TASC understands the challenges employers are facing during these uncertain times. We have added Universal Benefit Account offerings, available immediately, that provide increased stability and peace of mind during times of ambiguity and change. These new account offerings, coupled with several of our existing offerings, are available to all TASC clients at NO COST.
What’s New:
Emergency Expense Reimbursement Account
Help cover unforeseen costs during emergency situations. Eligible expenses include medical expenses, plus those not covered by a participant’s insurance plan, such as medical testing and treatments, as well as dependent care costs.
Emergency Expense HRA
For a tax-advantaged plan that will cover emergency medical expenses, check out our Emergency Expense HRA. This account will reimburse for all 213(d) medical expenses as a result of a public healthcare crisis — including additional co-pays, prescriptions and other out-of-pockets costs.
Emergency Loan Account
You can provide funds to employees needing financial assistance for unexpected expenses through an interest-free loan. These funds can help ease stress and provide peace of mind during an unexpected event or trying time.
Employer Crisis Fund Account
Fund a crisis account and grant funds to employees who need financial assistance resulting from a personal, regional, or national crisis. If the employee request qualifies, based on the criteria you set, the amount approved is moved from the Employer Crisis Fund Account to their qualifying individual Employee Crisis Fund Account. You decide whether this account is taxable or tax-advantaged.
In addition to these new benefit account offerings, we want to highlight several that are currently available and that are being offered at NO COST through the end of 2020 to help employers and their employees through unique and challenging circumstances.
Do you have employees working remotely on a temporary or permanent basis? The Remote Employees Home Office Account helps reimburse employees for the cost of qualifying home office equipment and office supplies.
The Work Clothes Account reimburses employees for clothing and equipment that is required to do their jobs. This includes necessary uniforms and safety items, such as safety goggles or protective shoes.
TASC also offers a Back-Up Care Reimbursement Account that can be used when an employee finds themselves in a situation where their regular day care is unavailable. Help relieve financial strain during difficult times by reimbursing the cost of alternate dependent care that is needed unexpectedly.
The Individual Giving Account enhances the spirit of giving in the workplace, encouraging employees to support their community in times of need. Giving back is a way to help the hearts of our community and the hearts of individuals during good times and bad. The spirit of giving is always alive and well and brings people and organizations together.
Almost all of the accounts listed are TASC Card®-enabled, giving the participant immediate access to the available account funds at the point of purchase. We offer easy access to account details via our secure web portals for both participants and employers alike, in addition to a free mobile app that includes several innovative features for participants.
These benefit account offerings can be added to any account plan at no additional cost through the end of 2020.
These offerings are just a sample of the financial and flexible support TASC delivers during times of uncertainty and beyond. Be on the lookout for an additional communication coming soon regarding managing your current accounts during this time.
