Page 17 - 2017 FutureSteps
P. 17
Additional Benefits
Healthcare FSA—Not available in 2017
IRS Guidelines prohibit contributing pre-tax dollars to both an HSA and a
healthcare FSA. Given these guidelines, and the fact that W&T employees
now have the beneit of an HSA, effective January 1, 2017 the healthcare
FSA will no longer be available. You have until March 15 to use the money in
your account for eligible expenses that have been incurred from January 1,
2016 through December 31, 2016. For questions please see HR.
Dependent Care FSA
We are exited to continue to offer the dependent care lexible spending
account. A dependent care FSA allows you to set aside pre-tax dollars from
your paycheck to pay for eligible dependent care expenses, such as daycare
costs. To qualify, you and your spouse must be employed, looking for work, or
your spouse must be a full-time student.
Maximum annual contribution $5,000
Examples of eligible dependents include: a dependent under the age of
13 or a dependent that is physically or mentally incapable of self-care.
A dependent is deined as a qualifying person for whom you can claim a
tax exemption
17
Healthcare FSA—Not available in 2017
IRS Guidelines prohibit contributing pre-tax dollars to both an HSA and a
healthcare FSA. Given these guidelines, and the fact that W&T employees
now have the beneit of an HSA, effective January 1, 2017 the healthcare
FSA will no longer be available. You have until March 15 to use the money in
your account for eligible expenses that have been incurred from January 1,
2016 through December 31, 2016. For questions please see HR.
Dependent Care FSA
We are exited to continue to offer the dependent care lexible spending
account. A dependent care FSA allows you to set aside pre-tax dollars from
your paycheck to pay for eligible dependent care expenses, such as daycare
costs. To qualify, you and your spouse must be employed, looking for work, or
your spouse must be a full-time student.
Maximum annual contribution $5,000
Examples of eligible dependents include: a dependent under the age of
13 or a dependent that is physically or mentally incapable of self-care.
A dependent is deined as a qualifying person for whom you can claim a
tax exemption
17
