Flexible Spending AccountsThe FSA principle is the same as the POP. Yet, an FSA allows you to expand the range of pre-tax deductions to include dependent care, dental, vision care, as well as out-of-pocket medical expenses such as deductibles and co-payments.
By offering these programs, employers can reduce their payroll taxes up to 7.65 percent for every pre-tax dollar contributed by their employees. In addition, these programs have been time consuming and confusing to administer.
CPS streamlines the process for both the employee and the employer. Through payroll integration, the set up, ongoing administration and expense reimbursement process is fully integrated.
|Medical Expense Reimbursement - Pre-tax out-of-pocket medical expenses and save up to 35%.|
Medical Expense Reimbursement - Pre-tax out-of-pocket medical expenses and save up to 35%.
This plan allows employees to pay for out-of-pocket medical expenses not covered by insurance like: deductibles, co-payments, prescriptions, dental expenses, vision care, glasses, contacts, etc. Again, this plan puts more money in the employee's pocket and reduces your payroll taxes.
|Dependent Care Plan - Pre-tax up to $5000 in dependent care costs.|
Dependent Care Plan - Pre-tax up to $5000 in dependent care costs.
A dependent care plan allows you to pay day-care expenses with pre-tax dollars. This is big - your employees can save thousands and so can you. For employees with growing families or senior care responsibilities, a dependent care plan is a great way to reduce the financial burden on your employees. The result is a more content and more productive workforce.
|Transit & Parking Reimbursement Plan - Save up to 35% on commuter and parking fees.|
Transit & Parking Reimbursement Plan - Save up to 35% on commuter and parking fees.
Transit & Parking Reimbursement Plan allows employees to pre-tax up to $115 a month in mass-transit and $220 in parking fees. If your employees are commuting and parking costs are high, this can be a great employee benefit. When they save, you save.
Keeping It Simple
- Integrates with payroll
- Increases employee take home pay
- Saves taxes for your company
- We handle design, administration, and compliance