Why should you offer your employees an FSA? A Flexible Spending Account is a great way for an employer to provide their employees the ability to save money on qualified health-related and dependent expenses such as prescription copays, hospital bills, and even daycare. But the benefits go beyond employee savings and become apparent in an employer’s bottom line results.
Few benefit plans offer the tax savings for employers like an FSA does—like being able to reduce your Social Security, Medicare, and payroll tax costs, which amount to a 7.65% savings—every dollar contributed to an FSA by an employee reduces the employers tax liability.
Adding or transitioning to a OneBridge FSA, either as a standalone benefit, or bundled with an existing plan such as an HRA, is easy to do, as OneBridge will provide everything you’ll need to adopt and efficiently manage your FSA.
In addition to providing you with complete access to real-time information about your OneBridge administered FSA program, and your plan’s participants, our robust portal solution will further streamline your benefit administration process. By logging in, you can:
- Manage all of your plan’s enrollment and disenrollment activities,
- Access all of your plan’s funding details,
- Manage all Qualifying Life Event (QLE) changes,
- Generate real-time reports,
- Access all of the plan’s informational documents and forms,
- And more.
OneBridge, with our outstanding customer service team and proprietary, first-of-its-kind software platform, can help you identify the right plan fit for your business and educate you on the best ways to manage your plan. We can also provide all of the education materials necessary to inform your employees on the Lifespanning benefits associated with an FSA, how to enroll, how much they stand to save by enrolling, how to use our convenient portal and mobile app with just one login, what expenses qualify, and the perks of the OneBridge debit card.
When it comes to running your business, there’s plenty to simultaneously consider and juggle. OneBridge Benefits lessens your administrative burden while also saving you time and money. Want to learn more about how we can help you get back to your top business priorities? Watch our latest animated video showing more of the benefits of leveraging an FSA through OneBridge.
Want to reach someone to learn more about offering your employees an FSA? Contact OneBridge so we can help you save time and money.