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.
The Beniversal and eTRAC Prepaid Mastercards are issued by The Bancorp Bank, N.A., Member FDIC, pursuant to a license by Mastercard International Incorporated and may be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circle’s design is a trademark of Mastercard International Incorporated.
HSA Custodial Services are provided by a separate financial institution. See your HSA Account Agreement for specific account terms.