Page 9 - Leona Arizona Employment Group Flipbook
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Savings and
Reimbursement Accounts
Leona offers several accounts that enable you to pay for eligible expenses tax-free. The IRS provides a list of eligible expenses for
each account at www.irs.gov.
Health Reimbursement Health Care Flexible Dependent Care Flexible
Arrangement (HRA) Spending Account (FSA) Spending Account (FSA)
Your HRA is funded by your employer and Use this account for medical, pharmacy, Use for eligible childcare expenses for
used to pay for eligible expenses. dental and vision expenses. dependents under age 13 or eldercare.
Comparison of accounts
HRA FSA
✓
Does the company contribute?
Employee: $500
Amount for plan year 2022-23
Employee +1 or Family: $1,000
Can I contribute my own savings? ✓
✓
Is there an IRS maximum annual
contribution? Health Care FSA: $2,750
Dependent Care FSA: $5,000
✓ !
Will my savings roll over each year? Any remaining balance will automatically Up to $550 for Health Care FSA;
roll over to next year. No roll over for Dependent Care FSA
Will I earn interest on my savings?
Are the savings tax-free? ✓ ✓
In most states
Do I keep the money if I leave
the company?
Can I also have a Flexible Spending N/A
Account (FSA)? ✓
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