Small Business Health Insurance - Flexible Spending Accounts
Flexible Spending Accounts (FSAs) for Small Businesses or Section 125 plans (the name refers to the section of the Internal Revenue Code) are also called cafeteria plans, flexible benefits plans or flexible spending accounts (FSAs). These plans allow employees to save by paying for health insurance premiums, out-of-pocket medical expenses, and child/dependent care expenses with pre-tax dollars. The company saves by paying lower matching Social Security and Medicare contributions. However, all dollars placed in the account will be compromised if not spent by the end of each year.
Who qualifies?
Same as an HRA; Any employee who meets the employer’s health benefits eligibility criteria and who are not enrolled in an HSA, however self-employed individuals are not eligible. FSAs can be attached to almost any COSE Health Insurance Plan.
Review FlexSave - Flexible Spending Program
see all Alternative Funding Solutions
COSE is your complete small business health insurance benefits partner.
For more information on COSE Health Insurance call