FSAs are an easy way to help attract and delight quality employees!
FSAs are an important part of a comprehensive employee benefits offering in recruiting and retaining employees. Your employees will appreciate the ability to use pretax dollars to fund eligible health care related expenses not covered by a health plans.
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Establishing an FSA will help you save payroll and FICA tax savings, write off administrative costs as a normal business expense and help your workforce save money. Despite the benefits of an FSA, there’s a good amount of record keeping involved in its administration. It takes a lot of staff a lot of time to review submitted, paid and denied claims, issue reimbursements and perform necessary discrimination testing.
Highlighted benefits of FSA Administration
- Dedicated account manager
- Section 125 Cafeteria Plan documents
- Online employee enrollment
- Online nondiscrimination test
- Debit cards
- Online reimbursement request form
- Two-day claim review
- Online employer reports
- Client and participant website and call center support
- Certified Flexible Compensation (CFC) experts on staff
- Direct deposit
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Looking to learn a little more about isolved and how it can totally revolutionize your approach to HR? Contact us and we’ll get you in touch with one of our CTR specialists to help you discover how isolved can answer all your questions.