Flexible Spending Accounts

Many companies enjoy the idea of offering their employees a Flexible Spending Account (FSA) but not the time commitment and complexity that comes along with it. At P&A, our experience and resources make the process quicker and easier for everyone involved. Your client will have access to a dedicated account manager, on-demand reports, free open enrollment, IVR, in-house ERISA attorney, and more. Meanwhile, the employees will enjoy online account management, a hassle-free debit card, and helpful customer service — all designed to maximize client participation and your client’s FICA savings.

We offer the following types of FSAs:

Health FSA Account

This plan allows employees to stretch their dollars for medical, dental, vision, and child care expenses that are not covered, or only partially covered, by insurance.

Dependent Care Assistance Account

Helps offset the cost of day care, after-school, or elder care programs for qualified dependents.

Individual Premium Reimbursement Account

This program allows employees to use pre-tax dollars to pay for non-employer sponsored medical premiums.

Adoption Assistance Account

Employees receive reimbursement for reasonable and necessary expenses that they incur in the process of legally adopting an eligible child.

Limited-Purpose Health FSA

Companies that provide employees a high-deductible health plan (HDHP) with a Health Savings Account (HSA) can offer this type of FSA that reimburses for restricted dental, vision and preventative medical expenses.

To learn more about FSAs for your client, request a proposal to discuss your needs.

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*For New Jersey taxpayers, the New Jersey state income tax will apply to money withheld from pay for any benefits that an employee elects. For a Pennsylvania taxpayer, the Pennsylvania state income tax will apply to money withheld from pay for Dependent Care Assistance benefits that are elected.