BAS' Flexible Spending Account Plan Administration provides needed tools for monitoring FSA participation. As part of our available reporting package, we can send a monthly review of FSA Balances for employees who have active accounts. This report allows employers to plan for upcoming benefits expenses, and to anticipate plan underpayments.
BAS' report provides employee information, including effective date of coverage and end date of coverage for participants who stop coverage mid-year. The report has been recently enhanced to include (for Health FSAs) remaining account balance based on both annual election and based on year-to-date contributions. For dependent day care FSAs, the claims paid year to date is compared to the year-to-date contribution.
Reports such as the FSA Balance Report may be requested from BAS through Sales@BASusa.com.