Page 6 - 2017-18 TechLab Benefits Guide
P. 6
Eligible Expenses What is a Flexible Savings
Healthcare FSA Account (FSA)?
Doctor’s visit copays
A lexible spending account (FSA) allows you to set aside pre-tax dollars
Prescription drug copays from your paycheck to cover qualiied expenses that you would normally
Medical and dental deductibles pay out of your pocket with after-tax dollars. We offer 2 types of lexible
spending account programs through Amerilex.
Over-the-counter medications
(with a written prescription)
Healthcare FSA
Hearing aids
The healthcare FSA helps you pay for certain IRS-approved medical care
Eye glasses expenses not covered by your insurance plan with pre-tax dollars. For
Dependent Care FSA example, cash which you now spend on deductibles, copayments, or other
Cost of child or adult daycare* out-of-pocket medical expenses can instead be placed in the healthcare
FSA pre-tax, to pay for these expenses. The maximum contribution to the
Nursery school healthcare FSA is $2,600 per plan year.
Preschool (excluding
kindergarten) Funds you elect to contribute are available to the healthcare FSA are
* An eligible dependent is a tax available in full on the irst day of the plan year (July 1). For example, if
dependent child under age 13 or tax you elect to contribute $1,000, full election is available on July 1. You will
dependent spouse, parent, or child
unable to care for themselves continue to pay for the election pre-tax from your paycheck throughout
the plan year (July 1–June 30).
Dependent Care FSA
The dependent care FSA lets you set aside pre-tax dollars to use toward
qualiied dependent care. The maximum amount you may contribute
to the dependent care FSA is $5,000 (or $2,500 if married and iling
separately) per plan year. Funds you contribute to the dependent care FSA
function like a debit card, you need to accumulate the funds before you
can use them.
6 2017–2018 Benefits Enrollment
Healthcare FSA Account (FSA)?
Doctor’s visit copays
A lexible spending account (FSA) allows you to set aside pre-tax dollars
Prescription drug copays from your paycheck to cover qualiied expenses that you would normally
Medical and dental deductibles pay out of your pocket with after-tax dollars. We offer 2 types of lexible
spending account programs through Amerilex.
Over-the-counter medications
(with a written prescription)
Healthcare FSA
Hearing aids
The healthcare FSA helps you pay for certain IRS-approved medical care
Eye glasses expenses not covered by your insurance plan with pre-tax dollars. For
Dependent Care FSA example, cash which you now spend on deductibles, copayments, or other
Cost of child or adult daycare* out-of-pocket medical expenses can instead be placed in the healthcare
FSA pre-tax, to pay for these expenses. The maximum contribution to the
Nursery school healthcare FSA is $2,600 per plan year.
Preschool (excluding
kindergarten) Funds you elect to contribute are available to the healthcare FSA are
* An eligible dependent is a tax available in full on the irst day of the plan year (July 1). For example, if
dependent child under age 13 or tax you elect to contribute $1,000, full election is available on July 1. You will
dependent spouse, parent, or child
unable to care for themselves continue to pay for the election pre-tax from your paycheck throughout
the plan year (July 1–June 30).
Dependent Care FSA
The dependent care FSA lets you set aside pre-tax dollars to use toward
qualiied dependent care. The maximum amount you may contribute
to the dependent care FSA is $5,000 (or $2,500 if married and iling
separately) per plan year. Funds you contribute to the dependent care FSA
function like a debit card, you need to accumulate the funds before you
can use them.
6 2017–2018 Benefits Enrollment
