Flexible Spending Accounts (FSA)
A Flexible Spending Account (FSA) is an employer‐sponsored benefit plan that allows employees to deduct money from their pay on a pre-tax basis. By offering an FSA, the employer saves payroll taxes and the employee saves FICA, Federal and State taxes.
How it works
With an Infinisource Flexible Spending Account, you’ll be freed from tedious recordkeeping. Infinisource Benefit Services will guide you through plan design options and provide up to date plan documents. Once you select one of our simple and secure submission formats, you’ll supply a list of participants and their annual elections. Infinisource will provide welcome documents; a comprehensive resource center and a Participant Support Center to help your participants get started with their Health and Dependent Care FSAs. Infinisource takes care of all of your documentation and recordkeeping needs and provides you with detailed reports–all while protected the tax-preferred status of your benefit!
We keep you abreast of continual changes to FSA law so you can avoid potential pitfalls and liabilities while offering your employees the benefits these programs provide.
An Infinisource FSA includes:
- Online Resource Center for Participants and Employers
- Web and call center support
- Website access for claims and balances
- iFlex Mobile app
- Proactive customer service maximizes employee benefit
- Debit cards
- Quick reimbursement of out-of-pocket expenses
- Full reporting capability for employer
- Plan design assistance
- Over 7,500,000 claims processed for over 2,000 customers
- Summary Plan Description
- Online employee enrollment
- Online employer reports
- Online nondiscrimination test
- Direct deposit
- Two-day claim review
- Daily reimbursements
Plan types include:
- Health Care FSA
- Limited Purpose FSA (in conjunction with a HSA)
- Dependent Care FSA
