Looking for a way to save? Let Aflac help your clients make tax savings easy for them while they give their employees the savings they deserve through Aflac Section 125 Cafeteria Plans. Aflac helps companies administer premium-only plans and flexible spending accounts (FSAs) provided by WageWorks®.
With Aflac cafeteria plans, your clients reduce their employees’ taxable income, which also allows your clients to reduce their share of FICA and FUTA taxes. This could mean a savings for your clients and their employees.
The administration of flexible spending accounts doesn’t have to be complicated. WageWorks can work with your clients to implement and assist with administration of the flexible spending account plan at little or no cost.
- Their employees sign up for the flexible spending account plan and estimate the amount of anticipated out-of-pocket medical expenses for the year.
- Then, they have the corresponding amount deducted in equal installments from each paycheck.
- As their employees incur medical or dependent care services, they submit paperwork (or use their take care® Card, if eligible) and get reimbursed with their own tax-free dollars.
Not only do you enhance your clients' benefits package by making Aflac insurance policies available to their employees on a pre-tax basis, but your clients actually save money too. Extend their savings with unreimbursed medical (URM) and dependent day care (DDC) FSAs.
Convenience and ease of use are essential to attaining high utilization rates with any flexible spending account plan. The take care® Card is a fast and easy way for the employees of your participating clients to access URM funds at the point of purchase. It looks and works like a credit card, eliminating the need for your clients' employees to use out-of-pocket dollars to pay for eligible medical, dental, and prescription expenses. Your clients benefit by reducing the administrative costs associated with managing a paper process and their employees benefit by accessing their URM funds directly. There is no need to wait for claims to be processed and funds to be reimbursed
To get more information about an Aflac WINGSPANSM flexible spending account program, have your clients contact WageWorks at 855-299-4385.