Helpful Downloads and Links
FSA Member materials - For even more information about our FSAs.
FSA Essential Guide - This guide provides a comprehensive overview of FSAs for your employees.
Product Comparison Chart - This chart explains the differences among multiple health spending account options.
Cadillac Tax Calculator - In 2020, the Affordable Care Act will start taxing health plans that have premiums and HSA/HRA/FSA account contribution exceeding certain limits. Use this calculator to see if it will affect your health insurance plan.
FSA Plan Design Guide - This form is required to set up an FSA.
FSA Direct Plan Design Guide - This form is required to set up a direct FSA.
Frequently Asked Questions
- What is an FSA and how does it work?
- An FSA is an employer-sponsored spending account that allows employees to set aside pretax earnings to pay for eligible health care or dependent care expenses. Pretax funds are deducted from each paycheck and automatically deposited into an FSA account. Employees decide how much to contribute, tax-free, for the year.
- What are the benefits of an FSA to employees?
- Pretax contributions lower taxable income, and reimbursements are made tax-free from the employee’s account. In addition, an employee has access to the entire elected amount on the first day of the plan year.
- What is the main difference between an FSA and an HSA?
- With both an HSA and a FSA, account holders make tax-deductible contributions. HSAs are individually owned while FSAs are part of the employer’s cafeteria plan. Employers, family members and any other individuals can contribute to an HSA account. An FSA must be funded exclusively through employer contributions or employee pre-tax contributions. HSA balances continue forward until spent and an employee can take the account with them should they leave the company or retire. With an FSA, funds remaining at the end of the plan year are forfeited to the employer.
- Is a debit card available?
- Yes. A Visa® debit card is available for eligible medical expenses, and can be used at the point of purchase or after care.
- How is an FSA funded?
- Employees make pretax contributions through automatic payroll deductions. Employers can also decide to contribute, up to a maximum amount.
- When is participant enrollment information due?
- Enrollment information is due to Further 30 days prior to your renewal effective date.