Save an average of $300 per employee in payroll taxes while they take home more pay.
FlexSystem is an IRS Code Section 125 Cafeteria Plan that enables employees to pay for eligible expenses on a pre-tax basis – an instant savings of nearly 30% for the employee. For you? Benefits costs are controlled without restricting choices, and you pay less in Social Security tax for every dollar of employee participation.
How does it work?
After a paperless on-line set-up, employees place funds in predetermined benefit accounts through salary reduction. When a qualified expense is incurred, the employee submits a request and receives reimbursement. With on-line administration and submission of requests for reimbursement, daily check processing, and direct deposit, FlexSystem provides the industry’s fastest turnaround of requests.
For employees, FlexSystem means real savings, real fast!
- Toll-free customer service – including a separate line for Participants
- Requests for Reimbursement
- submissions via paper, fax, or on-line
- Instant account status availability
- on-line or on FlexSystem’s voice response system
- Enrollment or re-enrollment on-line from the privacy of your home
- FlexSystem claim (debit) card for seamless real-time payments
For employers, FlexSyatem offers real advantages!
- All plan documentation including adjustments due to National Health Care Reform ( SPD, SBC, etc.)
- Carryover feature
- Benefit Card (used for seamless payment of medical expenses)
- Online Website support for daily reporting and tracking if the client wishes.
- Wage Payment and Tax Reporting Options (Free payroll service in 43 states)
- Age 26 tracking
- Audit Guarantee
- PCORI Filing as required by Health Care Reform