Product Highlight: Flexible Spending Account (FSA)

The Lead Summer 2015 - Lifetime Benefit Solutions

Product Highlight: Flexible Spending Account (FSA)

Flexible Spending Account (FSA)When employers choose to contribute to an FSA when electing a benefit plan, a deduction is automatically withheld from the paycheck, and set aside for qualified medical or dependent care expenses. Employees save money by using tax-free funds to pay out-of-pocket medical, dental, vision and dependent care expenses.

Lifetime Benefit Solutions offers two types of FSA accounts:

1.Health Care: This popular account can be used to pay for qualified medical expenses not paid by insurance. Copayments, deductibles and coinsurance, as well as dental services, prescription drugs and vision services are all examples of qualified services.

2.Dependent Care: Employees can be reimbursed for expenses paid for the care of dependents so they can work. Eligible expenses include daycare centers, babysitters, caregivers and after-school programs.

 

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Lifetime Benefit Solutions is a national leader in developing and delivering health-related benefits plans – partnering with our customers to deliver value and promote employee health and wellness.

Flexible employee benefit programs, intelligently and creatively customized to your company’s unique situation.