Page 17 - AESC 2019 Benefits Gudie
P. 17
FSA
What is a Flexible Spending Account (FSA)? Dependent Care FSA
A lexible spending account (FSA) allows you to set aside pre-tax dollars The dependent care FSA lets
from your paycheck to cover qualiied expenses you would normally pay you set aside pre-tax dollars to
out of your pocket with after-tax dollars. We offer three types of lexible use toward qualiied dependent
spending account programs. care. The maximum amount you
may contribute to the dependent
Healthcare FSA care FSA is $5,000 (or $2,500
The healthcare FSA helps you pay for certain IRS-approved medical care if married and iling separately)
expenses not covered by your insurance plan with pre-tax dollars. The per calendar year. Funds you
maximum contribution to the healthcare FSA is $2,650 per plan year. contribute to the dependent care
FSA function like a debit card;
You may contribute to the Healthcare FSA if you: you need to accumulate the funds
before you can use them. Per the
X Are enrolled in the Reimbursement (HRA) plan or Sharing (EPO) IRS the dependent care FSA is not
plan available to highly compensated
X Are not enrolled in one of the Envision AESC medical plans employees (2019—$125,000+
annual compensation).
Funds you elect to contribute to the healthcare FSA may be used for
you and your family members regardless of whether you or your family
members are enrolled in the Envision AESC medical plans and are
available in full on the irst day of the plan year. For example, if you elect to
contribute $1,000, the full election is available to you on day one. You will
continue to pay for the election pre-tax from your paycheck throughout the
plan year.
Limited Health FSA
The limited health FSA is similar to the healthcare FSA except you are
limited to spending your pre-tax dollars on eligible dental and vision care
services only. The maximum contribution to the limited health FSA is
$2,650 per plan year. The limited health FSA is primarily for the Savings
(HSA) plan enrollees; however, all employees are eligible regardless of
health plan enrollment.
Envision AESC 17
What is a Flexible Spending Account (FSA)? Dependent Care FSA
A lexible spending account (FSA) allows you to set aside pre-tax dollars The dependent care FSA lets
from your paycheck to cover qualiied expenses you would normally pay you set aside pre-tax dollars to
out of your pocket with after-tax dollars. We offer three types of lexible use toward qualiied dependent
spending account programs. care. The maximum amount you
may contribute to the dependent
Healthcare FSA care FSA is $5,000 (or $2,500
The healthcare FSA helps you pay for certain IRS-approved medical care if married and iling separately)
expenses not covered by your insurance plan with pre-tax dollars. The per calendar year. Funds you
maximum contribution to the healthcare FSA is $2,650 per plan year. contribute to the dependent care
FSA function like a debit card;
You may contribute to the Healthcare FSA if you: you need to accumulate the funds
before you can use them. Per the
X Are enrolled in the Reimbursement (HRA) plan or Sharing (EPO) IRS the dependent care FSA is not
plan available to highly compensated
X Are not enrolled in one of the Envision AESC medical plans employees (2019—$125,000+
annual compensation).
Funds you elect to contribute to the healthcare FSA may be used for
you and your family members regardless of whether you or your family
members are enrolled in the Envision AESC medical plans and are
available in full on the irst day of the plan year. For example, if you elect to
contribute $1,000, the full election is available to you on day one. You will
continue to pay for the election pre-tax from your paycheck throughout the
plan year.
Limited Health FSA
The limited health FSA is similar to the healthcare FSA except you are
limited to spending your pre-tax dollars on eligible dental and vision care
services only. The maximum contribution to the limited health FSA is
$2,650 per plan year. The limited health FSA is primarily for the Savings
(HSA) plan enrollees; however, all employees are eligible regardless of
health plan enrollment.
Envision AESC 17
