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Flexible Spending Account (FSA)

Set bated tax-free money for health expenses

Overview & Eligibility

Employees who enroll in a flexible spending account (FSA) can experience tax savings on eligible expenses such as copays, deductibles, prescriptions, over-the-counter medicine, and thousands of other health items. Generally speaking, a wellness FSA should be offered only to employees who are also eligible to participate in the employer'southward major medical plan.

Employers with a major medical or group health plan tin offer an FSA to their employees. Information technology'southward also of import to note that, dissimilar wellness savings accounts, employers are non required to offer a high deductible health plan (HDHP) in order to offer an FSA.

For an in-depth look at FSAs, check out our Ultimate FSA Guide

2022 Contribution Limit:

$ii,850

This is the maximum amount that can be contributed to an FSA each yr per the IRS.

The Value for Employees

Save on Eligible Expenses

Employees tin save up to 40% on thousands of eligible everyday expenses such as prescriptions, doc's visits, dental services, spectacles, over-the-counter medicines, and copays.

Keep More Money

Continue More Coin

Every dollar an employee contributes to an FSA lowers their taxable income. Let's say an employee earns $40,000 a twelvemonth and contributes $1,500 to an FSA. That means only $38,500 of their income gets taxed.

Easy Spending and Account Management

Employees will receive an Ameriflex Debit Mastercard® linked to their FSA. Employees can use their card for eligible purchases everywhere Mastercard® is accepted. Account data can exist securely accessed 24/vii online and through the mobile app.

The Value for Employers

Cost Savings

Since contributions to FSAs are taken out pre-tax, no payroll taxes are due on the amounts employees contribute to the FSA.

Employee Engagement

Well-nigh one-fourth of U.South. adults say they take problems paying medical bills. Helping employees save money on their everyday medical expenses can aid in employee retention and recruitment.

Expert Support

Healthcare is complicated. The Ameriflex Client Human relationship Team is eager to answer questions and provide assist. Our Net Promoter Score (NPS) far exceeds the healthcare average.

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