Page 14 - 2020FCSBenefitsGuide
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Flexible Spending Accounts
Flexible Spending Account (FSA)—Healthcare
Partner Physicians are Not Eligible to Participate
An FSA allows you to set aside a portion of your earnings, $2,750 to
pay for qualiied healthcare expenses as established by the IRS. Money
deducted from your paycheck into the FSA account is not subject to
payroll taxes, resulting in a substantial payroll tax savings to you. You may
contribute a minimum of $100 and up to $2,750 on an annual basis to
this account. The lexible spending account for healthcare is administered
by Flores & Associates and you will receive a Flores Mastercard card to
pay for most qualiied expenses.
You do not have to be enrolled in the medical, dental, or vision insurance
plans in order to participate in this account.
Note: the FSA healthcare plan does not allow reimbursement for
claims of domestic partners or their children.
You may use the FSA for the following expenses.
X Deductibles, coinsurance, and copayments
X Other qualiied expenses which are allowable for a medical
tax deduction
Please note expenses must be incurred in 2020 while you are a covered
participant in the plan and elections cannot be stopped or changed during
the year unless a qualiied family status change occurs (as deined by
the IRS).
You may roll over up to a maximum of $500 of any unused money in
your healthcare FSA account at the end of the year to be used in your
healthcare FSA for the following year. Please note any amount you roll
over does not affect your $2,750 annual election.
14 2020 Benefits Guide
Flexible Spending Account (FSA)—Healthcare
Partner Physicians are Not Eligible to Participate
An FSA allows you to set aside a portion of your earnings, $2,750 to
pay for qualiied healthcare expenses as established by the IRS. Money
deducted from your paycheck into the FSA account is not subject to
payroll taxes, resulting in a substantial payroll tax savings to you. You may
contribute a minimum of $100 and up to $2,750 on an annual basis to
this account. The lexible spending account for healthcare is administered
by Flores & Associates and you will receive a Flores Mastercard card to
pay for most qualiied expenses.
You do not have to be enrolled in the medical, dental, or vision insurance
plans in order to participate in this account.
Note: the FSA healthcare plan does not allow reimbursement for
claims of domestic partners or their children.
You may use the FSA for the following expenses.
X Deductibles, coinsurance, and copayments
X Other qualiied expenses which are allowable for a medical
tax deduction
Please note expenses must be incurred in 2020 while you are a covered
participant in the plan and elections cannot be stopped or changed during
the year unless a qualiied family status change occurs (as deined by
the IRS).
You may roll over up to a maximum of $500 of any unused money in
your healthcare FSA account at the end of the year to be used in your
healthcare FSA for the following year. Please note any amount you roll
over does not affect your $2,750 annual election.
14 2020 Benefits Guide
