On behalf of myself and all the staff at Redwood Health Services, we’d like to express our best wishes for a Happy Holiday season and our sincere thanks for your loyalty and goodwill throughout the year.
As the year’s end approaches and you’re deep into the holidays, we’d like to remind you to finalize your FSA spending decisions if you haven’t done so already.
Employer-sponsored flexible spending accounts (FSAs) are benefit plan arrangements that allow employees to pay for certain health care or dependent care expenses on a pre-tax basis. It can be offered alone or in conjunction with a major medical plan.
For 2020, the IRS has set a maximum limit of $2,750 for medical and $5,000 for child care.
Flexible spending accounts offer significant tax advantages. FICA tax liability and the ACA medical plans have employees facing much higher deductibles, copays, and coinsurance payments. Our FSA can reduce the strain of these costs with pre-tax savings.
To learn more about FSA’s, read or download a PDF of frequently asked questions.
Savings for the Employer and Employee. Please contact John Nacol at 707-525-4370 or jnacol@rhs.org.