Flexible Spending Account (FSA) for Employee Benefits
Unleash tax savings with the InComm Benefits Flexible Spending Account (FSA) for Employers
A Flexible Spending Account can save employees, their spouse and their qualifying children or relatives an average of 30% by using their pre-tax dollars for eligible FSA expenses.*
Help Employees Maximize Their Tax Savings
The InComm Benefits FSA is backed by over three decades of innovative payments expertise. Our flexible spending accounts (FSAs) offer substantial tax savings for employer and employee benefits. FSAs 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 Benefits offers the technology and industry experience to help ensure the best employer experience for FSA benefits.
Our Flexible Spending Accounts deliver valuable benefits, including:
- Tools to find health expenses that may be overlooked
- Reminder alerts for health-related travel expenses that are covered
- Savings on income and payroll taxes
- Easy management of accounts using our mobile app, website and debit card
- Real-time notifications about account activity
- Fast and efficient customer service
- Automated claim approvals
- Instant claim reimbursements
- Integrated claim submissions in the InComm Benefits app
Make Spending Effortless
Employees and their dependents can easily spend their FSA 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.
Modern Convenience
Contactless card and chip technology enables secure and quick purchases.
Fast Processing
Quick claim approvals and reimbursement help employees avoid paper claim forms.
How Do FSAs Work?
FSA cards work like debit cards for eligible health care expenses. Employees can use the card at stores that accept FSA cards as payment for eligible items or at care providers 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 Benefits’ employer portal. A comprehensive overview displays enrollment and contributions management. The InComm Benefits FSA also provides dedicated support staff for FSA-related questions.
What Are the Different Types of FSAs?
Healthcare 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
Dependent Care FSA
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
Limited Purpose FSA
LFSAs are a perfect complement to health savings accounts (HSAs). Provide more tax savings for employees needing:
- Dental
- Vision
*“Health Care FSA.” FSAFEDS, www.fsafeds.com/explore/hcfsa. Sept. 2023.