Total rewards Glossary
/
Flexible Spending Account (FSA)

Flexible Spending Account (FSA)

Flexible Spending Account (FSA)

Flexible Spending Accounts (FSAs) are employer-sponsored benefit plans that allow employees to set aside pre-tax dollars from their paychecks to pay for eligible expenses such as wellness, fitness, or healthcare costs. These accounts are designed to help employees save money on their healthcare expenses and reduce their taxable income.

Ready to elevate your recognition game?

Total rewards can be intimidating—but Awardco makes it easy to build culture, drive behavior, and recognize the good around you. Learn more about how we help enhance your total rewards today.

What is the impact of FSAs?

By offering FSAs, employers can demonstrate their commitment to supporting the health and wellness of their employees. This can help to build trust and loyalty among employees, leading to higher engagement and motivation levels.

‍

How can FSAs drive employee engagement and motivation?

FSAs can help drive employee engagement and motivation by offering a tangible benefit that can be directly tied to their well-being. Employees who have access to an FSA are more likely to participate in wellness programs and take advantage of preventive care services, which can lead to improved health outcomes and reduced healthcare costs. Additionally, the ability to use pre-tax dollars to pay for eligible expenses can provide a sense of financial security and peace of mind for employees.

Best Practices

Best practices

‍

What are considerations for implementing FSAs?

When implementing FSAs, it's important for companies to educate their employees on how they work, what expenses are eligible, and how to access their funds. Employers should also ensure that their FSA program is compliant with all applicable regulations and that they have a clear plan in place for managing employee contributions, claims, and reimbursements.

Ready to see Awardco in action?

See how Awardco will build culture, incentivize performance, and power engagement in your organization.

 
Build culture, incentivize performance, and power engagement. All in one place.
English (CA)
Platform
OverviewRecognitionCelebrationsIncentivesBenefits & PerksRewardsIntegrationsReportingAwardco Intelligence
Solutions
OverviewUse CasesRoleBusiness SizeIndustry
Why Awardco
Why AwardcoAmazon BusinessCentre of ExcellencePlatform SupportCustomer StoriesAwardco AdvocatesSecurity & CompliancePlansRequest for ProposalGet a Demo
Resources
Resource LibraryBlogResearch & ReportsNewsroomTotal Rewards GlossaryKnowledge BaseACO CommunityROI CalculatorBudget CalculatorCompetitor GuideContact Support
Events
Upcoming EventsOn-Demand WebinarsSHRMRCGNZ Summit 2025
Company
About UsCareersRecognize the GoodCorporate ResponsibilitySustainabilityDEIPrivacy PolicyContact Us
© 2025 Awardco
Your Privacy Choices
*A-Pay® card Visa Commercial Credit cards are issued by Celtic Bank.

Privacy at Awardco

We value the trust you’ve placed in us when you provide us with your personal information. We use that information as detailed in our Privacy Notice

You can make certain privacy requests, but those options vary by state. We will fulfill these requests as determined by your state of residence.  

Creating a Privacy Request

What request would you like to make?
We need some information about you to authenticate your identity and process your request.

Thanks for your message!

We will reach back to you as soon as possible.

Oops! Something went wrong while submitting the form.
No actions available at this time

We are committed to consumer privacy and provide choices where we can about opting-out of marketing messages or using web browsers with privacy functionality built into the service. Download here.

At this time, additional requests are not available in your state of residence.  Should state or federal law change, we will evaluate how to offer more privacy choices to you in the future.  

We use cookies to improve your browsing experience, personalize content, and measure traffic.
‍By accepting all, you consent to the use of cookies for marketing, personalization, and analytics. You can manage your preferences and withdraw consent at any time. Learn more in our Privacy and Cookie Policy.

PreferencesRejectAccept
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Preferences