Flexible spending accounts (FSA) and health saving accounts (HSA) are pre-tax benefits that aid employees in saving and paying for qualifying medical costs.
FSAs are typically funded solely by the employee and funds must be used by December 31.
HSAs can be funded by employees, employers, or both and are carried over year after year.
Paycor’s has an abundant supply of resources published online for your reference. Contact our team here to learn how Paycor can help your organization with benefits administration needs.