Account Options

Unreimbursed Medical Expense Accounts
The Health Care Flexible Spending Account (HCFSA) is an IRS-approved, tax exempt account that saves you valuable tax dollars on eligible medical, dental, vision, prescription, and prescribed over-the-counter expenses. When you join, you choose to contribute a set amount to your HCFSA through payroll deduction on a pre-tax basis. This means it is an amount deducted from your gross pay before federal income, Social Security, and Medicare taxes are calculated. This amount can benefit almost all eligible employees, their spouses, children and dependents. You never have to pay taxes on the money you receive from your HCFSA account for qualified expenses. It will be a permanent tax savings, which helps your health care dollars, go further.

Insurance premiums are NOT reimbursable through the HCFSA.


Child Dependent Care
Employees save 25% to 40% on the cost of daycare for children with take care.

• Employees set aside pre-tax payroll deductions in this take care account to budget for the daycare expenses of a dependent child under age 13.
• Qualified expenses include nannies, babysitters, housekeepers, nurse's fees, and registration fees to daycare facility. The cost of pre-K or nursery school, before and after school care, and day camp also qualify.
• To qualify, expenses paid for daycare must allow an employee or the employee's spouse (if they are married) to work or look for employment.
• The IRS also offers employees the option of saving for daycare with a credit that the employee can take on Form 1040.

Elder Care & Adult Daycare Accounts

Employees save 25% to 40% on the cost of daycare for elders and disabled adult dependents with take care.

• Employees set aside pre-tax payroll deductions in this take care account to budget for the daycare expenses of a dependent adult who cannot physically or mentally care for themselves.
• Qualified expenses include housekeeper and nurse's fees for services provided inside your home. Expenses are eligible to the extent they are attributable to adult care and incidental household services. Daycare expenses for services outside your home also qualify, if they are for the care of a dependent that regularly spends at least 8 hours per day in your home. 
• To qualify, expenses paid for daycare must allow an employee or the employee's spouse (if they are married) to work or look for employment.
• The IRS also offers employees the option for saving for daycare with a credit that the employee can take on Form 1040.

Adoption Assistance Accounts

The take care adoption account option is for expenses paid in connection with adopting a qualified child.

• Employees set aside pre-tax payroll deductions to pay qualified expenses, including home study and application fees, reasonable and necessary legal adoption fees, court costs, attorney fees, agency fees, medical services and counseling, travel and lodging fees, and other expenses which are directly related to, and the principal purpose of which is for a legal adoption.
• Adoption expenses that qualify for payment must be for an individual who has not attained the age of 18 at the time of the adoption, a child that is physically or mentally incapable of caring for him/herself, a child with special needs who cannot or should not be returned to the home of his/her parents and a specific factor or condition makes it reasonable to conclude that the child cannot be placed with adoptive parents unless assistance is provided as determined by a state. The child must be a U.S. citizen or resident. 

Tax Information:
Participants will save on federal and state taxes where applicable through the take care adoption account but will not save FICA (social security and medicare).

For more information, please visit www.cpnflex.com under Employees/Accounts. 

Commuter Benefit Accounts

Employees save 25% to 40% on parking and transit with take care.

• The take care Commuter Benefit Program lets employees pay for the expenses of parking near their place of employment and travel to and from work.
• Employees set aside a certain amount of each paycheck into an account - before paying income taxes.
• During the year, participants may access this account for transit and parking expenses. Payments from the account are tax-free to employees.

Premium Only Plans

The premium only plan option helps employees save up to 40% on every dollar they contribute to your health plan.

• The Section 125 Premium Only Plan (POP) saves you and your employees by reducing payroll taxes. It works by making one simple adjustment in your payroll process: Employees pay their portion of insurance premiums on a pre-tax basis.
• Qualifying premiums may include an employee's share of employer-sponsored health, dental, disability, accident, and group-term life insurance.
• The take care POP cuts your taxable payroll by reducing your employee's taxable income. So both you and your employees pay less in taxes.