Flexible Spending Account

Tools that help your employees manage their benefits.

Home » Employee Benefits » Flexible Spending Account

Flexible spending accounts throughout Tennessee including Morristown, TN, Knoxville, TN, Bristol, TN, Johnson City, TN, and Kingsport, TN.

Healthcare can get expensive. We can enhance your employee benefits package with a Flexible Spending Account that helps your employees save money on everyday healthcare expenses.

While typical healthcare insurance can be very effective for many of your business’ employees, out-of-pocket medical expenses, such as deductibles and co-payments or dental charges, can still present serious financial challenges. In turn, that increases the risk of employees not seeking necessary treatment. This could lead to the potential worsening of health problems, which could leave some employees unable to work.

A flexible spending account (otherwise known as an FSA) is a way for employees (and employers if they chose) to put money aside specifically to pay for these out-of-pocket medical expenses.

This isn’t a typical investment, as the money doesn’t grow, but it is an effective way of managing money for a specific purpose.

The other big advantage is that money put in to the flexible spending account (FSA) isn’t taxable. This results in a reduction in the payroll taxes paid both by the employing business and the employees.

It’s important to note that any contribution from the employer is payable as a lump sum at the start of the year, and will be available to the employees even if the employee leaves the job. The employee pays their contributions to the flexible spending account (FSA) over the year in regular installments.

Do you think a flexible spending account (FSA) might help your employees cover out-of-pocket medical expenses? If so, contact our employee benefits team to get started.

Flexible Spending Account Proposal Request

As an independent agency, we offer multiple options at competitive prices.

Featured Articles
Team-with-Sticky-Notes

5 Ways to Cope With Pandemic Re-entry Anxiety – Infographic

| Employee Benefits | No Comments
With the COVID-19 vaccine becoming much more widely available across the country, the topic of returning to in-person work, school…

Telehealth on the Rise

| Employee Benefits | No Comments
During COVID-19, telehealth has become one of the safest and most available sources of medical and mental health care. The…

Stop the Spread: Employee Awareness and Education Tools

| Employee Benefits | No Comments
The term "social distancing" is new to our culture, as is this new way of life we are all experiencing…
Start Proposal Request