Flexible Spending Account: A Quality Employee Benefit from PEP
Along with our many other quality services, PEP can also help you with flexible spending accounts, also known as FSAs. Flexible spending accounts are an employee benefit that sets aside pretax money for certain health care and dependent care expenses. This allows your employees to keep more of their money and also to lead a less stressful life, since they won’t have to worry as much about such expenses.
HCFSA’s, LEX HCFSA’s, AND DCFSA’s: How PEP Can Help You with All Three
Flexible spending accounts come in three categories: Health Care FSA (HCFSA), Limited Expense Health Care FSA (LEX HCFSA), and Dependent Care FSA (DCFSA). Often called a general purpose HCFSA, a Health Care FSA provides for expenses that aren’t covered under standard health insurance, including over-the-counter medicines and co-payments. A Limited Expense Health Care FSA is used in lieu of a HCFSA if the employee is enrolled in a certain health care account. The Dependent Care FSA, as the name implies, provides for any dependents, including spouses and children. As with all programs, certain restrictions apply, and PEP can help you decide which plan is best for you and your employees.
Even if you don’t know how to implement these FSAs, PEP is here to help by providing the knowledge and advice you need to give your employees with the high quality benefits that they deserve.
Click Here to request a proposal online or call 1-800-650-3002.
