Page 13 - HIMSS 2021 Annual Benefits Enrollment
P. 13
FLEXIBLE SPENDING
ACCOUNTS (FSA)
Flexible Spending Accounts (FSAs) allow you to pay for eligible expenses using tax-free dollars. There are
four types of FSAs — the Healthcare FSA, the Limited Purpose FSA, Dependent Care FSA and Commuter
Benefits Program.
HEALTHCARE LIMITED PURPOSE DEPENDENT CARE
Contribute up to $5,000
Contribute up to $2,750 per Contribute up to $2,750 per per year, pretax, or $2,500 if
year, pretax. year, pretax. married and filing separate
tax returns.
Eligible expenses include most
medical, dental and vision Use for eligible dependent care
expenses that are not covered Available to those with an HSA. expenses for children to age 13
by your health plan. If you have Eligible expenses include most including day care and after-
an HSA, you are not eligible for dental and vision care expenses. school programs, as well as elder
the Healthcare FSA. care programs.
You elections are effective from You elections are effective from
January 1 through December January 1 through December 31. You elections are effective from
31. You may carry over $500 in You may carry over $500 in January 1 through December 31.
unused funds to the following unused funds to the following Any money remaining in your
plan year. Any money remaining plan year. Any money remaining FSA as of March 31, 2022 will
in your FSA over $500 as of in your FSA over $500 as of be forfeited per IRS regulations
March 31, 2022 will be forfeited March 31, 2022 will be forfeited (there is no carry over).
per IRS regulations. per IRS regulations.
COMMUTER BENEFITS PROGRAM IT’S EASY TO USE
THESE ACCOUNTS
Use pretax dollars to pay for your parking or public transportation
expenses while commuting to work. This program is voluntary and you 1 First, you contribute
to the account(s) with
may participate on a month-to-month basis. Any unused funds in any pretax dollars deducted
month are rolled over to the next month’s contribution. from your paycheck.
That means no taxes
will be withheld from
ACCOUNT USE FOR CONTRIBUTIONS any of those dollars.
certain eligible
Transportation Monthly passes, tokens, fare $270 monthly 2 Then, you pay for
or Public Transit cards/vouchers (transit and maximum expenses out of your
vanpool expenses) for you.
pocket as usual. You
may use your debit
Fees associated with parking card or submit a
at or near your place of claim to be reimbursed
Parking employment, or parking at $270 monthly for those expenses
or near public transportation
maximum
from the dollars in
to get to work (e.g., parking your account.
at a bus or subway station)
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ACCOUNTS (FSA)
Flexible Spending Accounts (FSAs) allow you to pay for eligible expenses using tax-free dollars. There are
four types of FSAs — the Healthcare FSA, the Limited Purpose FSA, Dependent Care FSA and Commuter
Benefits Program.
HEALTHCARE LIMITED PURPOSE DEPENDENT CARE
Contribute up to $5,000
Contribute up to $2,750 per Contribute up to $2,750 per per year, pretax, or $2,500 if
year, pretax. year, pretax. married and filing separate
tax returns.
Eligible expenses include most
medical, dental and vision Use for eligible dependent care
expenses that are not covered Available to those with an HSA. expenses for children to age 13
by your health plan. If you have Eligible expenses include most including day care and after-
an HSA, you are not eligible for dental and vision care expenses. school programs, as well as elder
the Healthcare FSA. care programs.
You elections are effective from You elections are effective from
January 1 through December January 1 through December 31. You elections are effective from
31. You may carry over $500 in You may carry over $500 in January 1 through December 31.
unused funds to the following unused funds to the following Any money remaining in your
plan year. Any money remaining plan year. Any money remaining FSA as of March 31, 2022 will
in your FSA over $500 as of in your FSA over $500 as of be forfeited per IRS regulations
March 31, 2022 will be forfeited March 31, 2022 will be forfeited (there is no carry over).
per IRS regulations. per IRS regulations.
COMMUTER BENEFITS PROGRAM IT’S EASY TO USE
THESE ACCOUNTS
Use pretax dollars to pay for your parking or public transportation
expenses while commuting to work. This program is voluntary and you 1 First, you contribute
to the account(s) with
may participate on a month-to-month basis. Any unused funds in any pretax dollars deducted
month are rolled over to the next month’s contribution. from your paycheck.
That means no taxes
will be withheld from
ACCOUNT USE FOR CONTRIBUTIONS any of those dollars.
certain eligible
Transportation Monthly passes, tokens, fare $270 monthly 2 Then, you pay for
or Public Transit cards/vouchers (transit and maximum expenses out of your
vanpool expenses) for you.
pocket as usual. You
may use your debit
Fees associated with parking card or submit a
at or near your place of claim to be reimbursed
Parking employment, or parking at $270 monthly for those expenses
or near public transportation
maximum
from the dollars in
to get to work (e.g., parking your account.
at a bus or subway station)
13
