Before Debit Cards
| Flex Plan Tax Savings Illustration |
| Flex Benefit Option |
Participating |
Annual Elections |
Total Elections |
| Med Flex Spending Account |
10 |
$750.00 |
$7,500.00 |
| Dependent Care "DCAP" |
3 |
$5,000.00 |
$15,000.00 |
| Total Annual Elections |
$22,500.00 |
| The Employer Could Save |
$2,621.00
|
|
With Debit Cards
Offering debit cards can increase the participation up to 40% or even 60%.
| Flex Plan Tax Savings Illustration |
| Flex Benefit Option |
Participating |
Annual Elections |
Total Elections |
| Med Flex Spending Account |
14 |
$1,050.00 |
$14,700.00 |
| Dependent Care "DCAP" |
5 |
$5,000.00 |
$25,000.00 |
| Total Annual Elections |
$39,700.00 |
| The Employer Could Save |
$4,625.00
|
|
This can increase the employer tax savings up to an average of $105 to $170 per employee per year.