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Section 125 - Cafeteria Plans

Sometimes referred to as a cafeteria plan, flex plan, or a Section 125 plan, a Flexible Spending Account (FSA) lets employees set aside a certain amount of each paycheck into an account — before paying income taxes.

During the year, participants have access to this account for reimbursement of expenses — not covered by insurance — that they regularly pay for, such as:

- Deductibles, co-pays, and other eligible expenses not covered by insurance.
- Prescription drugs and medical supplies.
- Over-the-counter drugs that are medically necessary like allergy medications, aspirin, or antacids.
- Dietary supplements with doctor's letter of medical necessity.
- Dental services, orthodontics, and dentures.
- Eyeglasses, contacts, solutions, and eye surgery.
- Weight-loss programs with doctor's letter of medical necessity.
- Weight-loss over-the-counter drugs with doctor's letter of medical necessity.
- Chiropractic services.
- Vitamins with doctor's letter of medical necessity.
- Psychiatric care and psychologist's fees.
- Smoking cessation programs.
- Smoking cessation over-the-counter drugs.
- Adult and child daycare services.
- Adoption expenses.
- Transportation and parking expenses (Section 132 Plan).

When employees use tax-free dollars to pay for these expenses, they realize an increase in their spending power, and substantial tax savings.

The company saves too — about 8% (FICA match) on every dollar employees contribute to the plan.

Please call us at 800-986-4786 for more information about setting up a Section 125 plan.