Flexible Spending Accounts, Health Reimbursement Accounts- Employee Benefit Administrator

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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.

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

Premium Only Plan
A Premium Only Plan (POP) allows employees to pay their share of insurance premiums with pre-tax dollars.

Health Flexible Spending Accounts (FSA)
A Flexible Spending Account (FSA) is a program that gives employees coverage under which certain expenses may be reimbursed, subject to certain maximums and reasonable conditions. Employees can use a health FSA to pay for medical expenses that cant be reimbursed through insurance or any other arrangement. Insurance co-pays (but not insurance premiums), deductibles, eyeglasses and orthodontia are common examples of health FSA expenses.

Dependent Care Assistance Program (DCAP)
A DCAP is a dependent care assistance program that is also an FSA. An employee can use a DCAP to be reimbursed for employment-related expenses that allow the employee and his or her spouse to be gainfully employed. Employment-related expenses apply only to certain individuals. Typical DCAP expenses are those incurred to have a baby-sitter or daycare provider take care of an employees child(ren) under the age of 13 while both parents are both working.

Transportation Benefits
Qualified Transportation Plans allow employers to offer a tax break to employees with qualified transportation expenses related to their employment. The following benefits can be offered on a pre-tax basis through a transportation plan:

Transit Passes These are any pass, token farecard voucher or similar item entitling a person to transportation (or transportation at a reduced price) if it is on mass transit facilities or provided in a highway vehicle eligible for use in vanpooling.

Vanpooling This means transportation to and from an employees residence, but only if the transportation is in a commuter highway vehicle that seats at least six adults plus the driver. At least 80% of the vehicles use should be for transporting employees between their homes and their jobs. Employees must use at least half of the seating capacity for such trips.

Qualified Parking This is parking provided to an employee at or near the employers business premises. It also includes parking at or near a location from which the employee commutes to work by mass transit, vanpooling, in a commuter highway vehicle, or by carpool. (Parking at or near the employees home does not qualify)