Flexible Spending Account (FSA)
When members choose to contribute to an FSA when electing their benefit plan, the deduction is automatically withheld from their paycheck, and set aside for them to use for qualified medical or dependent care expenses. This means that members save money by using tax-free funds to pay out-of-pocket medical, dental, vision and dependent care expenses.
Health Reimbursement Account (HRA)
Coupled with your medical plan, an HRA can help you combat the rising cost of health care. An HRA is an employer-funded, tax-sheltered account to reimburse employees for allowable medical expenses. Established under Internal Revenue Code Section 105, this employee benefit plan allows members to pay for certain out-of-pocket health care expenses while you remain in control of how the dollars are spent.
Health Savings Account (HSA)
As health care costs continue to soar, finding ways to offer affordable health benefits to your clients is a challenge. An HSA solution from Lifetime Benefit Solutions can give your clients more spending money per paycheck while they save money on out-of-pocket health care expenses.
Qualified Transportation Benefit (QTB)
A (QTB) is an employee benefit plan that allows members to pay for commuting expenses with pre-tax dollars.