Page 10 - 2018 BH Management Guide
P. 10
2018 Benefits Enrollment
TASC Flexible Spendings Account
TASC ID #4602-7130-2987 A lexible spending account (FSA) allows you to set aside pre-tax dollars from
www.tasconline.com/mytasc your paycheck to cover qualiied expenses that you would normally pay out
800.422.4661
of your pocket with after-tax dollars. We offer two types of lexible spending
account programs through TASC.
Eligible Expenses
Healthcare FSA Healthcare FSA
Medical and dental The healthcare FSA helps you pay for certain IRS-approved medical care
deductibles expenses not covered by your insurance plan with pre-tax dollars. For example,
cash which you now spend on deductibles, copayments, or other out-of-pocket
Coinsurance and copays
medical expenses can instead be placed in the healthcare FSA pre-tax, to pay for
Prescription drugs these expenses. The maximum contribution to the healthcare FSA is $2,650 per
Contact lenses and plan year.
eyeglasses
Funds you elect to contribute are available to the healthcare FSA are available
Laser eye surgery in full on the irst day of the plan year. For example, if you elect to contribute
Smoking cessation programs $1,000, full election is available on day one. You’ll continue to pay for the
election pre-tax from your paycheck throughout the plan year.
Hearing aids
Over-the-counter medications Carryover feature: you may carryover up to $500 of unused medical FSA funds
(with a written prescription) each year. Keep in mind, the carryover funds will expire at the end of the plan
Dependent Care FSA year if they were not utilized.
Cost of child or adult day Visit www.irs.gov/pub/irs-pdf/p502.pdf to view a complete listing of eligible
care*
expenses.
Nursery school
Preschool (excluding Dependent Care FSA
kindergarten) The dependent care FSA lets you set aside pre-tax dollars to use toward
* Eligible dependent—tax dependent qualiied dependent care. The maximum amount you may contribute to the
child under age 13; tax dependent
spouse, parent, or child who are dependent care FSA is $5,000 (or $2,500 if married and iling separately) per
unable to care for themselves
plan year. Funds you contribute to the dependent care FSA function like a debit
card, you need to accumulate the funds before you can use them.
Use It or Lose It
Be sure to carefully consider your FSA contribution amounts. At the end of the
year or grace period, you lose any money left over in your FSA. It’s important to
plan carefully and not put more money in your FSA than you think you’ll spend
within a year on things like copayments, coinsurance, drugs, and other allowed
10 healthcare costs. You have until March 31, 2018 to submit any charges incurred
in 2017 with funds from 2017.
TASC Flexible Spendings Account
TASC ID #4602-7130-2987 A lexible spending account (FSA) allows you to set aside pre-tax dollars from
www.tasconline.com/mytasc your paycheck to cover qualiied expenses that you would normally pay out
800.422.4661
of your pocket with after-tax dollars. We offer two types of lexible spending
account programs through TASC.
Eligible Expenses
Healthcare FSA Healthcare FSA
Medical and dental The healthcare FSA helps you pay for certain IRS-approved medical care
deductibles expenses not covered by your insurance plan with pre-tax dollars. For example,
cash which you now spend on deductibles, copayments, or other out-of-pocket
Coinsurance and copays
medical expenses can instead be placed in the healthcare FSA pre-tax, to pay for
Prescription drugs these expenses. The maximum contribution to the healthcare FSA is $2,650 per
Contact lenses and plan year.
eyeglasses
Funds you elect to contribute are available to the healthcare FSA are available
Laser eye surgery in full on the irst day of the plan year. For example, if you elect to contribute
Smoking cessation programs $1,000, full election is available on day one. You’ll continue to pay for the
election pre-tax from your paycheck throughout the plan year.
Hearing aids
Over-the-counter medications Carryover feature: you may carryover up to $500 of unused medical FSA funds
(with a written prescription) each year. Keep in mind, the carryover funds will expire at the end of the plan
Dependent Care FSA year if they were not utilized.
Cost of child or adult day Visit www.irs.gov/pub/irs-pdf/p502.pdf to view a complete listing of eligible
care*
expenses.
Nursery school
Preschool (excluding Dependent Care FSA
kindergarten) The dependent care FSA lets you set aside pre-tax dollars to use toward
* Eligible dependent—tax dependent qualiied dependent care. The maximum amount you may contribute to the
child under age 13; tax dependent
spouse, parent, or child who are dependent care FSA is $5,000 (or $2,500 if married and iling separately) per
unable to care for themselves
plan year. Funds you contribute to the dependent care FSA function like a debit
card, you need to accumulate the funds before you can use them.
Use It or Lose It
Be sure to carefully consider your FSA contribution amounts. At the end of the
year or grace period, you lose any money left over in your FSA. It’s important to
plan carefully and not put more money in your FSA than you think you’ll spend
within a year on things like copayments, coinsurance, drugs, and other allowed
10 healthcare costs. You have until March 31, 2018 to submit any charges incurred
in 2017 with funds from 2017.
