BRMS Tax-Deferred Healthcare Cost Management

Nobody knows more about saving benefit dollars than BRMS. We help you develop and administer Flexible Spending, Health Spending and Health Reimbursement Accounts — tax-effective choices for managing health-related expenses to reduce both your, and your employees' healthcare expenses.

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Flexible Spending Accounts (FSAs)

FSAs offer a
win-win situation
for both you
and your employees.

With tax advantages for both the employer and the employee, Section 125 of the Internal Revenue Code allows employees to fund a Health Care Flexible Spending Account — a method of developing a spending account to pay for certain out-of-pocket healthcare or dependent care costs on a pretax basis.

By sponsoring Flex Spending Accounts (FSAs), you offer a win-win situation for both you and your employees. By allowing your employees to allocate pre-tax earnings to specific savings accounts designated by the IRS, you help reduce FICA tax for both of you.

Health Spending Accounts (HSAs)

Health Spending Accounts are savings accounts used to pay for unreimbursed healthcare expenses. These accounts can accumulate tax-deferred interest similar to individual retirement accounts (IRAs).

Functioning as a "bank" account, funds are controlled and owned by the account holder. Either the employee or employer makes contributions, calculated as a percentage of salary, flat amount or a combination of both.

Health Reimbursement Accounts (HRAs)

Health Reimbursement Accounts are funds set aside by employers to reimburse employees for qualified medical expenses.

Just as an insurance plan reimburses covered individuals for the cost of services incurred, this account reimburses employees for qualified medical expenses.

Employers qualify for preferential tax treatment of funds placed in a health reimbursement account in the same way that they qualify for tax advantages by funding an insurance plan.