Flexible Spending Accounts (FSA)
Sometimes referred to as reimbursement accounts, FSAs let you take money from your paycheck before it is taxed to pay for eligible healthcare and dependent day care expenses. Funds put into the plan avoid Federal Income Tax, FICA and most state taxes, creating a tax savings for both the employee and the employer.
Kushner & Company offers three types of Flexible Spending Accounts:
- Health Care Flexible Spending Account, used to pay for eligible unreimbursed medical, dental, and vision expenses.
- Dependent Care Flexible Spending Account, used to pay for eligible dependent day care expenses for tax dependents.
- Limited Health Care Flexible Spending Account, used to pay for eligible dental, vision, and unreimbursed preventive care benefits. This type of Account is typically used in conjunction with a High Deductible Health Plan (HDHP) and a Health Savings Account (HSA).
All three types of FSAs offer employees significant savings and simplicity:
- Up to 40% tax savings on health care and dependent day care expenses
- Personalized customer service
- Benefit card that makes using the Accounts virtually effortless
- Mobile app and participant web portal for anytime, anywhere Account access
For employers, ease, compliance, and resources:
- Easy to understand plan designs
- Reports on all plan activity
- Technology that ensures security and easy information access
- Our Compliance Team keeps you current on legislative and regulatory changes to your plan