Estimate potential FSA plan tax savings for your business.
Flexible spending accounts (FSAs) provide tax savings to businesses. Employers save 7.65% in social security taxes on every dollar that FSA participants contribute to the plan. This 7.65% in tax savings can be enough to offset the costs of offering the BESTflex Plan in some cases.
Our statistics indicate that approximately 35-40% of employees participate. For your reference, the average health care flexible spending account election is $1,200, and the average dependent care flexible spending account election is $3,300. Fill the fields below to calculate your employer savings! (All fields are required.)