-
Flexible Spending Account
A Flexible Spending Account gives your employees the ability to save taxes by contributing to an account that can be used for eligible medical, dental, vision, and dependent daycare expenses tax free.
-
Health Savings Account
Health savings accounts are tax favored accounts that can be contributed to by or on behalf of “eligible individuals” covered by qualified high deductible health plans (HDHPs) to pay for eligible medical expenses of covered individuals and their spouses and/or tax dependents.
-
Health Reimbursement Arrangement
An HRA is a type of Medical Reimbursement Plan (MRP) that allows the employer to contribute tax-free dollars to a designated employee accounts. These accounts are for employee reimbursement of out-of-pocket medical expenses (including some insurance premiums and deductibles).
-
Qualified Transit and Parking
A Qualified Transportation Plan (QTP) is a reimbursement plan governed by IRS Section 132 that allows employees to contribute a certain amount of their gross income to designated accounts before taxes are calculated. These accounts are for specified transportation and parking expenses for commuters.