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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1 eligible

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5,000

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The Health Care Reimbursement Account is a fringe benefit plan, which is authorized under the IRS code Section 125. It is a tax reduction plan, not an insurance plan. The Health Care Reimbursement... Show More
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20 eligible

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200,000

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The Best FSA & HRA Administration!

Make your employees very happy with simplified claims submission and timely & accurate claims processing. Plus, give them the ease of a debit card...
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Founded

1996

Employees

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About EMPOWER

Human Touch Service for Your Group!

In 2023, EMPOWER celebrated its 25th anniversary administering FSAs, HRAs, HSAs, Cobra, and Commuter and Lifestyle Benefits accounts for employers in the Midwest and throughout the nation. EMPOWER combines the advanced technology of the Nation’s largest administrators with the Human Touch of exceptional service.

With EMPOWER, you’ll contact your Personal Account Manager with any issues, not an anonymous email ticket system. This means you and your HR team will get the answers you need in minutes, not days.

In annual surveys, EMPOWER consistently...
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Founded

1989

Employees

397

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Not Provided

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About BASIC

As one of the first third-party administrators of Flexible Spending Accounts in the nation, BASIC is a Technology Driven HR Compliance Company focused on delivering administrative and technology solutions to assist Human Resource Departments throughout the United States. Show More
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-

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-

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There are two types of health care FSAs: a standard health FSA and a limited health FSA. With both health care FSAs, participants choose how much pre-tax money you would like to contribute... Show More
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Min. Group Size

1 eligible

Lives Serviced

104,408

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Healthcare FSA (HC-FSA) - Covers qualifying medical, prescription, dental and vision expenses.
• We offer multiple FSAs for unique needs and lifestyles.
• There’s straight-forward claims submission, substantiation, and reimbursement online...
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Company Overview

Founded

1975

Employees

734

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Not Provided

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About TASC

TASC (Total Administrative Services Corporation) is an award-winning nationwide administrator of tax-advantaged health benefits plans offering comprehensive services for Clients, Participants, and Providers and serving companies ranging in size from one employee to thousands!

New product development, innovative tools, and outstanding, transparent service keep TASC’s service offerings at the forefront of third-party benefits administration.

TASC prides itself on helping business owners and their employees improve their bottom line, bringing them peace of mind, and providing them with fast and accessible service.

AgriPlan and BizPlan (Section 105 HRA) are products that...
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Company Overview

Founded

1994

Employees

10,000

Funding Summary

2.5M Series A

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About Alight Solutions

Founded in June 2017 following a divestiture from Aon Corporation, Alight inherits over 40+ year of HR expertise from its predecessors, Aon and Hewitt Associates. Most recently, in July 2024, Alight completed the sale of our Professional Services segment and our Payroll & HCM Outsourcing businesses to an affiliate of H.I.G. Capital. Following the sale, this business unit has been rebranded as Strada and will operate independently from Alight. In December 2022, Alight acquired ReedGroup, a leader in leave management solutions. This acquisition significantly strengthened Alight's ability to support employees and their dependents throughout their entire employment lifecycle, from onboarding to... Show More
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Company Overview

Founded

2021

Employees

20

Funding Summary

15M Series A

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About elevate.inc

Elevate strives to offer the industry’s most intuitive, configurable, and automated administration platform for employers, their employees and their dependents, to maximize the advantages of consumer directed benefits. Currently, the consumer-directed benefits market poses problems for benefits providers, employers and their employees. Today's platforms are antiquated and impersonal, and often confusing for employees to understand. Elevate’s cutting-edge benefit administration technology simplifies systems, boosts efficiency and cuts costs for providers.
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Min. Group Size

300 eligible

Lives Serviced

-

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Why Benepass FSA
Modernize the employee experience. Employees can easily access and manage their FSAs/DCFSAs through a web app and mobile app. They receive a virtual FSA card in our app along...
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Min. Group Size

1 eligible

Lives Serviced

45,000

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SUMMARY OF ADMINISTRATIVE SERVICES
• Nation Leading Auto-Substantiation Technology: With a 90% plus auto-adjudication rate, you can expect less than 1 out of every 10 claims submitted will require follow-up documentation or...
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Min. Group Size

