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How Flex Plans Work

General Information

Qualified Expenses



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How MyFlex Saves You Money.
Here’s an example of how a typical employee’s take-home pay will increase as a result of participating in the MyFlex plan. An employee makes $2,000 each month and decides to participate in her employer’s Flexible Spending Account Plan. She pays her insurance premiums and health and daycare expenses through the plan with tax-free dollars. And, she is able to save $100 each month!

Your Paycheck Without MyFlex

FICA Federal & State Taxes
Insurance premium
Health & daycare expenses
Net pay without the plan

Your Paycheck With MyFlex

Insurance premium*
Health & daycare expenses*
Adjusted earnings
FICA Federal & State taxes
Net pay with the plan