Page 30 - 2022 SoFi - August Open Enrollment
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Pre-Tax Flexible



            Spending Account


            (FSA) — P&A Group




            Flexible Spending Accounts (FSA) are an important part of your
            benefits package and help you save money. A FSA lets you pay
            for eligible out-of-pocket dependent care and healthcare expenses
            with pre-tax dollars, thereby reducing your taxable income.
            The average employee will save 30% for each dollar contributed to the FSA. FSA benefits are administrated by
            P&A Group. The FSA elections you make during this open enrollment period will be for services incurred from
            October 1, 2022 through December 31, 2022.

            How does this benefit work?                          Where can I get more information?
               ƒ  Flexible Spending Accounts (FSA) are like checking   IRS Publication 502: Medical and Dental Expenses,
               accounts that can be funded using pre-tax dollars   and IRS Publication 503: Child and Dependent Care
               deducted directly from your paycheck.             Expenses list eligible expenses. These publications are
               ƒ  Eligible health care or dependent care expenses   available online at www.irs.gov/forms-instructions or
               can be reimbursed from these accounts.            by calling 800-TAX-FORM.
               ƒ  You must enroll in your FSA every year in which
               you plan to participate, even if you currently
               hold an FSA.                                          Instructions for your P&A
            How to get your Flexible Spending Account Started        Group Login:
               ƒ  Estimate your eligible expenses for the 3 month    To get started, please register your account
               period of October 1, 2022 – December 31, 2022.        by visiting www.padmin.com.
               ƒ  Actively enroll in the FSA short-plan year from       ƒ  First time users navigate to the blue
               October 1, 2022 – December 31, 2022                      login box at the top of the page.
               through Workday.                                         Select “Employees”.
               ƒ  Use your debit card from P&A Group for                ƒ  Under My Benefits Account Login,
               eligible out-of-pocket expenses.                         enter your username and password and
               ƒ  The FSA funds will be deducted pre-tax from           click Submit. If you are a first time user,
               your check each pay period.                              click the First Time Logging In link.

            Claims Filing Deadline for Short Plan Year                  You will be prompted to create a
                                                                        username and password for your account.
            You will have until March 31, 2023 to submit claims for
            the short-plan year.                                        TIP: If you press Enter on your keyboard
                                                                        instead of Submit, it will not work.
            How do I make changes to my participation?                  You must click “Submit.”

            You can only make changes to your participation
            and/ or contribution amount during open enrollment
            or with a qualifying event. Make sure you budget
            and plan ahead according to your projected health
            and dependent care needs.




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