This calculator helps employees determine how much money to contribute to their Health Care Flexible Spending Account (FSA). It's a great way to quickly demonstrate the value of the benefit.
Employees enter in their anticipated medical, dental and vision expenses. The calculator creates a sum of all expenses and displays a suggested FSA contribution, up to the allowable amount. The calculator also provides an estimate of how much the employee will save in taxes if he or she contributes to the FSA by multiplying the tax rate field by the Flexible Spending Account contribution value.
Add this calculator to your Human Resources or Benefits communication portal to help employees understand the value of this great benefit.