3/16/18: Learn more about Flexible Spending Accounts (FSAs) in the Benefits Center, and changes to off-cycle payment deductions.
Learn more about offering Flexible Spending Accounts (FSAs) in the Benefits Center:
Thinking about offering your employees the option to contribute to a Flexible Spending Account (FSA)? We’ve created a new section directly in the Justworks Benefits Center where you can learn more about FSAs, determine whether your company is eligible to offer an FSA, and understand the costs associated with offering the benefit to your employees.
If you’re not eligible to offer an FSA at this time, you’ll see an explanation of the steps you’d need to take to become eligible in the future.
If you’re eligible and interested in learning more about what offering an FSA will look like for your company, in particular, you’ll be able to see more details on our new FSA summary page. Before you commit to offering an FSA, you’ll be able to preview which employees will be eligible for the benefit, as well as how the enrollment process would work for you and your team.
Off-cycle payment deductions:
We’ve updated the way we handle off-cycle payment deductions in order to allocate health insurance premiums more evenly throughout the month. Previously, an entire month’s health insurance premiums would be taken out of an employee’s off-cycle payment. Now, when an off-cycle payment is made during the first half of the month, only half of a month’s health insurance premiums will be deducted. This gives a little more predictability to the amount of money an employee can expect when receiving a off-cycle payment.