Limited FSA Account
Under a Limited FSA Account, employees are reimbursed for eligible dental and vision expenses that are not covered or reimbursed under the employer’s health plan. Employees set aside an election amount up to an annual maximum determined by the employer. This election is deducted from the employee’s paycheck on a pre-tax basis, resulting in tremendous tax savings to the employee (average tax savings for participants is 25-40%!)
BMS LLC Flexible Spending Account Administration includes preparation of required Plan Documents including Summary Plan Description and Adoption Agreement, Employer Only secured website for easy submission of eligibility changes and access to full FSA reporting, comprehensive employee education, routine plan updates to our Clients based on changes in rules and regulation of Section 125, completion of required Discrimination Testing (if requested by the employer).
BMS FSA Administration features for employees includes FREE FSA Debit Card, free Mobile App for smart phones and an employee website for secure claims entry, tracking of reimbursements, and many other features. BMS FSA administration also includes daily claims review, adjudication, and processing, as well as twice a week reimbursement payments. Our dedicated Customer Services Staff is always available to answer any questions.
Find More FSA Resources
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![vision](https://bmsllc.net/wp-content/uploads/2024/08/vision.jpg)
Employee
Employee Claim Form for Flexible Spending Account.pdf
Form to complete to file for reimbursement of qualified expenses under your Medical, Limited, and/or Dependent Care Flexible Spending Account
ACH Direct Deposit Form.pdf
Form to complete and return to BMS to set up ACH Direct Deposit of reimbursements
Flexible Spending Account Worksheet.pdf
Worksheet to help calculate potential participant contribution and savings for the Flexible Spending Account
Flexible Spending Account Qualified Expenses List.pdf
Broad list of potentially qualifying expenses for reimbursement from the Flexible Spending Account
Employer
Flexible Spending Account Employee Enrollment.pdf
Form to complete for employee to be enrolled in Medical and/ or Dependent Care FSA
Limited Flexible Spending Account Employee Enrollment.pdf
Form to complete for employee to be enrolled in Medical, Limited, and/ or Dependent Care FSA
Flexible Spending Account Change in Status.pdf
Form to report an employee change in status and corresponding election adjustment for the Flexible Spending Account