What are pre-tax savings and post-tax savings? Understanding taxes relating to health savings accounts (HSAs), flexible spending accounts (FSAs) and other benefits plans can be time-consuming and difficult to explain. Pre-tax savings are tied directly to FICA taxes. You may be wondering what FICA is and how does pre-tax savings work for HSAs and FSAs?...
Choose a Dependent Care Assistance Plan
The last few years have shown the impact childcare has on day-to-day-life. Taking care of another person, whether it be your child, parent or grandparent, can cause a financial burden. Investing in a dependent care assistance plan can help relieve this stress.
Families can use up to $5,000 from their flexible spending account to pay for child (under the age of 13) or adult day care that allows the participant to work. All claims and administration duties are handled by our team at Advantage Administrators to save you time.
Covered Expenses Include:
- Home child care providers
- Dependent care centers
- Sick child facilities
- Adult elder care
- After-school care
- Extended day programs
- And more!