Flexible Benefits

Foy also offers a competitive Section 125 Flexible Benefits program in-house. As a licensed, qualified Third Party Administrator (TPA), we customize a program that meets the needs of your business and your employees, such as:

• Premium Only Plans (POP)
• Health Care Spending Accounts (HCSA)
• Dependent Care Spending Accounts (DCSA)
• Full Flex Dollar Allocation Plans (Cafeteria Plans) 

Additionally, as your plan administrator, we follow and implement all IRS plan requirements, for example:

• Written plan document that includes plan descriptions, eligibility rules governing participation, maximum employer and employee contributions, benefits period and discrimination testing
• Summary Plan Document that outlines and summarizes the benefits under the plan, plan provisions, administration, disqualification, and claim procedures
• Annual Compliance Reporting

Our in-house program ensures both you and your employees will have a very positive experience in the operation of your Flexible Benefits program because:

• Claims are processed and paid daily, within 24 to 48 hours of receipt, which is unique in this industry. (Via direct deposit, U.S. mail, or instantly with a debit card)
• For your convenience, participants may create an online account through our website at www.pcfoy.com for claims tracking and details.

Need information about your 2012 Tax Rates for Dependent Care Credit vs. Dependent Care FSA? CLICK HERE