Unleash tax savings with InComm’s Flexible Spending Account (FSA)

woman using her flex savings account for fsa spending

Discover the potential of InComm FSA, backed by over three decades of invaluable expertise. Our flexible spending accounts (FSAs) offer substantial tax savings for employer and employee benefits. FSA accounts allow employees to deduct a portion of their paychecks to use pre-tax dollars for healthcare and dependent care expenses without incurring Federal Income Tax, FICA, and most state taxes. InComm’s leadership in open-loop gift card production is a testament to our excellence, ensuring the best employer experience.

A Flexible Spending Account can save your employees, their spouse, and their qualifying children or relatives an average of 30 percent by using their pre-tax dollars for eligible FSA expenses.*

Help Your Employees Maximize Their Savings

  • Employees save taxes through FICA
  • Easily manage accounts using a mobile app, website, and debit card
  • Real-time notifications about account activity
  • We own our platform, have full control over enhancements, and focus on employee satisfaction

Making Spending Effortless

Employees and their dependents can easily spend their funds with industry-leading features such as:

One Card for All Accounts

Smart technology determines which account funds are pulled from while maintaining the simplicity of a single debit card with mobile wallet capability.

fsa card used in healthcare expenses

Modern Convenience

Contactless card and chip technology for secure and quick purchases.

Fast Processing

Quick claim approvals and reimbursement (avoid paper claim forms).

woman holding her flexible health savings account card and smiling at a laptop

How Do FSAs Work?

FSA cards work like debit or credit cards for eligible health care expenses. Employees can use the card at stores that accept FSA cards as payment for eligible items or at merchants like a doctor’s office or dental office for qualifying visits.

Employees can contribute up to a pre-determined contribution limit every plan year. This will come out of their regular payroll cycle. Employers can also contribute an annual amount. Plus – FSA funds typically expire at the end of the plan year, so unused account balances go back to the employer and do not usually carry over. Employers do not have to offer a high-deductible health plan to offer an FSA plan.

FSA cards help employees avoid paying out-of-pocket or submitting most paper claim forms. Set-up and management are simple through InComm’s employer portal. A comprehensive overview displays enrollment and contributions management. InComm FSA also provides dedicated support staff for FSA-related questions.

What Are the Different Types of FSAs?

Healthcare FSA
Dependent Care FSA
Limited Purpose FSA

Use for eligible medical expenses including:

  • Coinsurance and copays

  • Deductibles

  • Over-the-counter medicine and medical supplies

  • Prescription drugs

  • Qualified medical expenses (dental cleanings, doctor fees)

  • Vision care, eyeglasses, contacts

Pay for eligible expenses for parents who work full-time and must have care for a dependent child (under age 13) or adult while working including:

  • Child and adult daycare
  • Preschool
  • Summer day camp
  • Before-school and after-school care

LFSAs are a perfect complement to health savings accounts (HSAs). Provide more tax savings for employees with significant dental or vision expense.

  • Dental
  • Vision

Interested in learning more?

Contact us below or schedule a demo today!

Banking services are provided by Coastal Community Bank, member FDIC. The InComm HSA benefits card is issued by Coastal Community Bank pursuant to a license from Visa U.S.A. Inc. InComm spending accounts are FDIC insured up to $250,000 per depositor through Coastal Community Bank, Member FDIC.

Investment products are not insured by Coastal Community Bank, the FDIC, or any Federal Government Agency and may lose value. Privacy notice for Coastal Community Bank can be found here.

 

*“Health Care FSA.” FSAFEDS, www.fsafeds.com/explore/hcfsa. Sept. 2023.