When this money
is withdrawn from the employee's paycheck before taxes are calculated,
the cost of covered services is effectively reduced by an average
of 30%.
When the employee's gross pay is reduced, the employer also saves
on payroll taxes (e.g. FICA).
A recent IRS ruling authorizing FSAs to reimburse, tax-free, the
cost of most over-the-counter medications and the on-going tendency
of employers to increase out-of-pocket claims cost (deductibles,
co-pays) for health plan members are combining to make Flexible
Spending Accounts a more popular and more important cost management
tool.
Plus, these are the only benefits that Uncle Sam actually
pays employers to offer to their employees!
Benemax CDFSAs not only save tax dollars but they have a favorable
impact on a company's overall health and dental claims cost.
Our CDFSAs offer members access to on-line second opinions which
occasionally reverse diagnoses and often alter treatment plans.
In many cases this results in lower claims cost and better health
outcomes.
Benemax CDFSAs incorporate consumer tools for dental care as well.
CDFSA members can pose questions to a panel of dentists on-line,
they can look-up the median cost of any dental procedure in any
zip code and they can access a list of dentists who exhibit best
practices and whose charges conform to community standards. These
programs improve members' overall dental health and they help members
get the most from their employer provided dental benefits and from
their personally funded Flexible Spending Accounts.
WHAT'S NEXT? May we send you our full FSA kit, complete with a
list of eligible healthcare and dependent care expenses and our
fee schedule?
