Help your employees plan ahead for their health - and their budgets

Reduce insurance costs and add depth to your employee benefits with our Flexible Spending Account (FSA) solution. By taking advantage of this reimbursement account offering, you and your employees will both decrease your taxable income, while you enjoy the cost savings aligned with today’s tax favored FSA program.


What is an FSA?

An FSA is an employee benefit plan that allows people to pay for certain qualified expenses on a pre-tax basis, saving them money. Employers that provide robust healthcare options are more likely to retain top talent. Choose from three different types of FSAs that allow employees to save by using tax-free funds for the essentials in life:  

Health Care FSA

Help your employees fight the rising cost of health care by offering this account to pay for qualified medical expenses not paid by insurance.

Limited Purpose FSA

Under this plan, eligible expenses are limited to qualifying dental and vision expenses to the employee, their spouse, and eligible dependents.

Dependent Care FSA

This account allows your employees to be reimbursed for expenses paid to care for dependents so they are able to work, including daycare, summer camp, etc. This generally applies to children under age 13, or those of any age who are physically or mentally impaired.


Experience the difference with Lifetime Benefit Solutions

By partnering with LBS, you and your employees will enjoy:

  • An integrated platform allowing you to manage a comprehensive benefits package from one place, with one provider
  • Easy claims filing online with the system doing the legwork of determining approval based on eligibility and availability of funds
  • Significant tax savings with pretax deductible contributions and tax-free distributions used for qualified plan expenses
  • Automated scheduling of contributions based on your timing preference, allowing for easy mid-year enrollments (when applicable)
  • Access to account information at your fingertips through web-and mobile-based portals
  • A virtually paper-free administrative process with automated email alerts and monthly account summaries available online

Saving made simple

Reduce administrative burden by providing your employees with a way to manage their spending accounts without requiring your time. The LBS Health Spending Mobile App provides easy, secure access so your employees can conveniently monitor balances and track expenses on the go.

Get the LBS Health Spending Mobile App

Take the first step towards savings

Request a Quote

Additional Resources

Qualified Expenses

View the full list of qualified expenses to see what health products and services are eligible for reimbursement.

FSA Store

Access the FSA Store to see the selection of FSA eligible products and resources.

Download FSA Infosheet

Get more information about Flexible Spending Accounts and how they can benefit your employees with the FSA infosheet.


Note: LBS is not a law firm. This material is for informational purposes only and does not constitute legal or tax advice. State laws may vary with respect to FSA benefits. Please consult with your own legal counsel or tax advisor for the legal and/or tax requirements that may apply to you or your employees.

 

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