Healthcare Flexible Spending Account Administration (FSA)
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1.
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Allows employees and eligible dependents to pay out-of-pocket healthcare costs
tax free
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2.
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Out-of-pocket healthcare cost include medical, dental, vision, hearing and
prescriptions not reimbursed by insurance
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3.
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All employees including those who do not participate in the company medical,
dental, vision plans are eligible.
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4.
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Debit card available for instant claim reimbursement
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5.
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Non-debit card claims processed weekly and paid by direct deposit or check to
the employee participant
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6.
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Account is generally funded by the employee only but the employer may also make
contributions
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7.
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Unused balances at the end of the year cannot be rolled over to the next year
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8.
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Employers and employees both save taxes
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