Question 1

Are all taxes avoided on earnings deposited to a Flexible Spending Account?

admin · Accepted Answer

Employers do NOT match Social Security, Medicare or pay Workers Compensation premiums (in Ohio) on contributions their employees make to the Plan. Tax savings to the employer will average 8% of contributions made. Employees do not pay Social Security, Medicare, Federal, State and Local (in Ohio) taxes.

Question 2

Are all taxes avoided on earnings deposited to a Flexible Spending Account?

admin · Accepted Answer

Employers do NOT match Social Security, Medicare or pay Workers Compensation premiums (in Ohio) on contributions their employees make to the Plan. Tax savings to the employer will average 8% of contributions made. Employees do not pay Social Security, Medicare, Federal, State and Local (in Ohio) taxes.