Page 15 - 2018 SLU Enrollment
P. 15
Saint Louis University
Flexible Spending Account
(FSA)
What is an FSA?
An FSA allows you to set aside pre-tax dollars from your paycheck to
cover qualiied expenses you would normally pay out of your pocket with
after-tax dollars. We partner with ConnectYourCare to offer two types of
Flexible Spending Account programs. Keep in mind, you must make a
new FSA election every year; current elections will not carry forward.
Healthcare FSA
The Healthcare FSA helps you pay for certain IRS-approved medical care
expenses not covered by your insurance plan with pre-tax dollars. The
maximum contribution to the Healthcare FSA is $2,650 per plan year.
Funds you elect to contribute to the Healthcare FSA are available in full
on the irst day of the plan year. For example, if you elect to contribute
$1,000, your full election is available on day 1. You’ll continue to pay for
the election pre-tax from your paycheck throughout the plan year.
If you enroll in the Plus plan (or no medical plan at SLU), you are eligible
to contribute to the Healthcare FSA.
Dependent Care FSA
The Dependent Care FSA lets you use pre-tax dollars towards qualiied
childcare. The maximum amount you may contribute to the Dependent
Care FSA is $5,000 (or $2,500 if married and iling separately) per
calendar year.
You are eligible to contribute to the Dependent Care FSA regardless of
your medical plan enrollment.
15
Flexible Spending Account
(FSA)
What is an FSA?
An FSA allows you to set aside pre-tax dollars from your paycheck to
cover qualiied expenses you would normally pay out of your pocket with
after-tax dollars. We partner with ConnectYourCare to offer two types of
Flexible Spending Account programs. Keep in mind, you must make a
new FSA election every year; current elections will not carry forward.
Healthcare FSA
The Healthcare FSA helps you pay for certain IRS-approved medical care
expenses not covered by your insurance plan with pre-tax dollars. The
maximum contribution to the Healthcare FSA is $2,650 per plan year.
Funds you elect to contribute to the Healthcare FSA are available in full
on the irst day of the plan year. For example, if you elect to contribute
$1,000, your full election is available on day 1. You’ll continue to pay for
the election pre-tax from your paycheck throughout the plan year.
If you enroll in the Plus plan (or no medical plan at SLU), you are eligible
to contribute to the Healthcare FSA.
Dependent Care FSA
The Dependent Care FSA lets you use pre-tax dollars towards qualiied
childcare. The maximum amount you may contribute to the Dependent
Care FSA is $5,000 (or $2,500 if married and iling separately) per
calendar year.
You are eligible to contribute to the Dependent Care FSA regardless of
your medical plan enrollment.
15
