Why VitaFlex for FSA administration?
VitaFlex has administered employer-sponsored Flexible Spending Arrangements for more than 10 years. Our team’s vast knowledge of FSA Plan administration is the result of constant attention to the market and the legal climate. This vigilance ensures that we stay up-to-date with changes in FSA rules and guidelines.
VitaFlex provides superior service to employers and employees through ongoing employee education and communication, efficient claim processing by highly trained in-house analysts, and extensive record keeping and reporting services that are fully compliant with the Health Insurance Portability and Accountability Act (HIPAA).
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What are Flexible Spending Arrangements?
A Flexible Spending Arrangement Plan, also known as an FSA Plan or Cafeteria Plan, is an employee tax-savings program governed by IRS Code Section 125. Participants make an annual election to reduce their taxable income by the amount they anticipate spending on qualified medical and dependent care expenses during the Plan Year. Once medical and dependent care expenses have been incurred, participants may submit claims for tax-free reimbursement from their employer. Learn more about FSAs.
Why offer an FSA Plan?
With medical costs continuing to rise, employers are looking for ways to control their group health care expenses. Implementing an FSA plan can provide a strategic way to control overall benefit costs without reducing benefits. Through an FSA plan, employers and their employees have the opportunity to save a significant amount in taxes. Learn more about why you should offer an FSA Plan.
What sets VitaFlex apart?
VitaFlex provides a comprehensive FSA administration product for companies wishing to achieve tax savings for themselves and for their employees. Our goal is to provide superior administrative service that fully complies with IRS regulations and federal law protecting personal health information. Following are some of the features of VitaFlex:
Plan design customization (debit card, grace period, reimbursement methods)- Signature-ready plan documentation
- Discrimination testing and IRS Form 5500 preparation
- Personalized education and enrollment materials
- IRS audit-proof claims adjudication
- Next business day claims processing turn-around
- Employer online access to reports
- Participating employee online account access, including personal claims history
- Knowledgeable on-site Customer Service Center
Learn more about what sets us apart.