Page 18 - Brady Corporation 2021 Annual Benefits California
P. 18
2021
Savings and Spending Accounts
The Health Savings Account (HSA) and Flexible Spending Accounts (FSAs) help you save money on out-
of-pocket expenses that you and your family incur during the calendar year. There are a number of diferent
types of accounts that help to reduce your taxable income when paying for eligible expenses for yourself, your
spouse and eligible dependents.
Flexible Spending Accounts (FSA)
Flexible Spending Accounts are an easy way for you to keep more of your take-home pay by using pretax
dollars for eligible expenses. For 2021, the plan is administered by WageWorks/HealthEquity.
The Health Care Flexible Spending Account
You can place up to $2,750 annually (this Expenses for the Health Care Flexible Spending
annual maximum adjusts with IRS increases) Account can be for you or anyone you claim
in the Health Care Flexible Spending Account. as a dependent on your Federal tax return.
You can also carry over up to $550 from 2020 Additionally, your entire election is available
to 2021. immediately regardless of the actual payroll
deduction amounts.
Eligible expenses for this account include
medical plan oice visit copays, deductibles and Expenses must be incurred by December 31
coinsurance, as well as dental and orthodontia and submitted for reimbursement by March 31
expenses; vision care expenses such as of the following year. Your remaining FSA funds
contacts, glasses and LASIK surgery; and over $550 are not eligible for rollover and will be
over-the-counter expenses including medicines, forfeited.
medical supplies and menstrual products.
If you enrolled in the Brady PPO or any non-high deductible health plan, you are eligible for the Health Care Flexible
Spending Account.
The Dependent Day Care Flexible Spending Account
You can place up to $5,000 annually in the Dependents include children under age 13
Dependent Day Care Flexible Spending or dependents that are physically or mentally
Account; or $2,500 if married and iling unable to care for themselves (includes adult
separately. day care).
With the Dependent Day Care Flexible
This account is used for dependent day care Spending Account you can only be reimbursed
expenses while you and your spouse work, look up to the amount you have had deducted from
for work, or attend school full time. payroll (pay as you go). Funds do not roll over
year to year if unused.
Reimbursement options include check and direct deposit for expenses you have already paid or you can arrange for
direct payments to your dependent care provider.
18
Savings and Spending Accounts
The Health Savings Account (HSA) and Flexible Spending Accounts (FSAs) help you save money on out-
of-pocket expenses that you and your family incur during the calendar year. There are a number of diferent
types of accounts that help to reduce your taxable income when paying for eligible expenses for yourself, your
spouse and eligible dependents.
Flexible Spending Accounts (FSA)
Flexible Spending Accounts are an easy way for you to keep more of your take-home pay by using pretax
dollars for eligible expenses. For 2021, the plan is administered by WageWorks/HealthEquity.
The Health Care Flexible Spending Account
You can place up to $2,750 annually (this Expenses for the Health Care Flexible Spending
annual maximum adjusts with IRS increases) Account can be for you or anyone you claim
in the Health Care Flexible Spending Account. as a dependent on your Federal tax return.
You can also carry over up to $550 from 2020 Additionally, your entire election is available
to 2021. immediately regardless of the actual payroll
deduction amounts.
Eligible expenses for this account include
medical plan oice visit copays, deductibles and Expenses must be incurred by December 31
coinsurance, as well as dental and orthodontia and submitted for reimbursement by March 31
expenses; vision care expenses such as of the following year. Your remaining FSA funds
contacts, glasses and LASIK surgery; and over $550 are not eligible for rollover and will be
over-the-counter expenses including medicines, forfeited.
medical supplies and menstrual products.
If you enrolled in the Brady PPO or any non-high deductible health plan, you are eligible for the Health Care Flexible
Spending Account.
The Dependent Day Care Flexible Spending Account
You can place up to $5,000 annually in the Dependents include children under age 13
Dependent Day Care Flexible Spending or dependents that are physically or mentally
Account; or $2,500 if married and iling unable to care for themselves (includes adult
separately. day care).
With the Dependent Day Care Flexible
This account is used for dependent day care Spending Account you can only be reimbursed
expenses while you and your spouse work, look up to the amount you have had deducted from
for work, or attend school full time. payroll (pay as you go). Funds do not roll over
year to year if unused.
Reimbursement options include check and direct deposit for expenses you have already paid or you can arrange for
direct payments to your dependent care provider.
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