Page 15 - 2018 Movilitas Benefit Guide
P. 15
What is a Flexible Savings Eligible Expenses
Account (FSA)? The following are examples of
eligible FSA expenses . A complete
A lexible spending account (FSA) allows you to set aside pre-tax dollars list of eligible expenses can be
from your paycheck to cover qualiied expenses that you would normally found in IRS publication 502,
available at the IRS website at
pay out of your pocket with after-tax dollars. We offer 2 types of lexible www.irs.ustreas.gov.
spending account programs. If you want to participate in either of the
accounts, you must re-enroll each year. Your elections from the previous Healthcare FSA
year will not carry over. Doctor’s visit copays
Prescription drug copays
Healthcare FSA
Medical and dental deductibles
The healthcare FSA helps you pay for certain IRS-approved medical care
expenses not covered by your insurance plan with pre-tax dollars. For Over-the-counter medications
(with a written prescription)
example, cash which you now spend on deductibles, copayments, or other
out-of-pocket medical expenses can instead be placed in the healthcare Hearing aids
FSA pre-tax, to pay for these expenses. The maximum contribution to the Eye glasses
healthcare FSA is $2,650 per plan year. If you are enrolled in the health
savings account (HSA), you cannot enroll in a healthcare FSA. Dependent Care FSA
Cost of child or adult daycare*
Funds you elect to contribute are available to the healthcare FSA are Nursery school
available in full on the irst day of the plan year. For example, if you elect
to contribute $1,000, full election is available on day one. You’ll continue Preschool (excluding
to pay for the election pre-tax from your paycheck throughout the plan kindergarten)
year. * Eligible dependent—tax dependent
child under age 13; tax dependent
spouse, parent, or child unable to
Dependent Care FSA care for themselves
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. The dependent care account is a “Use it or Lose it” beneit;
you will forfeit any unused contributions in your account at the end of
the year.
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Account (FSA)? The following are examples of
eligible FSA expenses . A complete
A lexible spending account (FSA) allows you to set aside pre-tax dollars list of eligible expenses can be
from your paycheck to cover qualiied expenses that you would normally found in IRS publication 502,
available at the IRS website at
pay out of your pocket with after-tax dollars. We offer 2 types of lexible www.irs.ustreas.gov.
spending account programs. If you want to participate in either of the
accounts, you must re-enroll each year. Your elections from the previous Healthcare FSA
year will not carry over. Doctor’s visit copays
Prescription drug copays
Healthcare FSA
Medical and dental deductibles
The healthcare FSA helps you pay for certain IRS-approved medical care
expenses not covered by your insurance plan with pre-tax dollars. For Over-the-counter medications
(with a written prescription)
example, cash which you now spend on deductibles, copayments, or other
out-of-pocket medical expenses can instead be placed in the healthcare Hearing aids
FSA pre-tax, to pay for these expenses. The maximum contribution to the Eye glasses
healthcare FSA is $2,650 per plan year. If you are enrolled in the health
savings account (HSA), you cannot enroll in a healthcare FSA. Dependent Care FSA
Cost of child or adult daycare*
Funds you elect to contribute are available to the healthcare FSA are Nursery school
available in full on the irst day of the plan year. For example, if you elect
to contribute $1,000, full election is available on day one. You’ll continue Preschool (excluding
to pay for the election pre-tax from your paycheck throughout the plan kindergarten)
year. * Eligible dependent—tax dependent
child under age 13; tax dependent
spouse, parent, or child unable to
Dependent Care FSA care for themselves
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. The dependent care account is a “Use it or Lose it” beneit;
you will forfeit any unused contributions in your account at the end of
the year.
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