Flex Spending Account - ameriflex
The Internal Revenue Code permits certain type of employers to offer its employees the opportunity of saving money through the use of Pre-Tax Dollars to pay for non-reimbursed health care expenses and/or dependent care expenses. Check out this FSA (medical FSA and Dependent Care) Quick Reference Guide for more information.
Most of your eligible FSA expenses can be paid using the pre-paid card that will be issued to you. For expenses where you are unable to use the card, manual claim forms are available for reimbursement. Manual claims will continue to be paid to you via direct deposit into your bank account.
The maximum amount you can contribute for the plan year to your FSA account for health care expenses is $2,550 and Dependent Care is $5,000. IRS rules now allow a carry over of a maximum of $500 of unused health care FSA contributions from one plan year into the next plan year.
How to Enroll:
Enrollment in the FSA is available annually during Open Enrollment. Enrollment form and direct deposit forms are attached below.
Everyone must complete an annual enrollment form and direct deposit form regardless of whether you participated in an FSA the prior year.
FSA deductions are made over a 26 pay period basis for employees paid year round. Employees who are not paid year round will have deductions made from October 2019 through June 2020.