ABS Now Administering Health Savings Accounts!
An HSA is a bank account in which you may routinely contribute funds to pay for future qualified medical expenses. Funds saved within a given year automatically carry over. Cash contributions to an HSA are 100% tax deductible from gross income, interest on savings accumulates tax-deferred and withdrawals from an HSA, for qualified medical expenses, are free from Federal income tax penalties. What’s more, HSA compatible health plans typically have smaller monthly insurance premiums.
Contact us for more information regarding ABS Health Savings Accounts in partnership with HealthcareBank.
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Flexible Spending Accounts – a Win-Win benefit for Employers
Save on payroll taxes, compliments of Uncle Sam
As healthcare costs escalate, employers and employees are bearing the burden of higher deductibles and co-payments.
A Flexible Spending Account plan is an IRS approved tax-advantaged benefit to help employees take the sting out of escalating healthcare costs as well as rising dependent care and commuting costs. You are providing a valuable benefit to help your employees recoup some of these rising costs.
The bottom line on Flexible Benefit Plans
Your company pays less on payroll taxes… as much as 8% for every dollar deducted from payroll.
One more time…
Uncle Sam does not tax payroll dollars directed through your company sponsored flexible benefit plan… you save money. Look at this sample tax savings illustration to see how quickly your tax savings add up.
Is This a Great Country or What?
Your company pays less on payroll taxes, your employees use pre-tax dollars to recoup rising expenses and increase their take-home paycheck… all encouraged by the IRS through a tax code called Section 125.
Flexible Spending Account plans are truly Win-Win benefits for both employer and employee.
Simplify… and watch your tax savings grow
ABS helps make life easier for you as we take on all the administrative plan details. To learn more go to How to Start an ABS Flexible Benefit Plan.
Give your company a tax break… Call ABS today (877) 732-8125, for more information.