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Frequently Asked Questions — Answered

Below is a list of frequently asked questions about the services we offer. If you have a question that’s not answered here, please feel free to email us. We’ll be glad to help you find an answer.

Who Can Sponsor an Flexible Spending Account (FSA) Plan?

Regular corporations, partnerships, S corporations, limited liability companies (LLCs), sole proprietors, professional corporations, and not-for-profits can all save money on taxes by establishing an FSA plan.

While regulations prohibit a sole proprietor, partner, members of LLC (in most cases), or individuals owning more than 2% of an S corporation from participating in the FSA plan, they may still sponsor a plan and benefit from the savings on payroll taxes. "Employee" shareholders of regular corporations may also participate.

Will I still need to keep my receipts?

What will happen if I use the card for an ineligible expense?

Where can the card be used and what are some examples?

What is a Flexible Spending Account or FSA?

What are Flexible Benefit Plans? (FLEX)

What are the benefits of sponsoring a Flexible Spending Account Plan?

What benefits can an employer offer under a Flexible Benefit Plan?