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The BASE® 125 Flexible Spending Account (FSA) allows employers to diminish the burden of rising health care costs through tax-free salary deduction, while employees benefit from increased take-home pay. Both employers and employees can reap the rewards that the BASE® 125 FSA has to offer.
The BASE® 125 FSA offers several advantages to the employers who offer this program. The pre-tax contributions made by the employees reduce the employer's FICA tax liability. The BASE® 125 FSA provides employers with an ideal solution to provide their employees with an additional benefit while enjoying immense tax savings.
Employees are also able to benefit from participation in a BASE® 125 FSA. Employees contribute specified amounts of pre-tax dollars in their FSA account to pay for out-of-pocket medical expenses and dependent care costs. By setting aside these dollars pre-tax, employees are able to increase their take-home pay.
The BASE® 125 FSA benefits both the employer and the employee in a multitude of ways. Contact one of our Benefit Specialists today to find out more about how a flexible spending arrangement can work for you.
NOTE - If you are an employer interested in providing your employees the option of paying their group insurance premiums only on a pre-tax basis, check out the Premium Only Plan offered by BASE®.
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