FSA
Administration

Nationally recognized FSA administrator specializing in technology and service.

FSA Administration features that benefit you:

Employer saves 7.65% on every employee dollar contribution

Fastest reimbursement available

One benefit card for all participant accounts

FSAs fall under IRS regulations but not all FSAs are created equal.
BASIC provides superior responsiveness for clients and participants. Our innovative technology provides the best experience for employees while taking advantage of this money saving benefit.

FSA Accounts just got even more flexible!

Over-the-counter (OTC) medications and menstrual products are now FSA-eligible with the enactment of the CARES Act.

OTC medicine such as pain relief, allergy pills, cough, cold, flu, and stomach remedies
Menstrual products including tampons, pads, liners, sponges, and cups

BASIC FSA makes the most of your employer sponsored benefit plan

Easy enrollment through electronic files (EDI)
Ongoing eligibility & funding management
Online CDA System to view all plan activity for you and your employees
Client reports by single benefit account or aggregated combining all benefit accounts

Our guaranteed compliance includes all legal plan documents, administration manual, and non-discrimination testing
Pricing is based on participation, giving the same advantage to any size group
Participants will love our superior benefit card technology which auto-approves 85% of transactions, all within the guidance of the IRS regulations

BASIC Consumer Driven Accounts (CDA)

A cutting edge integrated system allowing employers and participants to manage all their benefit plans with one card, one website, and one mobile app.

Employers can choose to enrich their benefits package with a wide range of healthcare benefit accounts like FSA, Simple HRA, or HSA.
Combine with a variety of available benefit accounts such as Dependent Care, Commuter, Wellness Rewards, Employee Crisis, and Education Reimbursement.

Included with all CDA Accounts:

BASIC Card

All participant benefit accounts and MyCash account are linked to a single card.

Proprietary smart card technology withdraws funds from the appropriate account(s) based on plan design and expense eligibility.
The BASIC Card can be used anywhere Mastercard is accepted.
Learn more about the BASIC Card

BASIC Benefits App

With a single app, participants can manage all their BASIC benefit accounts.

Participants can request and submit manual reimbursements or select Picture to Pay provider.
Check expense eligibility anytime, anywhere.
Lock or unlock the BASIC card if lost, stolen, or found.
Learn more about the BASIC benefits app.

MyCash

MyCash is an unrestricted post-tax reimbursement account linked to participants’ BASIC Cards.

Reimbursements are deposited directly into the participants’ MyCash accounts.
MyCash enables the fastest reimbursement time possible. Faster than check or direct deposit!
Participants can use their BASIC Card to access MyCash funds or they can be transferred to another bank account.
Learn more about the MyCash account.

Picture to Pay

In three quick steps, participants can have BASIC pay healthcare providers directly on their behalf with our “Picture to Pay” feature. No paper, no postage, and no hassle for the participant. All with no additional fees for employers!

Participants take a picture of the provider’s bill
Submit the photo to the BASIC Benefits app
BASIC pays the provider from the appropriate benefit account

We’re happy to help

Dedicated FSA account managers
Average hold time is fewer than 30 seconds
Our customer service representatives are readily available for participant questions on eligible expenses

What is an FSA?

Flexible Spending Accounts (FSA) are part of the IRS Section 125, also known as a cafeteria plan. FSAs are an employer sponsored benefit that allows employees to set aside money on a pretax basis for qualified medical and/or child care expenses. Learn more about FSA regulations in our Section 125 FSA white paper.

The IRS regulates what services or purchases are eligible under Section 125. Each benefit under Section 125 has maximum contribution limits and guidelines for when elections can change. Current IRS limits can be found at our Regulations Page.

Medical FSA:

Insurance deductible
Co-payments and coinsurance
Prescriptions
Dental or vision expenses
Over-the-counter medicine*
Menstrual products including tampons, pads, liners, and cups*

* Eligible under the CARES Act of 2020

Dependent Care:

FSAs can also be established to pay for certain expenses to care for dependents while the legal guardian is at work. While this most commonly means child care, for children under the age of 13, it can also be used for a dependent of any age who are physically or mentally incapable of self-care.
Unlike a medical FSA, dependent care is a pay as you go account. Learn more about Dependent Care FSA at our blog.

Premium Only Plan (POP):

POP Plans allow employees to pay for their employer’s sponsored health plan premiums before taxes. Regulations require a legal plan document to offer this benefit.

Limited Purpose FSA:

Limited Purpose FSAs were designed to work in-conjunction with Health Savings Accounts (HSA). Participants who elect a Limited Purpose FSA can pay for dental and vision expenses with pretax funds. This plan helps employees save money while retaining their HSA eligibility. Learn more about BASIC HSA.

Give your employees the ability to leverage pretax savings, request an FSA proposal today!