Flexible Spending Accounts

Flexible Spending Account or FSA are designed to allow for employees to use pre-tax money for approved medical, dental, vision or dependent care expenses. These plans can be funded solely by the employee or with employer contributions. All funds must be used by the end of the plan year or the money reverts back to the employer.

American Benefits Services provides the following administration services for your FSA plan:

  • Document preparation and amendments for filing with the Department of Labor
  • Corporate Resolution Adopting/Amending Plan
  • Discrimination Testing
  • Custom Form Design
  • Computer Setup and Eligibility Entry
  • Record Keeping and Recording
  • Flexible Spending Claims Payment
  • Signature Ready Form 5500 Preparation if needed
  • Accounting Functions as required by the plan
  • Continued Administrative Support for Employer and Employees
  • 24 Hour Account Info Access via the Internet

Other Services

American Benefits Services provides additional options to help your employee programs run as smoothly as possible. This includes:

Web Access to Accounts: ABS will provide online access to employers and employees which allows for employers to add or terminate employees and make changes to employee eligibility. Meanwhile employees can change contact information and view their current balance and past transaction history.

Debit Card Administration: ABS ensures that all employees using the FSA services will have access to a Debit Card. This allows for smoother processing without the need for claims filing and can provide instant access to account funds. All funds can be accessed in real time and can be verified by the employee.