Skip to main content

Flexible spending account solutions that help employees save for health care costs.

Flexible Spending Account - Senior Couple Planning Their Investments with a Financial Advisor from the Comfort of Their Home While Sitting on the Sofa of Their Living Room

Home » Life and Health Insurance » Flexible Spending Account

Enhance your employee benefits package with a flexible spending account.

Help employees avoid financial issues when seeking health care.

Flexible spending accounts offer employees an easy way to set money aside on a tax-free basis to help them cover the cost of certain out-of-pocket healthcare expenses.

Money is put aside for the costs of health care only.

A flexible spending account, otherwise known as an FSA, is a way for employees (and employers if they choose) to put money aside specifically to pay for these out-of-pocket medical expenses. This isn’t a typical investment, as the money doesn’t grow, but it can be an effective way of managing money for a specific purpose.

  What expenses can be paid for by a FSA?

Out-of-pocket medical expenses such as deductibles, copays, prescription drugs, and medical devices.

  Can employees use FSA funds for their family?

Employees may use their flexible spending account funds to help pay for the health care costs for themselves, their spouse, their children, and their dependents.

Flexible spending accounts are not taxable.

The other big advantage is that money put into the flexible spending account isn’t taxable. This results in a reduction in the payroll taxes paid both by the employing business and the employees. Employees choose how much money to add to their FSA up to a limit set by the employer, and this money is not taxed.

When are contributions made available to employees?

It’s important to note that any contribution from the employer is payable as a lump sum at the start of the year, and will be available to the employees even if the employee leaves the job. The employee pays their contributions to the FSA over the year in regular installments.

Do you think a flexible spending account (FSA) might help your employees cover out-of-pocket medical expenses? If so, contact us to get started.

Find Your Coverage

We’re here to help you explore your coverage options.

Request Quote

Let’s Get Started

  1. Step 1Fill out the form.
  2. Step 2Review your options with us.
  3. Step 3Get the coverage you need.

Flexible Spending Account Quote Request

"*" indicates required fields

Please do not include sensitive, private information in this area.
This field is for validation purposes and should be left unchanged.

Don’t like forms? Contact us at 847-264-4644.

Skip to content