Flexible Spending Accounts

What is a Flexible Spending Account?

Fringe Benefits Management Company (FBMC) provides you with IRS tax favored Flexible Spending Accounts (FSAs) to stretch your medical-expense and dependent-care dollars.

Flexible Spending Accounts feature:

• IRS-approved reimbursement of eligible expenses tax free
• Per-pay-period deposits from your pre-tax salary
• Savings on income and Social Security taxes
• Security of paying anticipated expenses with your FSA

Is an FSA right for me?

If you spend $240 or more on recurring eligible expenses during your plan year, you may save money by paying for them with an FSA. A portion of your salary is deposited into your FSA each pay period.

• You decide the amount you want deposited
• You are reimbursed for eligible expenses before income and Social Security taxes are deducted
• You save income and Social Security taxes each time you receive wages

For more information, read the complete FSA document (PDF).