FLEXIBLE SPENDING ACCOUNTS
Employers can expect to save approximately 8% of every dollar spent pretax by their employees. Through Alice, there are no setup fees, maintenance fees, or out-of-pocket costs to your business. Alice earns half of what you save on payroll taxes each pay period and is always free for employees.
There are three kinds of Flexible Spending Accounts (FSA’s). Each has slightly different eligibility requirements and covers different expenses.
General Purpose FSA
The list of eligible FSA purchases is comprehensive. You can see eligible purchases here. The most common eligible expenses include, but are not limited to:
• Doctor visits and copays
• Dental treatments (like X-rays, cleanings, fillings, sealants, braces, and tooth removals)
• Glasses and contact lenses
• Vision exams
• Chiropractic care
• Birth control
• Flu Shots
• Hearing aids and batteries
• Surgery (not cosmetic)
• Physical Therapy
• Ambulance and emergency health services
• Over the counter drugs if prescribed by a doctor
Check with your CPA on potential corporate tax implications.