-

Lives Serviced

185,000

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A healthcare FSA is a flexible spending account that allows employees to set aside pre-tax dollars for eligible medical, dental, and vision expenses for them self and their dependents, even if they are... Show More
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Min. Group Size

1,000 eligible

Lives Serviced

-

Average Cost

Average Cost is Locked

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At Businessolver, we know that a Flexible Spending Account (FSA) shouldn’t just be flexible in name. We built our MyChoice Accounts solution to support your unique FSA attributes, allowing you to deliver a... Show More
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Min. Group Size

250 eligible

Lives Serviced

-

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Putting flexibility back into FSAs
Take advantage of IRS-approved pre-tax spending without the headaches, support needs, and legacy software. Forma’s platform helps inject the flexibility into FSAs that’s been missing.
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Company Overview

Founded

Jan-06

Employees

6

Funding Summary

Not Provided

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About Burnham & Flower - AP

Guiding your benefits: Our administration professionals provide expert services for HRA, HSA, FSA, COBRA, Lifestyle Benefits and Parking and Transit benefit plans along with innovative resources to help your employees manage their consumer directed health care accounts. Multipurpose debit card: A single debit card is leveraged for all benefit account spending. Next Generation Member Portal and Mobile App: Powerful self-service capabilities plus education and decision support tools. Get real-time balances and transactions, submit claims, access plan details, account alerts, and much more. Employee Engagement Tools: Real-time administration platform automatically sends event-triggered alerts and notifications via text and email that keep... Show More
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Company Overview

Founded

August 2016

Employees

109

Funding Summary

80M

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About Lively

Lively is the modern HSA experience built for those seeking stability in the ever-shifting and uncertain healthcare landscape. Lively is committed to helping every HSA maximize its potential through intuitive design, accessible support, and ongoing education. Show More
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Company Overview

Founded

1988

Employees

12

Funding Summary

Not Provided

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About Davevic

Davevic is your one stop shop for all administrative services that coincide with your clients benefit plans. We bring together the best technology, combined with comprehensive knowledge of the industry to get you the right solution at the right price.
From our office we ensure compliance with meticulous record keeping, and employ a friendly and familiar staff with no outsourcing or call centers. Our goal is to provide flexible solutions, spectacular customer service, and to simplify administration for all parties involved.
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Company Overview

Founded

1986

Employees

107

Funding Summary

Not Provided

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About Flores Associates

Flores is a leading national administrator of tax-advantaged consumer based reimbursement plans such as health and dependent care spending accounts (FSAs), health reimbursement arrangements (HRAs), health savings accounts (HSAs) and qualified transportation expenses (QTEs). Additionally, Flores handles COBRA administration and billing services for employers. In 2018, we introduced our newest benefit solution, life.balanced. Lifestyle Reimbursement Accounts (LBAs), an affordable post-tax reimbursement option for the culture-driven employer. Headquartered in Charlotte, NC, Flores has emerged as the leader in this field through the use of innovative technology, dedicated professionals, and an uncompromising commitment to superior service.

We are...
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Product Info

Min. Group Size

1 eligible

Lives Serviced

-

Average Cost

Average Cost is Locked

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For more than two decades, HealthEquity has offered an intuitive FSA solution to tens of thousands of clients, delivering exceptional savings and outstanding support to members. Our FSA service includes health care, dependent... Show More
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Company Overview

Founded

1989

Employees

165

Funding Summary

Not Provided

Clients Your Size Clients Your Size

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About Navia

Navia has been around since 1989. We started out as Flex-Plan Services, a family-owned and operated third-party administrator of FSA plans serving school districts and other public sector employers in Washington State. We’ve grown from our humble beginnings to be considered one of the premier administrators on the West Coast with a national reach of clients from coast to coast. Over time, even with our increase in service offerings and overall growth, we’ve maintained the qualities and principals that the company was founded on: respect, communication, and treating clients and participants like family.

Relationship with transparency means...
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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.

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