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FLEXIBLE SPENDING ACCOUNTS

Flexible Spending Accounts (FSA) allow full-time employees to pay on a pretax basis for eligible health care and dependent care expenses and reduce their taxable income.  Employees can contribute up to $2,550 per calendar year for a Health Care FSA.  The IRS allows a family maximum contribution of $5,000 per calendar year to a Dependent Care FSA.  The amount you set aside is not subject to federal or state  income or social security taxes.  In other words, you can use tax-free dollars to pay for certain kinds of benefits and expenses which you normally pay for with out of pocket, taxable dollars.

General Information

Visit SharePoint for a full plan description

For more information on FSA's click on a plan below:

 

HEALTH CARE FSA
 
DEPENDENT CARE FSA

 

During open enrollment each year (or within 30 days of the start of employment) the employee submits an application to the Benefits Office and designates the amount to be set aside into the accounts before any taxes are calculated.  The amount is deducted on a monthly basis from your paycheck.  Throughout the year, you submit documentation of eligible expenses to Navia via fax, email or mail, and reimbursements are made by check or electronic deposit.

You are not allowed to make any changes during the plan year (January 1 – December 31) unless there has been a change in your family status (i.e., marriage, divorce, birth, death, adoption, or change in job status for you or your spouse).

It is important that you decide how much to place in each account and use up the account entirely.  Any monies left at the end of the year will be forfeited and requests for reimbursement must be made no later than 75 days after the end of the plan year.  In planning, it is best to review the amount you’ve spent over the previous year and conservatively project the upcoming year.

Navia administers the flexible spending account program on the district’s behalf.  Go to Navia’s FSA participant web site to access tools and view a brochure, online educational presentation, frequently asked questions, list of eligible expenses, expense estimate worksheet, tax savings calculator, and other helpful items.  Once you’ve logged in and created an account you can check your account balance, claims history, payment history and access forms for claims, direct deposit and change in status.

 

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