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PayMaxx Adds Flexible Spending Account Program

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NU Online News Service, Oct. 24, 12:55 p.m. – PayMaxx Inc., Franklin, Tenn., a payroll processing company, has introduced the Power125 program.

An employer can use the program to run a flexible spending account plan.

When an employer uses the Power125 program to run an FSA plan, participants can deposit and retrieve funds twice a month. Participants can also choose between getting cash through checks or through an electronic payment card system.

An employer can also use the Power125 program to administer a premium-only plan, a type of benefit plan that helps employees deduct health insurance premium contributions from taxable income, PayMaxx says.