Tuesday October 31st, 2017
Flexible spending accounts (FSAs) have been around for a while, but there is still quite a bit of confusion around what’s eligible and how to use this valuable resource. FSAs are further complicated by the fact that there are several options: health, limited purpose, and dependent care. A health FSA can be used for health expenses, while a limited purpose FSA is used in conjunction with a high-deductible health plan and health savings account (HSA). A dependent care FSA is for the costs of dependent care, including day care, after-school care, in-home care, and day camps for children under age 13 or dependents who can’t care for themselves.
Not sure which one you have or on what you can spend the funds? Check out the Infinisource FSA Resource Center!
Infinisource Benefit Services has two helpful resource centers, packed with materials, information, and videos that will answer just about any question you may have about your FSA. One is designed for employers who offer an Infinisource FSA, while the other is meant for participants of the FSA.
On the first page of the Employer Resource Center, you’ll find a video library with information about dependent care FSAs and the iFlex mobile app, with links to share these videos with your employees. Additionally, you’ll find videos with step-by-step instructions for importing client enrollments, online enrollment, the online portal guide, managing employee edits, and more. The Guides & FAQs section of the resource center includes documents and forms to use during open enrollment, annual limits, and how-to guides for getting started and terminating participants through the portal.
The Participant Resource Center has many of the same resources, including overview sheets, FAQs, and guides to submitting online claims. Participants can also watch videos to learn how to check account balances, change a password, use the iFlex mobile app, file a claim online, change elections, and what to do if the debit card is declined. Participants can navigate to the savings calculator to get a customized view of how much they can save by enrolling in an FSA for expenses they are already paying for, with a print button built into the page. The final tab in the resource center is a link to the online FSA Store, where participants can shop for necessities that qualify under a health FSA.
With so much helpful information, the Infinisource FSA Resource Center should be your go-to when you encounter any questions about FSAs. Visit https://www.infinisource.com/resources/fsa_resource_center to get started!