Benefits Buzz

How Much Can You Save with an FSA?

Posted on April 2nd, 2013

As tax season comes to a close, you might be wondering how to save more next year. Flexible Spending Accounts (FSAs) are a great tool that allows you and your employees to save on healthcare and dependent care expenses. Celebrating 25 years as a trusted benefits administrator, we have done the math to help you visualize your potential savings with our FlexFSA® product:

For example, with 25 participating employees and an average employee contribution of $1000 -- you would have a tax savings of $1,913 and your employees could save a combined total of $6,250!* Download our updated FSA Savings Sheet to view more examples.

With FlexFSA® you will also save time and energy with:

  • Faster reimbursement of eligible expenses with daily/weekly frequency options
  • Easier access to funds with debit cards, CrossTech® and direct deposit
  • Secure web portal with online claim submissions, real time account information, flexible reporting options and more

Contact your broker/consultant or Flexible Benefit Service LLC (Flex) at 866-472-0882 to learn more. Or, request a custom proposal to get started >>

*The example illustrates tax savings on FSA elections of 7.65% for the employer and 25% for employees. Actual savings for employees will vary based on tax bracket.

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