Flexible Spending Account (FSA)

FSAs allow employees to pay for certain medical and dependent care expenses through pre-tax payroll deductions, which provides up to 40% tax savings for employees and 7.65% savings in FICA for employers. Employees make FSA elections during your open enrollment period (or upon eligibility). The full Medical FSA election is available on the first day of the plan year. Dependent Care accounts are pay to balance. Employers have some flexibility in how funds are treated at the end of the plan year.

Beniversal FSA Features

  • Convenient access to Medical FSA funds from the Beniversal® Prepaid Mastercard®, including sophisticated auto-adjudication technology with adjudication rates up to 98%.
  • Easy-to-use claims submission options through the BRIMOBILE app and BRIWEB.
  • Comprehensive employer support for enrollments, education and program design.
  • Easy-to-use employer login for managing program, enrolling participants, downloading resources and accessing reports.
  • 24/7 account access for participants. Through BRIWEB, participants can enroll, submit claims, view account information and download forms and resources.
  • On-the-go support with the BRIMOBILE app to view balances, access recent transactions and submit claims.
  • Participant Services by phone and live chat (available in English and Spanish).

FSA, HSA, HRA - What's the Difference?

FSA Related Articles

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