Each year, prior to enrolling into these plans, estimate your anticipated medical expenses, dependent care and transportation expenses. Contact your Pharmacist for a printout of all paid prescriptions.
The total dollar amount you decide on is evenly deducted from your paycheck throughout the plan year and deposited into your new flexible benefit account or the accounts you choose to open. This money you’ve set aside in your flexible benefit plan has not been taxed nor will it be taxed.
The funds set aside in your Flexible Spending Account are reimbursed back to you, untaxed, for any healthcare expenses not covered by your insurance plan, certain dependent care costs, and commuting expenses.
Be sure to go to our Qualified Expenses page for a more comprehensive list of what expenses are covered.
But there’s more good news… because you’ve set aside money every paycheck on a pre-tax basis, you’ve now lowered your gross taxable paycheck by that amount. Your employer takes out less federal, state, local, Medicare and Social Security taxes. The savings may look small at first, but over the year it adds up. Think of this as a bonus in every paycheck, compliments of the IRS.
Advanced Benefit Strategies
30 Mill Street
Unionville, CT 06085
Advanced Benefit Strategies, Inc. Recognized by WEX for Outstanding Achievements
Earns Marketing Innovator Award
Unionville, CT — May 17, 2022 — Advanced Benefit Strategies, Inc. has been honored by WEX (NYSE: WEX) with a 2021 Partner Award for outstanding business achievements. Advanced benefit Strategies, Inc. recently received the Partner Award for Marketing Innovator from WEX, the global commerce platform that simplifies the business of running a business.
Advanced Benefit Strategies, Inc. was selected for this award because of its efforts in working with WEX to reach — and surpass — new heights in the consumer-driven healthcare market. Advanced Benefit Strategies, Inc. utilizes innovation and creativity to increase plan adoption and revenue generation.
The Partner Awards, established in 2008, are presented yearly and recognize WEX partner organizations that have achieved extraordinary notable accomplishments. Award recipients were recognized for reaching significant milestones in 2021 across several areas including growth, advocacy, leadership, innovation, and customer service as well as overall outstanding partner successes.
The 2021 Partner Awards were presented in nine categories: Sales Innovator, Service Innovator, Marketing Innovator, Visionary, Leadership, COBRA Partner of the Year, CDH Platform Partner of the Year, New Partner of the Year, and Partner of the Year.