Page 9 - Monster Energy 2021-2022 Benefits Guide

pre-tax accounts in taxes!
Pay less

Monster Energy offers several accounts that let you pay for eligible expenses tax-free:

+ Health Care Flexible Spending Account (FSA) — You can use this account for medical,
pharmacy, dental and vision expenses.

+ Dependent Care Flexible Spending Account (FSA) — Use for eligible childcare expenses
for dependents under age 13 or eldercare.

+ Health Savings Account (HSA) — Available to those enrolled in the UHC Select Plus HSA
Plan (as long as you’re not enrolled in any other health coverage or Medicare or claimed
as a dependent on someone else’s tax return).

The IRS provides a list of eligible expenses for each account at irs.gov.

FLEXIBLE SPENDING ACCOUNTS

A Flexible Spending Account (FSA) helps you pay for health care or dependent care (including
eldercare) costs using tax-free dollars. Your contribution is deducted from your paycheck on a
pre-tax basis and is put into the FSA. Then, when you incur eligible expenses, you can access the
funds in your account to pay for them. This chart shows the eligible expenses for each FSA and
how much you can contribute each year. Both of these options reduces your taxable income.

ACCOUNT TYPE ELIGIBLE EXPENSES ANNUAL CONTRIBUTION LIMITS

Health Most medical, dental and vision care expenses Minimum contribution is $120. Maximum contribution is
Care FSA that are not covered by your health plan $2,750 per year.
(such as copays, coinsurance, deductibles and You cannot enroll if you are enrolled in the UHC Select
over-the-counter medications) Plus HSA Plan.
Funds are deducted throughout the year, but all funds
are available on January 1.

Dependent Dependent care expenses (such as daycare, Maximum contribution is $5,000 per year ($2,500
Care FSA after school programs or eldercare programs) if married and filing separate tax returns).
for children under age 13 or eldercare so you and
Our wellness programs your spouse can work or attend school full-time
are designed to:

IMPORTANT INFORMATION ABOUT FSAs
+ Provide education, resources The FSA plan year is from January 1 through December 31. Claims for
and support to employees reimbursement must be submitted by March 31 of the following year. Our
Health Care FSA allows you to carry over $550 in unused funds to the
+ Help you make good following plan year.
decisions about your health FSA
Please plan your contributions carefully. Any unused money remaining in Open Enrollment
+ Increase employee your account(s) will be forfeited. This is known as the “use it or lose it” rule, is in
engagement and it is governed by Internal Revenue Service regulations. Note that FSA November
and productivity elections do not automatically continue from year to year; you must actively for 2022
+ Manage health enroll each year.
care costs Visit myameriflex.com or call (888) 868-3539 to review your account,
including the current balance, status of claims and more.

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