A Flexible Spending Account is an account that allows you to reimburse yourself with pretax dollars for eligible out-of-pocket healthcare costs and/or the daycare costs associated with caring for a qualified dependent. It is administered through WageWorks and is available for all employees who work more than 30 hours per week. You may contact WageWorks at 877-924-3967 or at http://www.wageworks.com.

DEPENDENT FLEX PLAN

You can designate up to $5,000 a year on a pre-tax basis; $2,500 if filing separate tax returns. You can then use the funds to pay dependent care expenses (IRS reportable).

MEDICAL FLEX PLAN (FULL)

For those not participating in the HSA

You can designate up to $2,850 a year ($3,050 in 2023) on a pre-tax basis. The FSA has a grace period of two and half months into the next calendar year for employees to incur expenses before “use it or lose it” applies. You can use the funds to pay qualified out-of-pocket expenses such as:

• Medical expenses
• Dental expenses
• Vision expenses
• Some over-the-counter (OTC) prescribed by your physician

MEDICAL FLEX PLAN (LIMITED) – HSA COMPATIBLE

For those participating in the HSA

You can designate up to $2,850 ($3,050 in 2023) a year on a pre-tax basis. The FSA has a grace period of two and half months into the next calendar year for employees to incur expenses before “use it or lose it” applies. You can use the funds to pay qualified out-of-pocket expenses such as:

• Dental expenses
• Vision expenses