NEW YORK, Nov. 21, 2018 /PRNewswire/ -- FSA administrators, Clarity Benefit Solutions, explains how FSAs promote workplacewellness.
Flexible Spending Accounts (FSAs) allow employees to receive pre-taxed benefits that are withheld from their paychecks to pay for both eligible health care and/or dependent health care expenses. Employers can use these accounts to promote
First, the employee estimates eligible expenses for the upcoming year, including any health care as well as dependent care needs. Knowing what an FSA covers can keep an employee healthierand therefore happier and more productive. FSAs can be used to pay for vision, dental, orthodontia, and hearing products. It's likely that many employees. Employees may not know that FSA funds can pay for over-the-counter and prescription medications, including insulin. Plus, FSA monies can also be set aside for medical supplies and equipment such as bandages, crutches, walkers, and medical devices such as blood sugar testing kits.
FSAs are also beneficial to employees who incur big expenses. If an employee must use all his or her FSA funds or the entire year in one day, he or she gets reimbursed immediately. The employee then has the opportunity to pay allocations over the course of the year. As a result, an employee will experience less stress.
Employees can also set aside FSA funds for a number of wellness initiatives, such as fitness programs (with a letter from a physician), Alcoholic Anonymous meetings, weight loss programs (if a physician diagnoses heart disease, hypertension, or heart disease), and massages for a specific ailment or diagnosis.
Studies show that employees who are invested in workplace wellness demonstrate improved physical fitness, weight loss, mindful eating, reduced stress, healthier habits, enhanced productivity, and overall greater happiness. This can also increase employee retention, which will save a company money long-term.
With thoughtful, careful planning, employees can learn how to make the most out of their FSAs and reap the maximum rewards from these accounts!
About Clarity Benefit Solutions: Clarity Benefit Solutions FSA Company provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
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SOURCE Clarity Benefit Solutions
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