A flexible spending account (FSA) allows employees to set aside pre-tax money from their paychecks to pay for everyday healthcare costs including medical, dental, vision and prescription expenses. Participating in an FSA decreases the employee’s taxable income, and in
turn, decreases the employer’s costly FICA tax burden.
turn, decreases the employer’s costly FICA tax burden.
Why would employees want an FSA?
Save on Eligible Expenses
Employees can save up to 40% on thousands of eligible everyday expenses.
Keep More Money
Every dollar an employee contributes to an FSA lowers their taxable income.
Every dollar an employee contributes to an FSA lowers their taxable income.
Easy Spending and Account Management
Employees will receive an Ameriflex Debit Mastercard® linked to their FSA and can use it everywhere Mastercard® is accepted.
Employees will receive an Ameriflex Debit Mastercard® linked to their FSA and can use it everywhere Mastercard® is accepted.
This scenario assumes the following:
- Number of Eligible Employees: 50
- Average Salary Per Employee: $50,000/year
- Average Premium Paid Per Employee: $900/year
- Average FSA Contribution: $2,000/year
- Percent Expected to Enroll in FSA: 20%
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