What is a Flexible Spending Account?
A flexible spending account (FSA) is a benefit you sponsor for your employees. A flexible spending account lets your employees set aside pre-tax dollars to pay for eligible expenses like healthcare and/or dependent care, depending on plan type.
Cafeteria Plans and/or Flexible Spending Accounts
Federal tax law allows employees to lower their tax burden by paying insurance premiums, unreimbursed medical, dental and vision expenses, and child and dependent care with before-tax dollars. Using these Flexible Spending Accounts and/or Premium-Conversion Plans, a Company can tailor a plan to meet its needs. As an administrator of these plans, RPG can advise which options are best for your company. Once a client finalizes the company’s plan details, RPG will draft the plan document and customized communications materials to be distributed to employees at meetings. RPG will organize and provide all on going Plan administration including, but not limited to, the review and payment of claims via our web-based claims processing system with the ability to provide reimbursement by direct deposit. These plans offer benefits to Employers including higher employee retention rates and lower FICA and Medicare employer contributions.
Cafeteria Plans allow employees to lower their tax burden by paying insurance premiums, unreimbursed medical, dental and vision expenses, and child and dependent care with before-tax dollars.
This section is for those who are currently enrolled or are interested in participating in an FSA or HRA Plan.