flexible spending account


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flexible spending account,

n an employee reimbursement account primarily funded with employee-designated salary reductions. Funds are reimbursed to the employee for health care (medical and/or dental), dependent care, and/or legal expenses and are considered a nontaxable benefit.
References in periodicals archive ?
Employees of the International Trade Commission are major flexible spending account users.
The money in Flexible Spending Accounts can be used to pay for out-of-pocket health costs a person, his/her spouse, and any eligible dependents including elderly parents or adult children up to age 26.
Health-related savings plans--like flexible spending accounts and health savings accounts--are offered at an employer's discretion and aren't required by law.
However, it is important to note that the smallest group surveyed showed the strongest interest in flexible spending accounts.
During the card's first year of use, Humana increased enrollment in its flexible spending accounts by 65%.
If you want to send your child to Set flexible spending account through employer to pay for dependent, day care.
However, Plan Advisor also features Health Savings Account (HSA), Flexible Spending Account (FSA) and transportation benefits.
Web-Based Proposals for Flexible Spending Account Services Are Latest Example of CONEXIS' Industry-Leading Benefits Administration Solutions
The survey also found that 35 percent of employees who have access to a flexible spending account (FSA), HSA, or major medical coverage say that none of these benefits had been thoroughly explained to them by their employer.
This new functionality allows the administrator to immediately open card use in a Flexible Spending Account (FSA) to all health related service types, once the subscriber has met the required deductible within the High Deductible Health Plan (HDHP).
Metavante Corporation today announced it is partnering with Longs Drugs to provide automated, electronic substantiation of over-the-counter flexible spending account (FSA)-eligible purchases for customers using Metavante's MBI Benefits Card(TM).
The State of Oklahoma's Employees Benefits Council received a Governor's Commendation for establishing a Flexible Spending Account debit card program for 35,000 active state employees.

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