Financial Planning Benefits: Flexible Spending Accounts
Flexible benefit plans let you reduce your cost of certain expenses by giving you a tax break on money used to pay for them. These can include medical expenses (not including pre-taxed premiums), dental expenses, vision expenses, and some over the counter medications. In addition, dependent care accounts offer employees the ability to pay for child/elder care on a pre-tax basis.
Eligible employees have the option to participate in the medical and/or dependent care flexible spending accounts. Enrollment in flexible spending accounts occurs during open enrollment once each year.
Go to www.asiflex.com to learn more about Flex Spending.