Page 15 - 2022 Benegit Guide

Flexible Spending Account (FSA)

You may participate in the FSAs and pay for eligible expenses with pre-tax dollars. Since contributions
are deducted before federal income taxes and Social Security taxes are calculated, your taxable income
is lowered. This means you pay less tax in each paycheck and you reimburse yourself with tax-free
money from your account. You may participate in the Health Care FSA and/or Dependent Care FSA.

In exchange for tax advantages, the IRS sets certain requirements for FSAs:
• A limit of up to $570 of your remaining Health Care FSA contributions can be carried over into the next
plan year.
• You must enroll each year. Your 2021 enrollment will not be automatically applied in 2022.
• Your Health Care FSA and Dependent Care FSA are separate accounts. You cannot use the money
in your Health Care FSA to pay for Dependent Care expenses, nor vice versa.
• If you enroll in the CDHP with an HSA, you may enroll in the FSA. However, reimbursement will be
limited to dental and vision expenses until you have met your deductible.

Health Care FSA Dependent Care FSA
Deductibles, copays, and coinsurance Daycare expenses incurred while you
for medical, prescription drug, and your spouse are at work, looking
dental and vision care. Visit for work or attending school full-time,
Eligible Expenses
cda.basiconline.com/login for a list for a qualifying child (under age 13) or
of allowable expenses. disabled spouse. Disabled dependents
are covered regardless of age.
Annual Contributions $260–$2,850 $260–$5,000

Use it: Use it:

Important Deadlines January 1, 2022–December 31, 2022 January 1, 2022–December 31, 2022
Submit expenses: No later than Submit expenses: No later than
March 31, 2023 March 31, 2023
All funds will be available as Funds are available as they are
Funds Availability of your effective date. deposited via payroll contributions.

2022 Health and Benefits Guide 15