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Many working Americans have access to a Section 125 Cafeteria Plan at some point during their working career, yet many do not take full advantage of them. When utilized correctly, a cafeteria plan can increase take-home-pay without any change in expenditures.
In this article, we kick legal jargon to the curb and dive into three areas to provide a high level guide to understanding this plan. One of the most common cafeteria plans is a flex account, or flexiblespending account (FSA). Finally, the last type of cafeteria plan is a Dependent Care flexiblespending account.
In this article, we kick legal jargon to the curb and dive into three areas to provide a high level guide to understanding this plan. One of the most common cafeteria plans is a flex account, or flexiblespending account (FSA). Finally, the last type of cafeteria plan is a Dependent Care flexiblespending account.
In this article, we’ll look at: The benefits most businesses offer. Tax-preferred plans: Health flexiblespending accounts, health savings accounts, health reimbursement accounts, transportation accounts, and more. This can help employees see things they may not consider when they think of just take-homepay.
HSAs Are Not the Same As FSAs Some of the confusion around HSAs may be rooted in their association with flexiblespending accounts (FSAs). Building an HSA Communications Strategy In this article, we’ve covered six essential HSA benefits to share with your company’s employees. But the similarities end there.
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