Winston Salem, North Carolina 336.725.4606

Flexible Spending Accounts (FSA)

A Flexible Spending Account, or FSA, provides way for your employees to cover their normal health care costs and get a tax break. The employee anticipates their health care and dependent care costs for the next plan year, and then sets aside a portion of their pretax salary in an account to cover those costs. The money is deducted from each paycheck over the course of the year. The amount contributed to the FSA is not subject to social security (FICA), federal, state or local income taxes—effectively adjusting the employee’s annual taxable salary. As a result of the personal tax savings incurred, the employee’s spendable income will increase.

If a Flexible Spending Account is something that you feel would be a good option for your company, call us at 336-725-4606 or email us to arrange a free face-to-face, one-on-one consultation on the advantages for you and your employees.