You’re providing your employees with the opportunity to set up a Section 125 or flexible savings accounts (FSA) whereby they can contribute funds to the account through a salary-reduction agreement and are able to withdraw the funds set aside to pay for medical bills.
As an employer you may add to the FSA Plan as a key element in your overall benefit package. Because an FSA Plan offers a tax advantage, you experience savings from reduced FICA, FUTA, SUTA, and Workers Compensation taxes on participating employees. These tax savings reduce or eliminate altogether the various costs associated with offering the plan.
At Sinclair Risk & Financial Management, our human resources consultants will keep you and your employees up to date on any changes in the tax code that may affect the plan. Our staff stays current with all legislative, regulatory, and tax issues related to our clients’ employee benefits, human resources, and financial planning products and services.
We do the legwork to keep you current.
Give Sinclair a call at 203.265.0996, email us, or return the form on this page for more information.