E B I Financial Services
E B I  Financial Services

Flexible Spending Accounts

A Flexible Spending Account (FSA) is an IRS Code Section 125 Cafeteria Plan. Through it, Participants set aside funds on a pre-tax basis each year into their FlexSystem account(s), and subsequently access those funds for qualifying healthcare and/or dependent care expenses incurred within the Plan Year.

Why offer an FSA?
Offering an FSA as part of an employee benefits program provides valuable benefits to both employers and their eligible employees

Employer Benefits
  • Reduces payroll taxes (Social Security and Medicare): for every dollar of employee contribution into the FSA Plan, employers save 7.65% FICA taxes.
  • Saves on the cost of administration: the tax savings gained often covers the entire cost of Plan administration.
  • Enhances the employee benefits package: helps attract and retain motivated employees.
  • Boosts employee satisfaction.
   Employee Benefits
  • Reduces income tax (Federal, State, and FICA): pre-  tax payroll contributions result in a lower taxable salary.
  • Saves on the cost of eligible healthcare and/or dependent care expenses: using pre-tax dollars spells out a savings of nearly thirty percent.
  • Offers immediate access to elected healthcare FSA funds.
  • Covers common types of expenses: medical, dental, ortho, vision, prescription drugs, day care, and more.

Why choose FlexSystem?
FlexSystem takes the administrative burden out of offering a reimbursement program. We manage all aspects of administration and work closely with employers to ensure complete satisfaction, including seamless implementation, accurate ongoing administration, and dependable compliance. 

Employers and employees alike enjoy unrivaled services and innovations with our FlexSystem Plans:

For Employers
  • MyService Center
  • Claim ConneX technology
  • Competitive fees
  • Floats uniform coverage dollars
  • Audit Guarantee
   For Employees/Participants
  • Convenient TASC Card with MyCash account
  • Mobile account access
  • Multiple self-service tools (web, phone, and fax)
  • Fast reimbursements
  • Helpful Customer Care Center
  • Easy online enrollment or re-enrollment

Start saving an average of $300 per employee in payroll taxes.
Choose a FlexSystem FSA Plan today!

 

Contact Us Today!

Central Arkansas Office
8017 Beechfield, Dr.
North Little Rock, AR 72116

Phone: 501-864-7399

E-mail: cc.perry@sbcglobal.net

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