Health Care Flexible Spending Account (FSA)

A health care flexible spending account (FSA) is a tax-advantaged account allowing employees to set aside pre-tax money to help pay for qualified medical expenses.

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Q1 2025 Winners

Top 9 Health Care Flexible Spending Account (FSA)

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Vendors list

Alight Solutions
Benepass
Forma
BASIC
Employee Benefits Corporation (EBC)
HSA Bank, a division of Webster Bank, N.A.
MyChoice Accounts by Businessolver
Pro-Flex Administrators, LLC
Hello Further

Alight Solutions

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Why We Picked Alight Solutions?

Alight Solutions is a cloud-based human capital technology and services provider with a global presence and comprehensive solutions, including health care FSAs. The provider offers tools and resources that enhance the overall user experience, making it easier for employees to take control of their healthcare costs while enjoying the flexibility and accessibility of Alight's platform.

Pros

User-Friendly Interface – The platform's design and ease of use allow employees to access everything they need in one place, making it convenient to manage healthcare expenses.
Comprehensive Resources – Employees acknowledge Alight's extensive resources and updates on new legislation and benefit changes.
Broad Range of Services – Alight's array of services caters to complex organizational needs, making it a strong partner for large enterprises.
Responsive Customer Support – Employees appreciate the responsiveness of the customer support team, which resolves issues promptly and effectively.

Cons

High Costs – Employees have noted that the costs associated with change orders and specific tasks can be relatively high.
Limited International Support – The platform has shown limitations in understanding and supporting international needs.
Challenges in Running Reports – Employees have expressed a need for greater access to plan-level reports and improved visibility across the entire plan.
Outdated Technology – Some employees have raised concerns about the platform's use of outdated technology, which can slow down processes and decrease efficiency.

FAQ

What is a Health Care Flexible Spending Account (FSA)?

Health Care FSAs allow employees to set aside pre-tax dollars to pay for eligible healthcare expenses such as deductibles, copayments, and prescription medications.

What are the eligible expenses for an FSA?

Eligible expenses typically include medical, dental, and vision care expenses not covered by an insurance plan.

How can employees access their Health Care FSAs?

Alight Solutions’ user-friendly platform allows employees to access their FSAs, manage their accounts, submit claims, and track expenses in one place.

What’s Alight Solutions customer support like?

Alight Solutions offers responsive customer support, which can be contacted through their platform, via email, or by phone.

Are there any fees associated with the Health Care FSA?

While the platform itself is user-friendly, there may be costs associated with change orders and specific tasks.

Final Note

Overall, Alight Solutions provides a streamlined and efficient way for employees to manage their flexible spending accounts, enhancing their convenience and financial well-being.

Benepass

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Why We Picked Benepass?

Benepass offers a flexible benefits platform that allows companies to manage various pre-tax benefits, including Flexible Spending Accounts (FSA). Their platform simplifies benefit access by consolidating options like healthcare FSAs, making it easier for employees to manage their expenses with both physical and virtual cards. With its user-friendly design, Benepass empowers employees to fully utilize their benefits while reducing the administrative burden for employers.

Pros

Excellent Customer Service – Benepass is praised for its quick and helpful customer service, which promptly resolves issues and answers questions.
No Receipt Submissions – The digital and physical cards eliminate the need for receipt submissions, simplifying the process for employees.
Ease of Use – The platform is easy to set up and use, with both digital and physical cards available for convenience.
Wide Acceptance – Benepass is accepted at various locations, including internationally, providing employees with broad flexibility in how and where they use their benefits.

Cons

Occasional Card Declines – Some employees have experienced issues with the card being declined on certain platforms, such as Amazon.
Slow Balance Updates – A few employees have noted that the app could update the remaining balance faster.
Limited Funding Options – Employees have expressed a desire for the ability to add personal funds to their account for purchases that exceed the monthly stipend.
App-Specific Issues – While rare, some employees have experienced occasional technical issues in the app.

FAQ

Where can I use my Benepass FSA?

Benepass is accepted at a wide range of locations, including internationally. It can be used for various services such as medical expenses, gym memberships, and even pet care.

How do I check my FSA balance?

You can check your FSA balance directly through the Benepass app. The app provides a detailed overview of your available funds and tracks spending by category.

Can I add personal funds to my Benepass account?

Currently, Benepass does not allow adding personal funds to cover expenses that exceed the monthly stipend, but this is a feature some workers have requested.

What should I do if my card gets declined?

If your card is declined, especially on platforms like Amazon, it's advisable to contact Benepass customer service, which is known for its quick and effective support.

How do I submit a claim if I pay out-of-pocket?

