Use the calculator below to estimate how much your company will save in annual FICA taxes when
offering a flexible spending account, health reimbursement arrangement, or both to your employees.
- The estimated savings presented by this calculator are estimates and vary based on the specific facts that pertain to your plan(s). Please check with your tax advisor for more information.
- The calculations performed by this calculator assume a fixed FICA rate of 7.65%.
- All reimbursements issued under health reimbursement arrangements are tax deductible for the employer. This calculator assumes that all employer contributions to the HRA are issued as reimbursements to the plan participants. Any unused funds will reduce the amount of employer savings.