A Flexible Spending Account (FSA) is often the backbone of a company’s employee benefit plan. Why? FSAs are easy to set up, easy to use and they save money. Both employers and employees save on out-of-pocket costs for health care and dependent day care by using pre-tax dollars to pay for them.
Expenses like deductibles, co-insurance, co-pays, prescription drugs, eyeglasses, day care services and privately owned insurance policies can quickly add up. FSAs help your employees save on these expenses.
| Here’s how it works: |
- Employees set aside a portion of their salary before taxes are paid
- This money is automatically deducted from the paycheck and held in the employee’s FSA
- As expenses for qualified items are incurred, employees submit them to ProcessWorks via claims and receive reimbursement from their FSA
- Employers save money on payroll tax as a result of the FSA deductions
- How much money is saved depends on the number of employees participating in the FSA as well as the amount of their contributions
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| ProcessWorks Provides |
- Experienced People hard at work delivering exceptional service.
- Advanced Technology and dedicated employees put forth superior processing systems.
- Proven Processes are our core business and behind everything we do. Monitored daily for efficiency and accuracy, our processes receive any improvements needed to ensure total customer satisfaction.
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