Plan administration services for Insurance Premiums, Medical Reimbursement and Child Care. Claims are processed weekly, typically with a 5 day turn-around. Currently we have an FSA debit card which you can review by clicking on the logo link below.
The Internal Revenue Service Code (Section 125) allows you to pay for any of the following expenses with pre-tax dollars:
MEDICAL INSURANCE PREMIUMS
Employee paid/Payroll Deducted plans for:
Major Medical Expenses
Group Term Life (to 50K)
Supplemental Health Coverage
OUT-OF-POCKET MEDICAL EXPENSES
Expenses such as:
DEPENDENT/CHILD CARE EXPENSES
Expenses incurred for the care of a qualified dependent while a parent or care giver is working are eligible for payment through the Flexible Spending Account on a pre-tax basis. Day care expenses are allowed for physically or mentally handicapped individuals, or for the care of a dependent parent.
The amount of child/dependent care expenses reimbursed cannot be more than your annual income or your spouse’s annual income; whichever is lower. There is a $5,000 annual maximum for a single parent or married parent filing a joint return ($2,500 for married filing separately.)
Why Flexible Spending?
Flexible compensation provides attractive tax savings and improved benefits for you and your family. Reducing your tax bill may also reduce your Social Security benefits, but your Flexible Spending Account tax savings can more than outweigh your reduction and allow you some extra dollars to fund a quality retirement plan.
Section 125/Flex Administration
P: 972.687.1807 Option 1,1,4,1 – in Dallas, TX
P: 800.550.8009 Option 1,1,4,1 – outside of Dallas, TX