Other Benefit Plans

Adoption Assistance Programs

Adoption Assistance Programs are designed to help adoptive parents meet costly needs. Reasonable and necessary adoption fees, court fees and other expenses can be reimbursed under an FSA program. In 2019, if you have more than $14,080 in qualified adoption assistance expenses you may be able to be reimbursed up to the FSA dollar limit established by your employer’s Cafeteria Plan to utilize the tax credit for additional expenses incurred.

Education Reimbursement Accounts

One of the most generous benefits a company can offer is an Education Reimbursement Account. This benefit program is a contractual agreement between employer and employee that outlines specific terms under which the employer may pay for the employee’s continued education. This benefit program varies greatly from company to company. Those who choose to participate in this program pay for out-of-pocket costs for the courses they enroll in. When the course is over, the employee may be reimbursed in full or part for tuition expenses. Depending on the employer, conditions for reimbursement may apply.

Premium Only Plans

Premium Only Plans (POPs) are the building blocks of the Section 125 plan. These plans allow employees to pay their health insurance premiums with tax-free dollars and save up to 40 percent on federal income taxes alone.  This plan is a great solution to companies who want to offer tax benefits to eligible employees but who do not want to invest into a full pre-tax benefit plan. Examples of premiums that can be deducted from the employees’ paychecks on a pre-tax basis include but are not limited to health insurance, dental insurance, vision insurance, disability insurance, cancer insurance and many more.

Simple Cafeteria Plans

Under the Healthcare Reform package, eligible small employers are now able to establish a new type of cafeteria plan known as the Simple Cafeteria Plan. This new plan is an employer-sponsored plan which gives employees the option to select benefits or cash. For example, employees can choose tax-free benefit plans to fit their needs, or may instead elect to receive taxable cash payments in lieu of unselected benefits. Compliance with cafeteria plan discrimination rules have been problematic for many employers in the past. Simple Cafeteria Plans eliminate problems by providing safe-harbor plan designs that ensure compliance with non-discrimination rules.

Testimonials

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“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
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