Product Overview
BASIC FSA Administration
A BASIC medical FSA allows employees to use pre-tax dollars for eligible medical, dental, vision, prescription, copay, and coinsurance expenses—saving 15–40% based on tax bracket, while employers save 7.65% in FICA taxes on contributions. Participants enjoy convenient access through the BASIC Card, which auto-pays many eligible expenses, and MyCash for fast reimbursement of ineligible or mixed transactions. BASIC’s mobile app includes Picture to Pay, enabling employees to submit medical bills instantly. CARES Act rules also allow OTC medications and menstrual products.
BASIC provides complete compliance support, SPD, eligibility verification, nondiscrimination testing, and Form 5500 filing when required. Administered through the Consumer Driven Accounts (CDA) platform—one card, one website, one mobile app—employers gain real-time visibility and streamlined administration.
With modern tools, fast processing, and expert compliance, BASIC’s medical FSA delivers a seamless, high-value benefit for employees and employers.
We also administer:
- Dependent Care FSA
- Limited Purpose FSA
- Premium Only Plan (POP)
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