Get Paychex Fsa004 2012-2025

There are typically three ways to access your FSA money. You can use a smart debit card connected to your account, pay providers directly through your online portal, or submit receipts for reimbursement. Check with your employer to find out which options they offer.

Also known as a medical FSA, a health care flexible spending account allows employees to use pretax funds for qualifying out-of-pocket medical expenses like co-pays or deductibles. Money becomes usable upon enrollment, which is funded via payroll deduction.

Grace period. You can elect to offer a 2.5-month grace period after the plan year ends for enrolled employees to claim reimbursement of FSA funds. If you offer the Grace Period, any contributions remaining after the Grace Period are forfeited. Remaining money stays with the employer.

Regular payroll deductions help you spread out medical, dental, vision, orthodontia, and dependent care expenses over the year. Enroll. You can enroll on our participant website at https://benefits.paychex.com or by phone at 877-244-1771.

A Flexible Spending Account (FSA, also called a “flexible spending arrangement”) is a special account you put money into that you use to pay for certain out-of-pocket health care costs.

Paychex Flex® is our all-in-one HCM, PEO, and HR software.

HSAs and FSAs both help you save for qualified medical expenses. HSAs may offer higher contribution limits and allow you to carry funds forward, but you're only eligible if you're enrolled in a HSA-eligible health plan. FSAs have lower contribution limits and generally you can't carry over funds.

A flexible spending account (FSA) is a tax-advantaged account offered by an employer so that employees can set aside part of their earnings to pay for qualified expenses. Monies deducted from employee earnings into an FSA account are not subject to payroll taxes, which results in savings for the employee.