Tools to improve the financial health of your employees.
These special Flexible Spending Accounts are designed to work with Health Savings Account
(HSA) plans that many employers now offer in conjunction with a High-Deductible Health Plan
(HDHP). Limited-Purpose Flexible Spending Accounts (LPFSAs) only cover dental, vision and
hearing expenses. The rules governing the Heallth Savings Accounts do not allow the LPFSAs to
cover medical expenses.
If you offer employees a choice of medical plans, with and without HSAs, you should consider
offering both the LPFSA and the standard FSAs. The employees participating in the
HSA plan can choose the LPFSA and your other employees can choose the standard FSAs that
also cover medical expenses. These is no additional cost to offer both styles of FSAs.
In either case, you may also offer Dependent Care FSAs for employees with work-related day
When should you provide LPFSAs?
Flexible Spending Accounts are appropriate if:
Your medical plan design included a Health Savings Account
You do not offer a dental or vision plan
You have dental or vision plans but they require high out-of-pocket expenses
You have a number of employees with day care expenses
What if we are a small employer?
The BenefitsWorkshop offers a number of unique options that make these plans affordable
even if you have ten or fewer employees.
How can I order a proposal?
Simply click the button below and complete the form. You should receive your proposal within 48 hours.
Copyright © 2009. All rights reserved.
BenefitsWorkshop services are provided by JAG Enterprises, LLC.