Articles for: FSA
What are the W-2 reporting requirements for health FSAs?
Beginning with the 2012 W-2 issued early in 2013, the reporting of employer contributions to health FSAs under a cafeteria plan will be required for any employer contribution to the [...]
Key words: cafeteria,FSA,healthcare,W-2
What is the annual limit on Health FSA contributions?
Effective January 1, 2013, health care reform imposed a $2,500 calendar year limit on annual salary reduction contributions to health care FSAs (HCFSA) offered under cafeteria plans (e.g., flex plans, [...]
Key words: 125 plans,cafeteria,flex plans,FSA,HCFSA,healthcare
How do Flexible Spending Accounts help your employees save money?
A Flexible Spending Account (FSA) is similar to a 401(k) because it lets employees set aside money before taxes. But, unlike a 401(k) plan, as long as the money is [...]
Key words: Flexible Spending Account,FSA
Who can participate in a Flexible Spending Account (FSA)?
Participation in an FSA depends on the type of FSA. In order to qualify as a Health Flexible Spending Account (Health FSA), only common law employees, along with their spouse [...]
Key words: Flexible Spending Account,FSA
What is a substantiation and when are they necessary for an FSA?
When using the debit card feature in your Flexible Spending Account (FSA), the employer sets up certain co-pays for prescriptions and office visits. This varies from company to company. If [...]
Key words: Debit Card,Flexible Spending Account,FSA