Flexible Spending Account (FSA)

An FSA with Advanced Benefits Management allows an employee to set aside a portion of their earnings to pay for qualified expenses, most commonly for medical expenses but FSAs can be designed for dependent care or other expenses. Employees will see a significant tax savings as the account is funded with pre-tax dollars from their paycheck.
By taking our funds pre-tax from their paycheck, employees will also end up with a lower taxable amount and as a result, pay fewer taxes.
The two types of accounts that are available are:

• Medical Spending Account - pays for medical expenses not covered by insurance
• Dependent Care Spending Account- pays for dependent care for children and/or a disabled dependent so you and your spouse can work or be full-time students

Some of the benefits of an FSA with Advanced Benefits Management include:

• Increases employee satisfaction by providing quick and accurate claims reimbursement
• Real people ready to answer questions. You will not have to go through 15 layers of an automated menu on the phone to talk to us.
• An increased participation level with easy to use debit cards and online enrollment tools.
• 24-hour access for employees to monitor their account  online
• The entire funds are available to the employee on either the first day of the plan year, or the first time they make a contribution into the plan