Employee Benefits Corporation is our third party administrator for our Medical Flexible Spending Account (MFSA); Dependent Care Flexible Spending Account (DFSA); Limited Flexible Spending Account (LFSA) and Health Savings account.
Medical Flexible Spending Account (MFSA) – Employees who are covered under the Traditional PPO Plan can elect to shelter a portion of their salary from taxes and use the dollars to pay medical, dental and vision expenses not covered by insurance for themselves and/or their dependents.
Health Savings Account (HSA) – Employees who are covered under the High Deductible plan receive College dollars into their HSA account. The amount for employee only coverage is $600 annually and for employee plus coverage the amount is $1200 annually. Employees can elect to add to their HSA by electing a portion of their salary from taxes and use the dollars to pay medical, dental, and vision expenses not covered by insurance for themselves and/or their dependents.
Limited Flexible Spending Account (LFSA) – In addition to the HSA account, Employees who are covered under the High Deductible Health Plan have the option to enroll in this Limited FSA account plan and use the money to pay for dental and vision expenses for themselves and/or their dependents.
Dependent Care Flexible Spending Account (DFSA) – All Employees can elect to shelter a portion of their salary from taxes and use the dollars to pay for dependents (under the age of 12) day care expenses.
See annual employee open enrollment benefits guide for annual limits of each account.
For forms and more information on each of these programs please visit their website at https://www.ebcflex.com.
