the contract.
FBA has partnered with FSAStore, the one-stop shop for all things FSA!
We provide customized communication materials to maximize participant opt in.
Our Secure File Transfer Protocol website and mobile application makes managing benefits easy!
What Our Clients Are Saying
“It's so much easier to use our Flex Spending since FBA started to work with us. We love the turnaround time for claims, the card is so easy to use and not having to validate every single card swipe has been AWESOME!”L. McKenzie
“You guys have been amazing from the get-go. I truly do appreciate all that you are doing to make business like ours succeed!”J. Bollen
“Thank you so much for all of your help, you and your team are amazing!”J. Corrigan
“I want to thank you so much for all the help you have extended to myself and my husband. It was so nice to work with someone who cares about doing their job correctly and about offering the best service they can to their clients. I wish you the best in all that comes your way.”T. Johnson
“I have so enjoyed working with you and completing this last step in the process. You represent the gold standard of customer service and it is profoundly appreciated.”J. Hunter
“You are the BEST to work with!””B. Snead
“The mobile app makes it so easy to manage my account and quickly view my balance, submit a claim, and review my history.”G. Fitzpatrick
“Great security features! I wish other financial institutions had services like these!”O. Castillo
“I cannot thank you enough for your time and especially, for making the drive to spend time with each of my employees. Your kind, generous attitude was most helpful when speaking about our new FSA/HSA vendor. I know employees appreciated being able to meet with you 1-on-1.”A. Stuart
“The transition of our benefit plans was seamless. We were able to communicate directly with our Benefits Team throughout the duration and never had to hassle going through a phone tree.”J. Haney