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FSA

A Flexible Spending Account allows employees to put aside pre-tax dollars to pay for their out-of-pocket health and/or dependent care costs. Flexible benefit plans are structured in a variety of ways, ranging from simple "premium conversion" programs to full flex, or "cafeteria" plans, which offer employees a selection of benefits from which to choose. The employee's contributions are payroll deducted and deposited into an account maintained by the employer. When the employee incurs an expense for one of the qualifying benefits, the employer reimburses the employee from the money deposited in their individual account. These reimbursements are not subject to federal income tax, Social Security tax, and most state and local taxes; therefore, it provides employees with tax-free benefits while providing the employer with a means to reduce employment expenses.

2024 Shortlister Top Vendor

Medcom is a Shortlister TOP VENDOR for Q4 2024! We continue to be at the top of the list for our consumer-driven health plan administration solutions. Shortlister is the #1 marketplace for employers and consultants to find and select providers in the benefits administration field. To determine top vendors, Shortlister evaluates company size and stability, business performance, and market presence, also known as "buzz factor."  Medcom is honored to receive this recognition!

FSA Eligible Expenses

You can find a list of FSA, DCAP, and other eligible expenses here.

To search by account type, scroll to the middle of the page and choose your account.