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How
Does the Employee Benefit?
How
Does the Employer Benefit?
Flex DCAP Update
Flex & HRA Owner Eligibility Rules
What
Flexible Benefit Plan Services are Provided by FlexMagic Consulting,
Inc?
What
is My First Step? (Pre-Qualifying Checklist PDF Form)
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FLEXIBLE BENEFIT PLANS
are employer-sponsored programs that
allow employees to use before-tax dollars to pay for many regular
family expenses. The money which employees contribute to the Plan
is not subject to Federal and State Withholding Taxes or Social
Security and Medicare contributions. These payroll tax savings result
in an increase in take-home pay for participating employees and
a reduction in payroll taxes for the company. Tax-free expenses
which can be paid through a Flexible Benefit Plan include:
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Child/Dependent care expenses necessary to employment
- ($5,000
maximum per family per year)
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Out-of pocket medical, dental, and vision expenses
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Employee-paid health, dental and vision insurance premiums
-
Employee-paid disability insurance premiums
- Employee-paid
term life insurance premiums up to $50,000 in death benefit.
After-tax choices may also be offered on
a voluntary basis such as long-term care insurance, group auto,
home owners and rental insurance and Pre-Paid Legal Services.
FlexMagic: How Does it Work?
Watch the "FlexMagic Bunny & Mr. Money Show":
(this magic show lasts 2 1/2 - 4 minutes)
View Dial-Up
Version
View Broad-Band
Version
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