FSA – Section 125

Pontrelli, Timour & Associates Flexible Spending Accounts (FSA) or Section 125 Plan

A Flexible Spending Account (FSA) or Section 125 Plan allows your employees to pay for their health benefits on a pre-tax basis. Pontrelli, Timour & Associates believe in providing our clients with all of the available group benefit plan options across the board. With an FSA or Section 125 Plan, employees increase their take home pay, while employers reduce their tax costs. Flexible Spending Account (FSA) GROUP Benefits Administration provides an easy-to-use strategy for your employees to contribute pre-tax dollars toward their health and welfare. At the same time, instituting a Flexible Spending Account can lead to real savings for your company.

Extending pre-tax benefits to both employees and employers, Flexible Spending Accounts have become very popular. By allowing employees to accumulate pre-tax dollars to pay for out-of-pocket medical and child care expenses, a Section 125 Plan offers both flexibility and a greater sense of control. In addition, FSAs deliver significant savings and value for a company on both sides of the employer-employee coin. Pontrelli, Timour & Associates welcomes the opportunity to further discuss these options with you.

With A Flexible Savings Account and Section 125 Plan —

Your employees receive:

  • Tax savings by setting aside pre-tax dollars to pay for qualified medical or childcare expenses
  • Reimbursement checks or direct deposit of payments with payment explanation, and year-to-date Flexible Spending Account summary

Your organization receives:

  • FICA tax savings for Flexible Spending Account (FSA) contributions
  • Claims processing and distribution of spending account payments
  • Management reports and analytics
  • Basic non-discrimination testing, conforming to IRS regulations
  • Expert handling of complex Flexible Spending Account (FSA) issues and requirements

Flexible Spending Accounts (FSAs) are an increasingly popular way for employers to empower their employees when it comes to questions of health and welfare benefits. The FSA processes of Pontrelli, Timour & Associates are best practices focused, following all ERISA and IRS requirements in order to keep all plans in compliance with federal regulations. If you want to know more about Flexible Spending Accounts (FSAs) and Section 125 Plans, please contact Pontrelli, Timour & Associates for a free consultation.