Flexible spending accounts (FSAs) and transit accounts help your employees save on taxes and budget and pay for health care, dependent care and commuter costs. And, they save you money in payroll taxes.
Benefits for you and your employees
An FSA can add value to your existing benefits package, helping you attract and retain employees and empower employees to make smart spending decisions.
In many cases, FSA programs can pay for themselves by lowering your FICA taxes on employee payroll and possibly what you pay for other benefits plans, such as workers' compensation and disability, that are based on employees' taxable income.
Savings example
An employee elects to have $100 withheld from every biweekly paycheck and deposited into his or her FSA.
|
Employee saves |
Employer saves |
| Federal income tax – 25% |
$25.00 |
$0.00 |
| State income tax – 5% |
$ 5.00 |
$0.00 |
| FICA – 7.65% |
$ 7.65 |
$7.65 |
| Tax savings every paycheck |
$ 37.65 |
$7.65 |
| Tax savings annually (26 pay periods) |
$978.90 |
$198.90 |
Additional benefits for you and your employees include:
- Reduced administration — Plan participants can manage key aspects of their accounts online and enjoy the convenience of our simple claims and reimbursement process.
- Flexibility — We will work with you to customize your FSAs and transit accounts to best meet your business objectives and your employees' needs.
Add an OptumHealth FSA to your benefit plan
Call 1-866-427-6804 or e-mail engage@optumhealth.com to reach an employer relations representative.
Hypothetical example is presented strictly for educational purposes and doesn’t include other potential factors, such as pretax contributions to a qualified retirement plan, mortgage or other deductions.
We can administer your FSA program from start to finish. 