Explore our related content Flexible and voluntary benefits have only begun to gain popularity in the past 20 years, in line with a trend towards a more individualised approach to reward. The personalisation and flexibility of such schemes can address the diverse needs of the workforce, and also provide a cost-effective approach to benefits provision. When adopting such schemes, employers need to ensure that employees understand the reasons for and advantages of flexible benefits and the implications of their choices, making communication and education key elements in the provision of flexible and voluntary benefits. This factsheet explores the background and rationale behind flexible and voluntary benefits, identifying the distinction between the two, and addresses the issues and considerations of organising and implementing flexible or voluntary benefits schemes.
Flexible Benefit Plan Information Health Care Luther College provides a "flexible benefit" package designed to reduce employee tax liabilities. The reimbursement account helps the employee save, in pre-tax dollars, the money needed to cover certain medical expenses not covered by insurance.
Premium payments for health coverage and dental insurance can also be tax sheltered. Please examine your health and dental insurance plans to estimate what your out-of-pocket expenses will be.
You may submit claims as expenses are incurred during the year and will receive full reimbursement up to your maximum annual contribution. Funds will be returned to you upon proof of payment for non-reimbursed medical and dependent care expenses. Remember that claims must be incurred no later than March 15 of the following year.
You have until March 30 to file for these funds. Any balance in the account after March 30 must be forfeited in accordance with IRS rules. Dependent Care The dependent care features provide the option to tax-shelter the amount you pay for dependent day care expenses if these amounts are paid to permit the employee and spouse to be employed.
This option may be taken instead of the tax credit on your individual federal tax return. Unlike the health care account, your dependent care account will be funded as you contribute to it and you will receive reimbursement for actual expenses.
Like the Health Care Account, any balance in your account after March 30 must be forfeited. A Qualifying Event is any of the following: Please contact Human Resources for a plan document or change form.
The site includes information of what are and are not allowable expenses. Claim forms may also be printed from this site.Members. Administering your benefits should be easy. We are here to answer your questions quickly, process your claims accurately and give you all the support you need anytime, anywhere.
Publication B - Employer's Tax Guide to Fringe Benefits - Employer's Tax Guide to Fringe Benefits Cafeteria Plans. A cafeteria plan, including an FSA, provides participants an . Flexible Benefits.
About Us; Contact Us; Search form. Search. Contact Us. To better serve you, please complete the form below.
If you have a specific question, please explain in the comments/message box. A Flex representative will get back to you shortly. Flexible Benefit Service Corporation Headquarters W.
|The single-source provider for all your benefits administration needs||Contact Us Flexible and online benefits We now have four generations in the Irish workforce for the first time. We also have an ever changing dynamic in the workplace with flexible working, dual income families and a growing international workforce.|
|Flexible Spending Accounts Program||Employee Benefits Flexible benefit plans allow employees to choose the benefits they want or need from a package of programs offered by an employer.|
|READ OUR BLOG TO STAY UP-TO-DATE ON THE LATEST||Employers provide employees with flex credits that they can use to purchase the benefit plans that they want.|
|Flexible Benefit Service Corporation||Nursery and preschool Summer day camps The maximum contribution depends on your tax filing status. The amount is deducted in small, equal amounts from your paychecks during the plan year.|
Bryn Mawr Avenue, Suite. The SSPC Flexible Benefits package allows you to customize your membership to get the most value for your company. No matter what level of membership you choose, you decide what works best! Flex Points can be used on training courses, books, exhibit discounts, individual memberships, QP .
View our video about flexible benefits plan changes that became effective January 1, Select from the list below for more information about Lehigh's health care benefits.
About us. Celebrating our 30th Anniversary in , Flexible Benefit Service Corporation (Flex) is a leader in the health insurance and benefits administration markets.