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.
8