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Cafeteria Plan Administration
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With this plan, the employee can pay for their portion of the group health insurance expenses on a tax-free basis. As healthcare expenses change, employees elections can also be adjusted. |
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This account allows employees to plan ahead and set aside tax-free dollars for unreimbursed healthcare expenses, as defined by IRS Code Section 213(d). Employees should conservatively pre-determine what their healthcare expenses will be for the coming year. Employees are reimbursed with tax-free dollars from their account after submitting a reimbursement form, along with other required information. Participants must incur the expenses within the plan year or they forfeit the money in their account.
to lean more about FSAs |
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This account allows employees to pay for child or elder care expenses with tax-free dollars. These expenses must be incurred while the employee is working or a full-time student, and must be for the care of a Section 125 tax dependent. Employees are reimbursed with tax-free dollars from their account after submitting a reimbursement form, along with other required information. Employees cannot receive more than their current balance at any time.
to lean more about DCSAs |
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