Page 11 - Summit BHC 2022 Benefits Guide Summit Corporate
P. 11
2022
Benefits Guide
Flexible Spending Eligible Expenses
Accounts (FSA) A complete list of eligible expenses can be
found in IRS Publication 502 on the IRS website
Healthcare FSA or view eligible expenses at WEX.
The Healthcare FSA helps you pay for certain IRS- Healthcare FSA
approved medical expenses with pre-tax dollars. z Doctor’s visit copays
You can contribute up to $2,850 to the Healthcare
Spending Account. z Prescription drug copays
z Medical and dental deductibles
Limited Purpose Healthcare z Hearing aids
FSA
The Limited Purpose Healthcare FSA is similar to the Limited Purpose FSA
z
Eyeglasses, eye exams, contacts
Healthcare FSA except it is designed to complement z
a Health Savings Account and allows for spending of Dental procedures
dental and vision expenses. If you are participating Dependent Care FSA
in a High Deductible Health Plan and also z Cost of child through age 12 or adult
contributing to a Health Savings Account, you can daycare
participate in a limited purpose healthcare FSA.
z Before or after school care, summer day
Dependent Care FSA camp, preschool (excluding kindergarten)
The Dependent Care FSA lets you set aside pre-tax
dollars to use toward qualiied dependent care. Important FSA Notes
The maximum amount you may contribute to the
Dependent Care FSA is $5,000 (or $2,500 if married Expenses must be incurred by December 31
and iling separately) per calendar year. Funds you of the plan year. You have until March 30
contribute to the Dependent Care FSA need to of the following year to submit claims for
accumulate before you can use them. reimbursement.
Commuter FSA Plan carefully and be sure to use the amount
elected. Any unused money will be forfeited at
If residing in California, New Jersey, and certain the end of the year or if you leave the company
municipalities, the Commuter FSA is available to or retire.
allow you to pay for qualiied transportation and
parking expenses with pre-tax dollars up to the You are not allowed to have a Healthcare
monthly limit allowed by the IRS. Flexible Spending Account and contribute to a
Health Savings Account per IRS rules.
11
Benefits Guide
Flexible Spending Eligible Expenses
Accounts (FSA) A complete list of eligible expenses can be
found in IRS Publication 502 on the IRS website
Healthcare FSA or view eligible expenses at WEX.
The Healthcare FSA helps you pay for certain IRS- Healthcare FSA
approved medical expenses with pre-tax dollars. z Doctor’s visit copays
You can contribute up to $2,850 to the Healthcare
Spending Account. z Prescription drug copays
z Medical and dental deductibles
Limited Purpose Healthcare z Hearing aids
FSA
The Limited Purpose Healthcare FSA is similar to the Limited Purpose FSA
z
Eyeglasses, eye exams, contacts
Healthcare FSA except it is designed to complement z
a Health Savings Account and allows for spending of Dental procedures
dental and vision expenses. If you are participating Dependent Care FSA
in a High Deductible Health Plan and also z Cost of child through age 12 or adult
contributing to a Health Savings Account, you can daycare
participate in a limited purpose healthcare FSA.
z Before or after school care, summer day
Dependent Care FSA camp, preschool (excluding kindergarten)
The Dependent Care FSA lets you set aside pre-tax
dollars to use toward qualiied dependent care. Important FSA Notes
The maximum amount you may contribute to the
Dependent Care FSA is $5,000 (or $2,500 if married Expenses must be incurred by December 31
and iling separately) per calendar year. Funds you of the plan year. You have until March 30
contribute to the Dependent Care FSA need to of the following year to submit claims for
accumulate before you can use them. reimbursement.
Commuter FSA Plan carefully and be sure to use the amount
elected. Any unused money will be forfeited at
If residing in California, New Jersey, and certain the end of the year or if you leave the company
municipalities, the Commuter FSA is available to or retire.
allow you to pay for qualiied transportation and
parking expenses with pre-tax dollars up to the You are not allowed to have a Healthcare
monthly limit allowed by the IRS. Flexible Spending Account and contribute to a
Health Savings Account per IRS rules.
11
