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FSA | HRA | HSA Administration

Flexible Spending Accounts (FSA)

A Flexible Spending Account (FSA) is a tax-advantage financial account that is set up by the employer. An FSA allows an employee to set aside a portion of earnings to pay for qualified medical, dental and vision expenses for both the employee and their dependents. Money deducted from employees' paychecks is not subject to taxes, resulting in substantial tax savings.

With an FSA, Businesses Receive
FSA FICA tax savings for FSA
FSA Seamless automated payroll deductions
FSA Daily claims processing and distribution of spending account payments
FSA Web access to FSA plan participant information
FSA Management reports
FSA Expert handling of complex FSA issues and requirements

Health Reimbursement Account (HRA)

A Health Reimbursement Account (HRA) is a federally authorized tax-favored funding program that creates a long-term solution for employers to save money on healthcare costs. Employers use the savings from lower premiums to reimburse employees for part of their healthcare expenses, typically a portion of their deductible.

With an HRA, Businesses Can
HRA Significantly reduce health insurance premiums
HRA Create tax deductions
HRA Improve cash flow
HRA Meet employee coverage needs
HRA Achieve company benefit goals

Health Saving Account (HSA)

High-deductible health plans (HDHP) typically offer lower monthly premiums than traditional health plans. With an HSA-qualified HDHP, the employee can take the money saved on premiums and invest in the HSA. Although the employee is responsible for the initial healthcare costs until the deductible is met, money saved on premiums is ready and waiting to pay for qualified medical expenses. In addition, HDHPs generally provide 100% coverage for preventive care services, such as routine doctors visits and annual physicals.

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