Page 8 - 2022 Intapp Benefits Guide
P. 8

Savings accounts





        Intapp offers several accounts that enable you to pay for eligible expenses on a tax-advantaged basis. The IRS provides a
        list of eligible expenses for each account at www.irs.gov or www.wexinc.com/insights/benefits-toolkit/eligible-expenses/.


               Health Savings                      Health Care Flexible                     Dependent Care
               Account (HSA)                    Spending Accounts (FSAs)                   Flexible Spending
                                                                                              Account (FSA)
          Available to those enrolled in   Your options depend on your medical plan enrollment.
          the HSA Plan as long as you      ●  Health Care FSA – If you are not enrolled in an HSA   Use for eligible childcare
          are not enrolled in any other   Plan, you can use this account for medical, pharmacy,   expenses for dependents
          health coverage or Medicare,    dental and vision expenses.                   under age 13 or elder care.
          or claimed as a dependent on     ●  Limited Purpose FSA – If you are enrolled in an HSA
          someone else’s tax return.      Plan, you can use this account to pay for dental and
                                          vision expenses only.



        Comparison of accounts

                                                            HSA                                 FSA

         Does the company contribute?                                                           X
         Amount for full-year 2022                     Employee: $2,000
                                                  Employee +1 or Family: $3,000

         Can I contribute my own savings?                                                       


                                                                                                
         Is there an IRS maximum annual                Employee: $3,650                     Health Care or
         contribution?                                  Family: $7,300                Limited Purpose FSAs: $2,850
                                               Those 55 and older can contribute an
                                                   additional $1,000 annually.        Dependent Care FSA: $5,000

                                                                                                  !
                                                                                   Due to COVID-19, Intapp adopted the
                                                                                  temporary provision to allow any leftover
                                                                                   funds from your 2021 FSA to roll over
         Will my savings roll over each year?                                     into the 2022 Plan Year. This is for the
                                                          Unlimited              Healthcare FSA and Limited Purpose FSA.
                                                                                  The unlimited rollover ends 12/31/22 and
                                                                                 the carryover returns to $570. There is no
                                                                                     rollover for Dependent Care FSA.

         Will I earn interest on my savings?                                                    X

         Are the savings tax-free?
         In most states                                                                         
         Do I keep the money if I leave
         the company?                                                                           X
                                                              !
         Can I also have a Flexible Spending          Limited Purpose and                        N/A
         Account (FSA)?
                                                   Dependent Care FSAs only

        Commuter benefits
        Employees can use pretax dollars to pay for parking or public transportation expenses while commuting to work. The maximum
        contribution is $280 per month to your transit/vanpool account and up to $280 per month to your parking account.
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