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Flex Plan With the face of healthcare changing so dramatically over the past few years, employers are now trying to offer their employees a benefit package that matches their needs. This means offering flexible options, such as those from take care®, that can work for a variety of lifestyles and circumstances. A Flex Plan allows employees to choose benefits that can best serve them. There are a wide variety of benefits offered through Flex Plan Programs. These services include healthcare flexible spending accounts, dependent care accounts and commuter benefit accounts. Under each of these plans, employees can use pre-tax dollars to pay for expenses they incur in each area every month. This can lead to an increased tax savings of up to 40 percent! How Can Flex Plan Programs Work for You? So why participate in a Flex Plan? Other employer-sponsored benefits programs do not cover benefits offered under a Flex Plan. For example, flexible spending accounts work in conjunction with employer-sponsored health plans, not instead of them. They can be used to pay for items not reimbursed or covered under a traditional health insurance plan. Employees are not required to use all of the potential benefits offered by an employer. Each part of a Flex Plan is optional. By choosing not only which benefits to participate in, but also how much is contributed each month, employees have more control over their healthcare dollars. Since contributions are made on a pre-tax basis, employees pay less in federal, state and social security taxes, thereby ending up with more money in their pockets every month. |
Additional Topics Consumer-Directed Health Plans Consumer-Driven Health Accounts Dependent Care Flexible Spending Accounts Flexible Health Spending Accounts Flexible Medical Expense Accounts Healthcare Flexible Spending Accounts Health Reimbursement Arrangements IRS Section 125 Cafeteria Plans Medical Expenses and Income Tax Plan for Medical that Health Insurance Doesn't Cover Save 25% to 40% on Health Expenses Save on Co-Pays and Over-the-Counter Medications Save on LASIK and Orthodontic Costs Section 125 Plan Administration |
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