FLEXIBLE SPENDING ACCOUNTS
Flexible Spending Accounts (FSA) provide significant pre- tax savings to employees and employers alike. Employees save nearly 30% on their eligible healthcare and/or dependent care expenses. And employers save on payroll taxes for each and every dollar of employee participation.
The TASC Card Simplifies FSAs
FlexSystem FSA Participants need an easy way to handle healthcare and dependent care expenses and the TASC Card provides it. Participants can use this prepaid Mastercard® at point of purchase to pay for eligible FSA expenses. Doctor’s co-pay? Prescriptions? Daycare? With a simple swipe of the TASC Card Participants pay qualifying expenses directly from their FlexSystem balance. No need to request a reimbursement.
And when they need reimbursements, Participants don’t have to wait for a paper check or direct deposit to their bank. Reimbursements are automatically loaded into the TASC Card’s MyCash account and held separately from FSA dollars. MyCash funds for any type of purchase where Mastercard is accepted. They can also with- draw MyCash funds via an ATM, making the TASC Card a cash card AND a benefits card.