Program Audit & Analysis
       Group Health & Welfare
       Healthcare Benefits Trust
       Flexible Spending Accounts
       Consumer-Directed Plans
       MA Health Care Reform
       Preferred Insurance Carriers

FLEXIBLE SPENDING ACCOUNTS

Flexible Spending Accounts (FSA) are available to businesses with two or more employees and enable employers and their employees to pay for a variety of medical and dependent care expenses with pre-tax dollars, as established by IRS Code Section 125. FSA plan designs can be customized and combined to meet the benefit needs of any company and its employees.

EMPLOYER ADVANTAGES

• Reduces employment taxes: FICA, unemployment, and workers compensation
• Provides an outstanding corporate-sponsored benefit at no increase in salary
• Enhances employee benefit package – helps to recruit new employees and reduce turnover
• Easily understood and implemented

EMPLOYEE ADVANTAGES

• Reduces taxable income
• Increases spendable income
• Offers an easy and convenient way to pay for expenses not covered by insurance; funds are available when expenses are incurred
• Allows the purchase of other benefits on a pre-tax basis
• Offers benefit selections based on their needs
• Benefits from Flex125™ accounts are higher than what Social Security will provide (in most cases)

CBG not only provides a wide array of FSA options but also specializes in online and networked services that make FSA administration easy and simple. Two of CBG's featured services are the Benny Debit Card and FSA Web Access. For official tax information on HRAs, review the IRS Section 105 Notice.