Our Flexible Spending Account (FSA) works like a typical FSA – enabling your employees
to set aside pre-tax dollars to cover qualified, out-of-pocket medical expenses. This FSA
integrates seamlessly with your Preferred Care plan benefits... making administration
simpler for you and your employees. It can also be used in combination with an HRA
or HSA – as part of a complete, cost-saving solution for your organization.

Advantages – for employers

As consumers’ out-of-pocket health care expenses continue to climb, FSAs are regarded as a highly valuable part of your employee benefits package – with tax advantages for your business. An FSA from Preferred Care and MVP is even more valuable – because it works with your Preferred Care health plan. So you no longer have to duplicate administration efforts by working with a separate FSA provider.

Advantages – for your employees

It’s all about savings and flexibility. With an FSA, employees can have funds deducted from their paycheck on a pre-tax basis, and then use those funds to cover out-of-pocket medical expenses for themselves, their spouse, and their dependents – from copayments to over-the-counter medications.

Easy to access

With convenient online access, it's simple for your employees to manage their accounts. All participating employees will carry an FSA debit card, making it easy to use their account.

Simple to get started

With FSA administration from Preferred Care and MVP your employees will enjoy complete security and excellent service. To create your FSA, just call your Preferred Care Account Representative today. Flexible Spending Accounts from Preferred Care and MVP Health Care. Powerful financial tools that enable you to choose lower-cost options...made easy!

Employees can use FSA funds to pay...

• Out-of-pocket costs associated with their Preferred Care health plan, including: costs for hospital and physician office visits, prescription and medical copayments, and coinsurance charges
• Costs for health-related items such as over-the-counter medications, eyeglasses/contact lenses, dental and orthodontic care
• Out-of-pocket medical costs for themselves, their spouse or dependents

How an FSA adds up to real savings
An Employee Example

Although tax rates and savings vary, here is a basic look at how an FSA could save an employee like ”Sam” hundreds of dollars each year. In this example, Sam knows he typically spends about $1,000 dollars per year on FSA-eligible health care expenses. Instead of paying as he goes, he has the funds deducted pre-tax from his pay and deposited into his FSA.

Sam saves $226 annually with an FSA!

For more information

• Call your Preferred Care Account Representative today. You may also call
  (585) 258-8688 for more information.

Posted: May 2006