If you pay for an eligible expense out-of-pocket, you can submit a claim through the Benepass app. Simply upload a copy of your receipt and provide the necessary details to receive reimbursement.

Final Note

Overall, Benepass combines ease of use, wide acceptance, and strong customer service to make FSAs a flexible and convenient way for employees to manage healthcare expenses.

Forma

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Why We Picked Forma?

Forma offers a range of customizable spending accounts, including healthcare FSAs, providing a modern and flexible platform for employers to manage benefits efficiently. Their approach simplifies pre-tax account management, allowing employees to access healthcare and other benefits through easy-to-use tools like the Forma Visa Card or their claim reimbursement system.

Pros

User-Friendly Platform – The platform is praised for its intuitive and clean design, making it easy for employees to navigate and manage their benefits.
Quick Reimbursement Process – Employees report fast turnaround times for claims, often receiving confirmation of approval within 48 hours.
Responsive System – The platform is highly responsive, with employees rarely encountering issues during their experience.
Efficient Claim Submission – Submitting claims is straightforward, with employees highlighting the simplicity and efficiency of the process.

Cons

Limited Sub-Categories – Some employees feel more specific sub-categories for permitted items would improve clarity.
Reimbursement Rates – A few workers have noted that the reimbursement rate for certain expenses could be higher.
Potential Cost Concerns – While generally satisfied, some employers believe that the costs associated with the platform could be reduced to further enhance its appeal.
Limited Product Pricing Options – Some employees have requested more low- to mid-range priced items in the Forma store, as the current offerings didn’t always fit their budgets.

FAQ

How do I use Forma's platform for my healthcare FSA?

Forma’s platform is designed to be intuitive and user-friendly. You can easily submit claims, track expenses, and manage your benefits all in one place.

How do I use Forma to submit a claim?

Submitting a claim on Forma is straightforward. Log into your account, navigate to the claims section, attach the necessary receipts, and submit your claim.

How long does it take to get reimbursed through Forma?

Employees typically receive confirmation of their claim approval within 48 hours, making the reimbursement process quick and efficient.

What are the eligible expenses for an FSA through Forma?

Eligible expenses include a wide range of medical, dental, and vision costs. The platform provides clear categories to help you understand what is covered.

What are the benefits of using Forma for managing my expenses?

Forma streamlines benefits management with a user-friendly interface, quick reimbursement processing, and helpful guidance on using benefits effectively.

Final Note

Overall, choosing Forma allows employers to offer a modern and efficient benefits management solution that simplifies pre-tax account handling, ensures quick claim reimbursements, and provides an intuitive platform for employees to manage their healthcare and other benefits effectively.

BASIC

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Why We Picked BASIC?

BASIC is a nationally recognized FSA administrator. It combines innovative technology with services like easy enrollment, ongoing eligibility management, and guaranteed compliance with IRS regulations.

Its FSAs feature fast reimbursement, a single benefit card for all accounts, and a wide range of coverage for eligible expenses.

With a user-friendly app, employees can effortlessly manage their accounts, ensuring a seamless experience that supports their healthcare needs.

Employee Benefits Corporation (EBC)

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Why We Picked Employee Benefits Corporation (EBC)?

Employee Benefits Corporation (EBC) offers a standard health FSA and a limited health FSA. Both are designed for convenience, allowing employees to access their FSA funds using a prepaid Benefits Card or submitting reimbursement claims via an online account or mobile app.

Employers can customize their FSA offerings, including options like rollover and grace periods, to fit their specific needs, making EBC a trusted partner in employee benefits administration.

HSA Bank, a division of Webster Bank, N.A.

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Why We Picked HSA Bank?

HSA Bank, a division of Webster Bank, N.A., offers a range of health benefit accounts, including Flexible Spending Accounts (FSA). With features like the Health Benefits Debit Card and a user-friendly mobile app, HSA Banks makes it simple for employees to access their savings when needed. In addition, their easy-to-use platform integrates FSA management with other account types, streamlining benefits administration for both employers and employees.

MyChoice Accounts by Businessolver

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Why We Picked MyChoice Accounts by Businessolver?

MyChoice Accounts offers a seamless way for employees to manage their healthcare Flexible Spending Accounts (FSA) along with other benefits. With their “one-wallet” approach, MyChoice makes it easy to handle multiple benefit accounts—like FSAs, Health Savings Accounts (HSA), and commuter benefits—all in one place. Employees benefit from simplified claim processing and can manage everything through an intuitive app that streamlines reimbursements and payments.

Pro-Flex Administrators, LLC

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Why We Picked Pro-Flex Administrators, LLC?

Pro-Flex Administrators LLC is a benefits administration company offering several flexible spending account types, including health care FSAs.

