Page 14 - Dawson 2022 Benefits Guide
P. 14
14 DAWSON
FLEXIBLE SPENDING
ACCOUNTS (FSA)
A great way to plan ahead and save money over the You have access to your entire healthcare FSA account
course of a year is to participate in a flexible spending balance on January 1, or once your election is made (if
account (FSA) program. later). However, you may only access funds from your
dependent care FSA account after the funds have been
These accounts allow you to redirect a portion of your deducted from your pay each pay period.
salary on a pretax basis into reimbursement accounts.
Money from these accounts is then used to pay medical, You may enroll in and use the healthcare FSA regardless
dental, and vision expenses which are not reimbursed of whether you or your eligible dependents enroll in
by your medical, dental, and vision plans. You may one of DAWSON’s medical plans. Dependent eligibility
also set aside pretax funds to reimburse dependent is the same as defined on page 5 of this guide.
care expenses. If you enroll in the HDHP, you may not contribute to
Pretax means the dollars you use for eligible expenses the healthcare FSA.
are not subject to Social Security tax, federal income Refer to IRS Publication 502 for a complete list of
tax, and in most cases, state, and local income taxes. eligible expenses at irs.gov/pub/irs-pdf/p502.pdf.
The FSAs allow you to use the funds for eligible expenses DAWSON’s FSAs are administered by WageWorks. More
incurred between January 1, 2022, and December 31, detail and an example are provided on the next page.
2022. You have until March 31, 2023, to file claims
incurred during the 2022 calendar year. Both FSAs are
subject to an IRS “use it or lose it” requirement. Make
sure to carefully decide how much to set aside for this
account so no money is wasted at year end. If you have
an unused balance in your 2021 healthcare FSA, you
will be permitted to roll over $550 of your unused 2021
balance to your 2022 healthcare FSA as long as you
contribute at least $12 to your 2022 healthcare FSA.
If you aren’t going to use all of your 2021 funds by
the end of the year, be sure to enroll in the 2022 FSA!
FLEXIBLE SPENDING
ACCOUNTS (FSA)
A great way to plan ahead and save money over the You have access to your entire healthcare FSA account
course of a year is to participate in a flexible spending balance on January 1, or once your election is made (if
account (FSA) program. later). However, you may only access funds from your
dependent care FSA account after the funds have been
These accounts allow you to redirect a portion of your deducted from your pay each pay period.
salary on a pretax basis into reimbursement accounts.
Money from these accounts is then used to pay medical, You may enroll in and use the healthcare FSA regardless
dental, and vision expenses which are not reimbursed of whether you or your eligible dependents enroll in
by your medical, dental, and vision plans. You may one of DAWSON’s medical plans. Dependent eligibility
also set aside pretax funds to reimburse dependent is the same as defined on page 5 of this guide.
care expenses. If you enroll in the HDHP, you may not contribute to
Pretax means the dollars you use for eligible expenses the healthcare FSA.
are not subject to Social Security tax, federal income Refer to IRS Publication 502 for a complete list of
tax, and in most cases, state, and local income taxes. eligible expenses at irs.gov/pub/irs-pdf/p502.pdf.
The FSAs allow you to use the funds for eligible expenses DAWSON’s FSAs are administered by WageWorks. More
incurred between January 1, 2022, and December 31, detail and an example are provided on the next page.
2022. You have until March 31, 2023, to file claims
incurred during the 2022 calendar year. Both FSAs are
subject to an IRS “use it or lose it” requirement. Make
sure to carefully decide how much to set aside for this
account so no money is wasted at year end. If you have
an unused balance in your 2021 healthcare FSA, you
will be permitted to roll over $550 of your unused 2021
balance to your 2022 healthcare FSA as long as you
contribute at least $12 to your 2022 healthcare FSA.
If you aren’t going to use all of your 2021 funds by
the end of the year, be sure to enroll in the 2022 FSA!
