Assurena Insurance Agency is an independent insurance brokerage agency that carries some of the best coverage options in the entire New USA.

Our Contacts

88 Centre Street North,
Toronto L4W 1C9
advisor@assurena.com admin@assurena.com
+1 (419)-507-0468
+1 (213)-345-0468

Working Hours

Monday
9.00 - 5.00
Tuesday
8.00 - 5.00
Wednesday
8.00 - 5.00
Thursday
8.00 - 5.00
Friday
8.00 - 4.00
Satureday
Closed
Sunday
Closed
Flexible Spending Accounts

Flexible Spending Accounts By Hawkins Insurance Agency .

Flexible Spending Accounts provided by Hawkins Insurance Agency .

Flexible spending accounts (FSAs) are another type of employee benefit, in this case, solely designed to save employees money through pre-tax savings on eligible healthcare expenses. Setting up an account is another employee perk that will keep existing staff in the company favor and help attract top talent later.

Established in 1982
100% customer satisfaction
Experience Of 30+ Years
60+ Insurance options

Click And Learn



  • Recruitment & Retention
  • Employees control on benefits
  • Eliminating guesswork
  • Eliminating guesswork
  • Eliminating guesswork
  • Eliminating guesswork

Employee recruitment & retention

Risk Factors

It is essential for small businesses to offer comprehensive benefit packages if they want to stay competitive with other employers within their industry.

Solution

Employees place high importance on benefits, and for some, benefits packages can be the deciding factor between two jobs. If you want to attract and retain top talent, you should expect to compensate them accordingly. In a recent study by MetLife, 72% of employees said having customized benefits increases their loyalty to their employer. 

Employees control over benefits

Risk Factors

Every employee is unique, and benefits should reflect that. An unhealthy older employee with a large family is going to want different benefits than a young, healthy, single employee laden with student debt.

Solution

Flexible benefit plans allow your employees to choose only those benefits that are relevant to them. Flexible benefits empower employees to ensure their organization is meeting their professional and personal needs. Employees want to feel their employer is investing in them, and flexible plans are a great way to do exactly that. 

Eliminating Guesswork

Risk Factors

When you create a plan, you have to note everyone’s needs and then make a plan which is suitable for all. Hence, there might be some coverages which other employees need but aren’t included.

Solution

Your employees know what type of benefits will best suit them. When you offer a flexible benefits plan, you don’t have to try to create a plan that appeases everyone. Instead, you can leave the choices up to your employees and rest assured that your employees are getting the right benefits to accommodate their health, budgets, and personal and professional happiness.

Eliminating Guesswork

Risk Factors

When you create a plan, you have to note everyone’s needs and then make a plan which is suitable for all. Hence, there might be some coverages which other employees need but aren’t included.

Solution

Your employees know what type of benefits will best suit them. When you offer a flexible benefits plan, you don’t have to try to create a plan that appeases everyone. Instead, you can leave the choices up to your employees and rest assured that your employees are getting the right benefits to accommodate their health, budgets, and personal and professional happiness.

Eliminating Guesswork

Risk Factors

When you create a plan, you have to note everyone’s needs and then make a plan which is suitable for all. Hence, there might be some coverages which other employees need but aren’t included.

Solution

Your employees know what type of benefits will best suit them. When you offer a flexible benefits plan, you don’t have to try to create a plan that appeases everyone. Instead, you can leave the choices up to your employees and rest assured that your employees are getting the right benefits to accommodate their health, budgets, and personal and professional happiness.

Eliminating Guesswork

Risk Factors

When you create a plan, you have to note everyone’s needs and then make a plan which is suitable for all. Hence, there might be some coverages which other employees need but aren’t included.

Solution

Your employees know what type of benefits will best suit them. When you offer a flexible benefits plan, you don’t have to try to create a plan that appeases everyone. Instead, you can leave the choices up to your employees and rest assured that your employees are getting the right benefits to accommodate their health, budgets, and personal and professional happiness.

What is Flexible Spending Account (FSA)?

A flexible spending account (FSA) is a type of savings account that provides the account holder with specific tax advantages. An FSA, sometimes called a “flexible spending arrangement,” can be set up by an employer for employees. The account allows you to contribute a portion of your regular earnings; employers also can contribute to employees’ accounts. Distributions from the account must be used to reimburse the employee for qualified expenses related to medical and dental services.

Another type of FSA is a dependent-care flexible spending account, which is used to pay for childcare expenses for children age 12 and under and can also be used to pay for the care of qualifying adults, including a spouse, who cannot care for themselves and meet specific Internal Revenue Service (IRS) guidelines. A dependent-care FSA has different maximum contribution rules than a medical-related flexible spending account.

What expenses are eligible for Flexible Spending Accounts reimbursements?

Any expense that is considered a deductible medical expense by the Internal Revenue Service and is not reimbursed through your insurance can be reimbursed through the Flexible Spending Account. Examples include:

  • Fees paid to doctors, dentists, surgeons, chiropractors, psychiatrists, psychologists, and Christian Science practitioners
  • Contact lenses and eyeglasses
  • Fees for hospital services, qualified long-term care services, accident and health, and qualified long-term care insurance premiums, nursing services, laboratory fees, prescription medicines and drugs, and insulin.
  • Acupuncture treatments
  • In-patient treatment at a center for alcohol or drug addiction
  • Smoking-cessation programs and prescribed drugs to help nicotine withdrawal
  • False teeth, hearing aids, crutches, wheelchairs, and guide dogs for the blind or deaf (And more Read over your FSA benefit documentation to make sure you know what is and isn’t covered. Keep receipts for everything you spend that you plan to seek reimbursement for later.)

All the money set aside in an FSA generally must be used by the end of the plan year. However, a plan can offer a grace period of up to two-and-a-half months to finish using that funding.

When the year ends or the grace period expires, any funds that remain in the FSA are lost. Thus, your employees should carefully calibrate the amount of money they plan to put into the FSA account and how they intend to spend it over the course of the year.

Setting up an account is another employee perk that will keep existing staff in the company favor and help attract top talent later. These employer benefit plans can sometimes be confusing, we can help plan this better for you and your organisation. Connect with us to know more !

Already Have Flexible Spending Accounts? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.

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