How to offer FSAs to your employees

October 04, 2019
When you offer flexible spending accounts (FSAs) to your employees, they can set aside pretax dollars to pay for eligible healthcare and dependent care expenses. Here are the steps to take to offer FSAs to your employees.

The Board of Pensions offers two types of flexible spending accounts (FSAs) — a healthcare and a dependent care FSA. Whether you want to offer FSAs to employees for the first time, or renew your current FSA arrangement for 2020, you will work directly with Further, our flexible spending account (FSA) administrator.

Here’s what to do:

If you’re new to Further

  • Select a healthcare FSA, dependent care FSA, or both, in your Employer Agreement on Benefits Connect.
  • Complete and return the Further enrollment form you receive in an email from the Board.
  • Establish a bank account for employee per-pay contributions and your administrative fee.
  • Look for a welcome email and follow instructions to log in to the Further portal to set up your account.
  • Ask employees to complete the Employee enrollment form – FSA or your own legally compliant form. Employees will not be able to enroll on Benefits Connect.
  • Collect the forms, upload the information onto the Further portal, and keep copies of the forms for your records.
  • Begin the payroll and reimbursement process.

If you are renewing your current Further arrangement for 2020

  • When you receive your renewal packet in the mail from Further, indicate any changes to your FSA accounts and return that section to Further. If you make no changes, or do not respond, you will stay enrolled in the same accounts as this year.
  • Ask employees to complete the Employee enrollment form – FSA or your own legally compliant form. Employees will not be able to enroll on Benefits Connect.
  • Collect the forms, upload the information onto the Further portal, and keep copies of the forms for your records.
  • Begin the payroll and reimbursement process.

For details, check out the Employer Information and Administration section of the Flexible Spending Accounts Employer Toolkit.

If you have questions about how to offer FSAs to your employees, call the Board of Pensions at 800-773-7752 (800-PRESPLAN), or Further Employer Support at 855-363-2583.