Why FlexSave?
- Competitve pricing
- State of the art processing system
- Benefits can be custom made
- Outstanding customer service
- Lowers your tax liability
- Enhances your benefit portfolio
- Creates employee goodwill
What to expect from FlexSave:
- 24/7 Internet access
- 24 hour claims processing time
- Prompt email response and issue resolution
- Excellent customer service
- Superior administration
- Knowledgeable staff
Employee’s Swipe, You Both Save!
Flexible Spending Accounts offer attractive savings to both employers and employees alike – if you take full advantage of them.
Take a look at the chart below to see how the FlexCard will help your organization and employees save money.
Traditional plans without the debit card feature require 100% claims substantiation. With the FlexSave system we can reduce the amount of paperwork by up to 85%.
The FlexSave of America FlexCard eliminates the traditional hassles of Cafeteria Plans. Claim forms, double out of pocket payments, and waiting for reimbursement checks are all negative aspects of the traditional programs. Because of its ease of use, the FlexCard encourages greater participation and contributions by employees. Employers have experienced a growth of 25% in the FSA enrollment and an increase of 28% in the average per-employee contributions.
| HOW EMPLOYEES SAVE MONEY | ||
| Employees not utilizing a Flex Plan | FSA With the Flex Convenience Card | |
| Annual Contribution (per employee) | $ 1,000 | $ 1,000 |
| Federal, State FICA (35% Tax bracket) | $ 350 | $ 0 |
| Spendable Income | $ 650 | $ 1,000 |
| The difference with the FlexCard (net savings per employee) | $ 350.00 | |
Employer savings are based on not paying the 7.65% FICA tax. In the example above, the employer would realize a $76.50 annual savings in payroll taxes.