Page 14 - Dentsu 2022 Annual Enrollment Flyer
P. 14
Important Things to Note Flexible Spending
About FSAs
• If you enroll in a Health Care Accounts (FSAs)
FSA, you will receive a debit
card from Smart-Choice
to pay for your eligible
expenses. You have two different FSA options,
• If you enroll in a Dependent the Health Care FSA and the Dependent
Care FSA, you will Care FSA
have to submit manual
reimbursement requests
through your benefits Health Care FSA
account. The Health Care FSA gives you a valuable tax break by letting
• Over-the-counter (OTC) you set aside pre-tax dollars for reimbursement of certain
medications may not be health care expenses you or your family might have over the
reimbursable through FSAs course of a year. Here are some key features of this type of
without a prescription. account:
• Do the math. Estimate your • Money in your account can be used for medical, dental and
eligible expenses prior to vision expenses.
enrolling in an FSA to avoid • You may contribute up to the annual IRS maximum. In 2021,
forfeiting unused funds that the annual maximum was $2,750.
would not be eligible for
carryover. • You can access your full annual election immediately.
• Don’t forget to keep your • If you elect a High Deductible Health Plan in 2022, you may
receipts in case you need to not contribute to a Health Care FSA during 2022.
verify an expense! • At the end of the year, remaining money up to $550 will
• For a complete list of be rolled over to the following year for you to continue
eligible expenses see IRS using. If you have a balance above $550, that money will be
Publications 502 and 503. forfeited, so choose you FSA election amount wisely.
Improved Access to Claims Dependent Care FSA
and Reimbursements Just like the Health care FSA, the Dependent Care FSA gives
Download the Smart-Choice you a valuable tax break to help you pay for certain child and
Mobile app from the App adult day care expenses. Here are some key features of this
Store or Google Play. You’ll type of account:
need to register as a new • Money in your account can be used for expenses such
user by creating a unique ID as before and after school care, expenses for day
and password. After you’ve care, preschool or nursery school, nanny service and
accessed the app, your summer camp.
credentials will be saved and
can be accessed with Touch ID • You may contribute up to $5,000 each year.
or Face ID. • You can access funds as they are deposited to your account.
• Any balances remaining at the end of the year will be
forfeited.
14 2022 Benefits Enrollment
About FSAs
• If you enroll in a Health Care Accounts (FSAs)
FSA, you will receive a debit
card from Smart-Choice
to pay for your eligible
expenses. You have two different FSA options,
• If you enroll in a Dependent the Health Care FSA and the Dependent
Care FSA, you will Care FSA
have to submit manual
reimbursement requests
through your benefits Health Care FSA
account. The Health Care FSA gives you a valuable tax break by letting
• Over-the-counter (OTC) you set aside pre-tax dollars for reimbursement of certain
medications may not be health care expenses you or your family might have over the
reimbursable through FSAs course of a year. Here are some key features of this type of
without a prescription. account:
• Do the math. Estimate your • Money in your account can be used for medical, dental and
eligible expenses prior to vision expenses.
enrolling in an FSA to avoid • You may contribute up to the annual IRS maximum. In 2021,
forfeiting unused funds that the annual maximum was $2,750.
would not be eligible for
carryover. • You can access your full annual election immediately.
• Don’t forget to keep your • If you elect a High Deductible Health Plan in 2022, you may
receipts in case you need to not contribute to a Health Care FSA during 2022.
verify an expense! • At the end of the year, remaining money up to $550 will
• For a complete list of be rolled over to the following year for you to continue
eligible expenses see IRS using. If you have a balance above $550, that money will be
Publications 502 and 503. forfeited, so choose you FSA election amount wisely.
Improved Access to Claims Dependent Care FSA
and Reimbursements Just like the Health care FSA, the Dependent Care FSA gives
Download the Smart-Choice you a valuable tax break to help you pay for certain child and
Mobile app from the App adult day care expenses. Here are some key features of this
Store or Google Play. You’ll type of account:
need to register as a new • Money in your account can be used for expenses such
user by creating a unique ID as before and after school care, expenses for day
and password. After you’ve care, preschool or nursery school, nanny service and
accessed the app, your summer camp.
credentials will be saved and
can be accessed with Touch ID • You may contribute up to $5,000 each year.
or Face ID. • You can access funds as they are deposited to your account.
• Any balances remaining at the end of the year will be
forfeited.
14 2022 Benefits Enrollment
