Flexible Spending Account Administration (FSA)
A Flexible Spending Account (FSA) is a type of “cafeteria plan” where employees can elect to set aside pre-tax payroll dollars for the payment of certain out-of-pocket expenses, including healthcare, dependent care, transportation and parking. Plan participants reduce their taxable income and companies benefit through reduced FICA taxes.
WL Benefits’ cost-effective FSA administrative services guarantee smooth program operation without all the headaches.
WL Benefits provides:
- Claim payment determination and adjudication
- Participant account statement preparation and fulfillment
- Payment summary reporting
- Flexible reimbursement options at no additional cost (direct deposit option, debit card and manual check)
- Online enrollment through BenefitsTalk™ technology
- Access to our professionally staffed call center
- Online claims submission
- Financial modeling tools to estimate expenses and tax savings
- Guaranteed claims processing timeliness and accuracy
Employees want to know how the FSA program benefits them financially, how it operates, and how they can use it to their best advantage. WL Benefits effectively
communicates the benefits of plan participation to employees in an uncomplicated, easy to understand manner.