Flexible Spending

FLEXIBLE SPENDING

The awareness of Section 125 Flexible Spending Plans is continually increasing. In 1978, Congress enacted Section 125. Section 125 flexible spending allows employees to set aside their own money in order to pay for medical premiums, out-of-pocket expenses and dependent care expenses on a pretax basis. This turns into incredible tax savings opportunities for employees, which in turn increases their take-home pay without costing their employer more money. In almost all cases tax savings are well over the amount of dollars paid in administrative costs.

A comprehensive, efficient and innovative service, AccBen’s FSA solution maintains plan compliance, manages employee spending accounts, and most importantly saves our client’s money.

Flexible Spending Accounts can be structured to include a variety of benefits:
Premium for family health insurance benefits
Qualified medical expenses for employees and their families
Dependent day care expenses
Term Life and Disability Insurance Premiums
Transportation Expenses including: transit passes, commuter highway vehicles, and qualified parking

Employers are able to realize the benefits of:
Reducing Payroll Costs
Controlling Benefit/Premium Costs
Addressing the Needs of a Diverse Workforce
Recruiting and Retaining Quality Employees

Both Employers and employees receive the following benefits with AccBen’s solution:
Reduced Social Security Contributions
Controlled Medical Costs
Daily Reimbursement Request Processing
Web, Fax or Paper Reimbursement Submission Options
Direct Deposit Option
Convenient Claim Card Option
Mirror-Imaging of Payroll
ACH Electronic Transfer of Payroll Funds
Floating of Uniform Coverage Dollars (Unique to TASC)
Full Web Services
Manage enrollment
Check payment history
View and modify Participant information
Manage payroll verification data on-line
Claim Submission
Account Review
E-Pay Electronic ACH Invoice Payment System
Claim Adjudication
Plan Document and Summary Plan Descriptions
Compliance Services
Plan Design Consultation and Review
Section 125 Plan Document
Non-Discrimination Testing
Summary Plan Descriptions
Form 5500 Preparation
Audit Guarantee
Employee Assistance
Enrollment Support
Audit Guarantee
Option to Enroll Online

Please contact us to learn more.