Below are the different types of reimbursement accounts available:
Medical Reimbursement Account: This account is used for paying for medical expenses such as deductibles and co-payments, prescriptions and over the counter medicines, dental expenses, vision care.
Adoption Assistance Account: This account contributes on a pre-tax basis by an employee for qualified adoption expenses incurred in connection with the adoption of a child may be exclude from an employee’s gross income.
Dependent Care Account: This account is used for tax-free reimbursement of child care or other dependent care expenses.
Fringe Benefits, Transportation Account: This plan is used to reimburse your employees with pre-tax dollars for qualified parking and transit expenses incurred on or near your business premises.
Contact us at CPI-HR for more information about our flexible spending accounts.