Flexible Spending Account (FSA)
Health care costs areon the rise.
A Flexible Spending Account (FSA) is a smart way to help your employees save for medical expenses not covered by insurance that they may encounter throughout the year. An FSA allows your employees to save more money by contributing pre-tax dollars, which means they pay less income taxes overall. The funds can be used throughout the year on qualified medical, dental, vision or qualified dependent care expenses to help reduce out-of-pocket costs.
An FSA is a good complement to a robust benefits package to attract and retain top talent
FSAs reduce the taxable income for employees, contributing to their financial security
An FSA creates peace of mind for the employee, knowing they have a cushion for any medical expenses that may arise
Basic Plan Features
Funds deducted on pre-tax basis
Benefits run on a calendar year
Employee pays with Discover Benefits debit card for qualified expenses, or employee pays out of pocket and requests reimbursement
Additional Benefits Support
Employee benefits communication & education
Annual Rate Review
Open enrollment administration
Research employee benefits questions
Employee eligibility, change tracking & processing
Annual benefit comparison
Benefit plan premium reconciliation & payment
