Flexible Spending Accounts (FSAs)
Flexible spending accounts (FSAs) are personal accounts generally funded solely by employees. FSAs help reduce members’ tax liability when they set aside money for medical expenses or dependent care (also known as a Dependent Care Account). Employers benefit by offering FSAs because their FICA taxes may be lowered (participation reduces employees’ taxable income).
Please note: BlueSaver FSAs (when paired with a high deductible health plan) are available to groups of 100+ employees.
The BlueSaver health FSA is closely integrated with our medical products and services to improve the member experience and help them take full advantage of their benefits. The dependent care account offers similar online features, including online claims submission to speed up reimbursement. Our BlueSaver FSA offers many options including:
- Simplified billing with no pre-funding (You only pay for FSA expenses after they occur.
- Easy account maintenance and online reporting
- Automated claims rollover for the health FSA
- Direct payment to medical provider
- An optional debit card