With the high out-of-pocket costs of your new health plan, it’s time for your employees to consider enrolling in an FSA.
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.
The current maximum limit is $2,700 for medical and $5,000 for childcare. The IRS has not yet published a new maximum limit for 2020.
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, download a PDF of frequently asked questions.
Savings for the Employer and Employee. Please contact John Nacol at 707-525-4370 or email@example.com.