With an intuitive platform and a commitment to customer service, the provider ensures a seamless experience for employers and employees. From covering physician visits and dental work to mental health counseling expenses, their solutions empower employers across different industries to effectively manage healthcare costs while enjoying significant tax savings.

Enrollment is simple and supported by user-friendly tools, including a mobile app and debit card for easy access to funds.

Hello Further

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Why We Picked Hello Further?

Hello Further is a leading administrator of health spending accounts, dedicated to simplifying and making health care more affordable.

Its FSAs allow employees to set aside pre-tax earnings for qualified medical expenses, helping them manage costs effectively while offering employers tax benefits.

With features like the option to carry over unused funds and a user-friendly mobile platform, Further's FSAs enhance employee benefits and support smart spending decisions. Their strong focus on customer service has earned them a reputation as a trusted partner for businesses across various sectors.

Frequently Asked Questions

What Is a Health Care Flexible Spending Account?

A healthcare flexible spending account (FSA) is an employer-offered benefit that allows employees to set aside pre-tax dollars from their paychecks to pay for eligible medical expenses not covered by their insurance. These expenses include copayments, deductibles, prescription drugs, insulin, and medical devices. Typically, FSA funds must be used within the plan year since they don’t roll over.

How Does a Health Care Flexible Spending Account Work?

Employees determine the amount they want to contribute from their salary to their pre-tax FSA within limits established by their employer. Then, they can use these funds throughout the year to cover qualified medical expenses.

How To Use a Health Care Flexible Spending Account?

There are three methods of accessing FSA funds. Employees can use an FSA-issued debit card to pay for their eligible medical expenses, submit receipts for reimbursement, or pay providers directly via an online portal. Employees should consult their employer or FSA provider to determine available options.

Do Health Care Flexible Spending Accounts Rollover?

Traditionally, FSAs did not allow funds to roll over at the end of the year, but recent regulations allow for more flexibility. However, employers must set a plan for healthcare flexible spending accounts to roll over. Otherwise, this won’t automatically happen, and any remaining funds will be forfeited from employees’ accounts at the end of the year.

How Does a Healthcare Flexible Spending Account Benefit a Company?

Healthcare FSAs have many advantages for employers, from better benefits to cost savings. Their direct advantage is reducing payroll taxes by allowing workers to cover eligible expenses with pre-tax dollars, lowering the company’s overall tax burden and creating cost savings. At the same time, offering healthcare flexible spending accounts enhances the company’s benefits package, potentially increasing employee satisfaction and retention and creating a more productive workforce.

Why Is a Flexible Healthcare Spending Account Good for The Company?

A flexible healthcare spending account is advantageous for companies because it helps attract and retain talent by offering tax advantages to employees and enabling them to manage healthcare costs effectively.

Is A Health Care Flexible Spending Account Worth It?

Although the answer is case-specific, for many employees and their employees, a healthcare flexible spending account can be worth it due to tax savings on healthcare expenses. It allows for predictable budgeting and can cover a wide range of medical costs not typically covered by insurance.

Are Health Care Flexible Spending Accounts Tax Deductible?

Contributions to a healthcare FSA use pre-tax dollars, making FSA contributions not tax-deductible. In other words, employees cannot claim a tax deduction for their contributions because the funds were not taxed initially.

What Qualifies as an FSA Expense?

Because FSAs are tax-advantaged, they are more strictly regulated by the IRS and have a narrower range of eligible expenses. FSA funds can be used for medical costs like prescriptions, doctor appointments, dental and vision care, and some over-the-counter items. Dependent care FSAs cover costs for daycare, preschool, and elder care.

What is Considered FSA Eligible?

Eligible expenses include medical services like doctor visits, dental and vision care, prescription medications, and certain over-the-counter drugs. Dependent care expenses include daycare and elder care services.

Health Care Flexible Spending Account (FSA)

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Q1 2025 Winners

Top 9 Health Care Flexible Spending Account (FSA)

Vendors list

Why We Picked Alight Solutions?

Pros

Cons

FAQ

What is a Health Care Flexible Spending Account (FSA)?

What are the eligible expenses for an FSA?

How can employees access their Health Care FSAs?

What’s Alight Solutions customer support like?

Are there any fees associated with the Health Care FSA?

Final Note

Why We Picked Benepass?

Pros

Cons

FAQ

Where can I use my Benepass FSA?

How do I check my FSA balance?

Can I add personal funds to my Benepass account?

What should I do if my card gets declined?

How do I submit a claim if I pay out-of-pocket?

Final Note

Why We Picked Forma?

Pros

Cons

FAQ

How do I use Forma's platform for my healthcare FSA?

How do I use Forma to submit a claim?