Flexible Spending Account
Pre-Tax Premium Plan – IRS Section 125
The IRS Section 125 allows employees to pay some benefits with pre-tax deductions from their paychecks. These pre-tax deductions have the effect of lowering the employee's taxable income. Consequently, the employee pays less in FICA and Federal Withholding taxes. This includes employee-paid costs for medical insurance, dental insurance, vision insurance, flexible spending accounts and dependent day care expenses (usually child-care).
The flexible spending account (FSA) and dependent day care account (DDC) require an annual election each year during the Annual Open Enrollment period.
As of January 1, 2014, Chard Snyder is the vendor for our Flexible Spending Account. Here is the link to their website: http://www.chard-snyder.com/ to obtain claim forms or for additional information about Flexible Spending Account benefits.
Every employee that enrolls in the Flexible Spending Account will receive two “Benny” MasterCards to use for their medical, dental or vision co-pays or deductibles.
Claim form link: http://www.chard-snyder.com/images/stories/FSA_-_Claim_Form.pdf
Customer Service Phone Number: 1-800-982-7715