What is a Flexible Benefit Plan and how can it benefit me?
A. A Flexible Benefit Plan allows you to pay for necessary eligible expenses with pre-tax dollars. When you set aside money before the government deducts taxes from your paycheck, you save up to 30%–35% (or more depending on your tax bracket) on expenses that you already have. These expenses can include medical, dependent day care costs and health insurance premiums. The Plan is designed to allow you to participate in any, or all, of the benefits that your employer offers, to any degree (see below for limits). This means that you can tailor the Plan to suit your needs.
