Why a Flexible Spending Account?
A Flexible Spending Account can help reduce your taxes and increase your take-home pay—giving you those extra dollars for the things you really want. On average, people save 23% in taxes (assuming Federal, state and social security taxes) by paying their out-of-pocket expenses on a pre-tax basis through an FSA. Advocated by financial planner and tax advisors, an FSA can put you closer to those extra perks—like vacations—that you don’t always budget for. And for many employees, a PayFlex Card® makes using your account as simple as swiping a debit card.
Our Healthcare FSA allows you to pay for qualified medical expenses using pre-tax dollars. These may include medical, dental, vision, hearing, over-the-counter items and other costs such as co-pays. Because you’re paying for these expenses before taxes are taken out of your paycheck, you’ll save significantly by the end of the year. This means more money that you can use for anything you like!
Dependent Day Care FSA
The Dependent Day Care FSA allows you to pay for dependent day care expenses using pre-tax dollars, reimbursing you for these expenses so you and your spouse can work. Qualified expenses include day care, before-and-after school programs, nursery or preschool, summer day camp, even adult day care. It’s an easy way to manage your day care needs while giving you extra tax savings to enjoy the things you like.
Limited Purpose FSA
A HealthHub® Limited Purpose Flexible Spending Account (LPFSA) is an FSA that only reimburses you for eligible vision and dental expenses. It’s available to employees who are enrolled in a High Deductible Health Plan as well as a Health Savings Accounts (HSA). A LPFSA lets you save money on taxes by using this account for ongoing vision and dental expenses, while preserving your HSA funds for other purposes, including simply saving them. It’s smart, convenient and gives you a real boost in spending power.
Service and support behind every account
HealthHub® provides proactive FSA services to employer client ranging in size from two employees to more than 250,000. Here are a few of our service capabilities:
- PayFlex Card® for healthcare expenses
- Dedicated employee call center
- 24/7 toll-free IVR phone system
- Online account management tools
- Online enrollment
- Online claim submission tool
- e-Notify™ email notifications for participants
- Employee communications and educational tools
- Online access to products via the HealthHub® Consumer Center