Flexible Spending Accounts (FSA) is a great way to pay for certain out-of-pocket health care costs tax-free, creating an instant savings of nearly 30% for the employee. FSAs are an IRS Code Section 125 Cafeteria Plan and allow for you to pay less in Social Security tax for every dollar of employee participation.
Patrick Payroll enables employees to participate in Flexible Spending Accounts via our online solution, with funds being placed in the chosen benefit accounts through salary reduction. Reimbursement for qualifying expenses has never been easier via our online system for Requests for Reimbursement, daily check processing, and direct deposit services.
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