Tax Savings For You And Your Employees
As co-pays, deductibles, and the cost of childcare continue to increase, a Flexible Spending Account (FSA) is one of the best benefits that an employer can offer. At MedCost Benefit Services, we offer a seamless, efficient FSA product that provides flexibility for our clients and their health plan members. We administer two types of FSAs, one for health care and the other for dependent care. Strict IRS regulations apply to the administration of either type of FSA, and mistakes are costly. We handle all the details of FSA administration for our clients with the highest levels of accuracy and efficiency.
Optional Flex Debit Card
Our clients may choose to offer their health plan members who participate in an FSA the convenience of a flex debit card. The Flex Benefits Card can be used to pay for eligible health care expenses at thousands of merchant locations, including most all major chains. Cardholders have secure, 24-hour access to account status, transaction detail, and plan balance information through the Member login on our web site.
Integration Reduces Paperwork For Participants
For clients who prefer not to offer the debit card solution, our sophisticated technology allows us to integrate health care FSAs with your employee health plan so that FSA participants never have to file a claim for co-payments, deductibles and co-insurance. We can even arrange for these payments to be direct deposited into employees’ checking accounts.