WEX Inc.

SEPTEMBER 7, 2023

Flexible spending accounts (FSAs) are a powerful tool for individuals and employers to save money on healthcare and dependent care expenses. Some individuals may be wary of reducing their take-home pay, especially if they are already on a tight budget.

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Benefit Resource Inc.

APRIL 18, 2023

One such way is by utilizing health savings accounts (HSAs) and flexible spending accounts (FSAs). Flexible Spending Accounts are designed to provide employees with an opportunity to set aside funds on a pre-tax basis to pay for eligible out-of-pocket medical expenses. What is an HSA? What is an FSA?

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InterWest Insurance Services

OCTOBER 27, 2022

Employees can save an average of 30% in federal, state and local taxes on items they already pay for out of pocket. Because these benefits are free from federal and state income taxes, an employee’s taxable income is reduced, which increases the percentage of their take-home pay.

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InterWest Insurance Services

MARCH 22, 2022

Flexible spending account. Besides the fact that your employees use money that hasn’t been taxed to pay for these benefits, the payroll deductions for them also reduce their taxable income while raising take-home pay. Flexible spending accounts.

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Flimp Communications

OCTOBER 30, 2024

HSAs Are Not the Same As FSAs Some of the confusion around HSAs may be rooted in their association with flexible spending accounts (FSAs). This message may resonate strongly during the weeks following April 15, when employees are researching strategies to reduce their tax burdens. But the similarities end there.

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Benefit Resource Inc.

NOVEMBER 19, 2019

One of the most common cafeteria plans is a flex account, or flexible spending account (FSA). It is not uncommon for an employer to offer a POP Plan and a Flexible Spending Account to employees at the same time. Finally, the last type of cafeteria plan is a Dependent Care flexible spending account.

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Empuls

JULY 11, 2023

They can range from health insurance coverage to retirement plans, flexible spending accounts, transportation benefits, education assistance, and more. By reducing the taxable portion of their income, employees can effectively increase their take-home pay. Connect with our employee perks and benefit experts.

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