An FSA allows you to provide a highly valued employee benefit at little or no cost. Employees fund their accounts through payroll deduction, offering you a reduction in payroll tax. BB&T provides the following services through SHDR, a division of BB&T:
- Plan design and enrollment assistance
- Benefit communication, including participant video
- Claims payment and administration
- Compliance and government filings
- Online account management
As a pretax benefit, an FSA allows employees to save up to 40% on eligible out-of-pocket health care and dependent care costs. Eligible expenses are easily paid using a prepaid FSA debit card. Online account access makes plan management simple.
- Savings on health care and dependent care costs
- Fewer claims to file with FSA debit card
- Auto-substantiation of eligible expenses at participating merchants
- Online account management
Plans sponsors and participants have 24/7 access to account information and educational material online.
Sponsor Access
- Enroll new participants
- Update employee addresses and other personal information
- View consolidated accounts
- Generate reports
- Find answers to common employee questions
Participant Access
- Check balance and personal information
- Submit claims and check claims status
- Review lists of eligible expenses
- Find participating pharmacies and other merchants
- Get answers to common questions
- Use tools and calculators
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