Cafeteria Plans for Your Business

Provide employees with a flexible solution to use pre-tax dollars on a variety of medical and dependent care expenses.

Cafeteria plans, also called flexible spending accounts (FSAs), allow employees to use pre-tax dollars to pay medical insurance premiums, out-of-pocket medical expenses and dependent care expenses.*

Cafeteria plans earned their nickname from the flexibility they give employees in choosing from a menu of benefits. With a cafeteria plan, employees authorize employers to deduct a fixed amount or percentage from their before-tax income.

  • Contributions are made to a reimbursement account that is used to pay for qualified expenses
  • Out-of-pocket medical expenses that aren’t covered by insurance (for example: office co-payments, prescriptions, over-the-counter drugs) can be run through the plan
  • The dependent care FSA is an attractive benefit for employees who pay for child-care or long-term care for their parents
  • Group life insurance premiums that employers do not reimburse may be an eligible expense
  • Contributions are exempt from federal income taxes and payroll taxes

Business Cafeteria Plan Contact Form

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Products and services offered by Central Trust Company are not insured by the FDIC, are not deposits of or guaranteed by any depository institution or affiliate bank and are subject to investment risks, including possible loss of principal amount invested. Insurance products are available through and underwritten by non-affiliated insurance companies.