Reimbursement Accounts: FSA/HRA/HSA/QTB

Flexible Spending Account (FSA)

When members choose to contribute to an FSA when electing their benefit plan, the deduction is automatically withheld from their paycheck, and set aside for them to use for qualified medical or dependent care expenses. This means that members save money by using tax-free funds to pay out-of-pocket medical, dental, vision and dependent care expenses.

Health Reimbursement Account (HRA)

Coupled with your medical plan, an HRA can help you combat the rising cost of health care. An HRA is an employer-funded, tax-sheltered account to reimburse employees for allowable medical expenses. Established under Internal Revenue Code Section 105, this employee benefit plan allows members to pay for certain out-of-pocket health care expenses while you remain in control of how the dollars are spent.

Health Savings Account (HSA)

As health care costs continue to soar, finding ways to offer affordable health benefits to your clients is a challenge. An HSA solution from Lifetime Benefit Solutions can give your clients more spending money per paycheck while they save money on out-of-pocket health care expenses.

We know that the benefits of an HSA vary based on the unique lifestyle and financial goals. This makes it difficult and time consuming for you to explain the benefits of an HSA in a way that resonates to help your clients and their employees use or sign up for an account.

That’s why we’re introducing My HSA Planner.

Qualified Transportation Benefit (QTB)

A (QTB) is an employee benefit plan that allows members to pay for commuting expenses with pre-tax dollars.