Ingles Markets FSA plan, driven by Marpai Health, empowers employees to manage out-of-pocket health and dependent care expenses seamlessly. Through this program, weekly contributions are deducted pre-tax, offering substantial long-term savings. This innovative partnership allows individuals to efficiently allocate funds towards essential expenses while maximizing their take-home pay.
MEDICAL FLEXIBLE SPENDING ACCOUNT
A Medical Flexible Spending Account (FSA) is a pre-tax benefit account that enables individuals to set aside a portion of their salary to cover eligible medical expenses not covered by insurance. This account allows for contributions to be deducted from paychecks before taxes, reducing taxable income and consequently saving money on income taxes. Funds in the FSA can be used for various medical expenses, including copayments, deductibles, prescriptions, and certain medical supplies and services. It offers a valuable way to manage healthcare costs by providing a tax-efficient means to budget and pay for qualified medical expenses.
These accounts are strictly regulated by the IRS and can only be used on expenses during the current plan year. You must re-enroll in these accounts every year at open enrollment (if you wish to keep it). This benefit does not roll over.
DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT
A Dependent Care Flexible Spending Account (FSA) is a pre-tax benefit that helps cover eligible childcare expenses for dependents, like daycare, preschool, or after-school programs. Contributions are deducted from paychecks before taxes, reducing taxable income and offering savings on income taxes. It's a handy way to manage and lessen the financial load of qualified dependent care costs.
These accounts are strictly regulated by the IRS and can only be used on expenses during the current plan year. You must re-enroll in these accounts every year at open enrollment (if you wish to keep it). This benefit does not roll over. Up to $5000 maximum.
The FSA Store is an online store where you can purchase guaranteed flexible spending account (FSA) and health savings account (HSA) eligible health and wellness products, making it that much easier for members to find the products they need.
Access to the FSA store is available through the mSAVE™ portal at no extra cost to you or your members. Through our partnership, the FSA Store will provide you and your members with exclusive perks and coupons, education about what you can buy with FSA and HSA funds, and regular member email communications. Members can shop by brand, health condition, and category, making it that much easier to find the health and wellness items they need.
The FSA Store guarantees eligibility of all items in their store or your money back.
