Flexible Spending Accounts

Employees Save Money by Using Pre-Tax Dollars

Flexible Spending Accounts (FSAs) allow employees to pay for certain medical, dependent care, and commuting expenses with pre-tax dollars. Savings for an average worker often exceed 40%. FSA contributions are protected from both payroll and most income taxes.

The PioneerFlex Program is an FSA solution available to groups with twenty or more eligible employees. The PioneerFlex card is issued by MBI, a subsidiary of Metavante Corporation, and the program is administered by Pioneer. Employees have access to their funds either through an mbi issued debit card or by submitting a claim form and waiting for a reimbursement check. Both methods work well. In both cases, employees takes full advantage of paying for predictable expenses with pre-tax dollars.

Pioneer utilizes the Inventory Information Approval System (IIAS), which checks for eligible medical expenses at the point of purchase. This standard is being adopted nationwide, by retailers, pharmacies, financial institutions, TPAs, and any other company involved with Flexible Spending Account transactions. It dramatically improves accuracy when identifying eligible medical expenses.

Click here to request a Flexible Spending Account proposal for your group.