flexible spending account administration (fsa)

Howell can implement and manage your employee Flexible Spending Account Program (FSA) which allows employees to set aside before-tax earnings for covered health, dependent care and commuter/transit expenses. Howell helps employers take advantage of the significant tax savings associated with offering an FSA program.

Employer Advantages:

  • Improves employee satisfaction by offering flexibility and choice
  • Reduces various payroll taxes - for example, employer Social Security contributions are reduced for each dollar of employee participation
  • Controls medical costs without limiting employee choices
 

Employee Advantages:

  • Lowers taxable income resulting in reductions such as Social Security, Medicare, Federal and State withholding tax (may vary by state)
  • bullet Receives non-taxable reimbursements for eligible expenses, out of pocket deductibles, coinsurance, and co-pays, over the counter remedies, lasic surgery, mass transportation and parking, and dependent care
  • bullet Debit card eliminates paperwork and cash requirements at the point of service