Premier Consulting Associates has experience with helping employers set up, manage and maintain reimbursement and flexible medical spending accounts for their employees. Learn about the different types of reimbursement accounts available for your health plan below.
Flexible Spending Account (FSA)
A benefit that allows employers to deduct money pre-tax out of an employee‘s paycheck to assist in paying for out-of-pocket health care expenses. An FSA can also be set up for dependent and transportation expense assistance.
Health Care Expenses
Submissions can include office visit or prescription copays, coinsurance and deductibles on a health plan, dental and vision expenses, as well as prescribed over-the-counter medications.
Allows employees to set aside dollars to assist with certain child care expenditures for their dependents. This is a convenient and cost-effective way to provide for day care, after-school programs and pre-school expenses.
Transportation Reimbursement Plan
Alleviates employees of high-cost commutes via pre-tax parking, van pooling and mass transit pass programs.
Health Care Reimbursement Account (HRA)
An employer-maintained account that reimburses employees for qualified medical care expenses.
Health Care Savings Account (HSA)
A tax-exempt trust or custodial account created to pay for employee and dependent qualified medical expenses.
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