Employee Benefits Administration

FSAs are one of a number of tax-advantaged financial accounts that can be set up through a cafeteria plan. An FSA allows employees to contribute funds to the plan on a pretax basis through payroll deductions. Since the contributions are not subject to payroll taxes, this can lead to substantial payroll tax savings for both the employee and the employer.

Goldleaf Partners’ FSA solution offers easy-to-use online forms, reports, and self-service portals that deliver high consumer satisfaction. Also, we can stack FSA accounts with HRAs and HSAs and manage them all through a single, secure, integrated portal.

Unsure what items are eligible for FSA dollar use? Utilize Health Shopper to know for sure and easily purchase the products you need, too.

Next, HRAs are employer-funded, tax sheltered accounts to reimburse employees for allowable medical expenses. Our HRA solution offers flexible benefit options to meet unique situations. For example, employers can stack HRA plans with FSAs to:

• Cover more expenses
• Offer an employer contribution
• Customize eligible expenses, deductible, and reimbursement amounts and vary contribution amounts

Finally, HSAs are tax-advantaged savings accounts that are used in combination with a qualified High Deductible Health Plan (HDHP), offering employees an alternative way to manage their healthcare.  Employees set aside a portion of their earnings – before taxes – into an account to help pay for medical expenses.  HSA funds also belong to employees and can be carried over from year to year, so there is no use-it-or-lose-it stress.

As a result, HSAs essentially offer triple tax savings to employees:

• Federal tax deductions on contributions
• Tax-free growth on invested funds
• Tax-free withdrawals for qualified medical expenses

In summary, our solutions can help employers save money on health insurance premiums by offering HSAs along with a qualified HDHP, in addition to adding depth to their employee health benefits and retirement plans with secure, FDIC-insured financial accounts.

Unsure what items are eligible for HSA dollar use? Utilize Health Shopper to know for sure and easily purchase the products you need, too.