Flexible Spending Account
A Flexible Spending Account (FSA) is a special account you put money into that you use to pay for certain out-of-pocket health care costs. You don't pay taxes on this money. This means you'll save an amount equal to the taxes you would have paid on the money you set aside. Your FSA is administered by Paylocity.
Watch this video to learn more about your Flexible Savings Account
FSA BASICS
- Money deducted from your paycheck pre-tax
- Used for eligible healthcare or dependent care expenses
- Unused money is forfeited at the end of the year
- Everyone must re-enroll every year
USING YOUR FSA
- Pay out-of-pocket or mail in a claim form for reimbursement
- FSA debit card
Maximum Contribution
Health Care Flexible Spending Account1,2
$3,300
Limited Health Care Flexible Spending Account1,2,3
$3,300
Sample Expenses: ONLY eligible dental and vision expenses
Dependent Care Flexible Spending Account1,4
Single or married filing a joint return: $2,500
Married filing separate return: $5,000
Sample Expenses: daycare, after-school care, elder care
- The IRS requires you to keep copies of all expenses in which your FSA dollars were used.
- Annual pledged contribution is available on your effective date of coverage.
- If you elect to participate in the High Deductible Health Plan and contribute to a Health Savings Account (HSA), you qualify for the Limited Health Care FSA (not the Full Health Care FSA) and your flex dollars may only be used for eligible dental and vision expenses, NOT medical or pharmacy expenses.
- Annual pledged contribution is available to the extent of employee contribution.
Contact the provider of these benefits by calling this phone number or visiting this website: (800) 631-3539 | www.access.paylocity.com