Page 20 - ABM 2021 Benefit Guide AMPCO
P. 20
HEALTHCARE FLEXIBLE SPENDING
ACCOUNT (FSA)
Flexible Spending Accounts (FSA) allow you $2,750* Annual Limit
to pay for qualifying healthcare goods and You are allowed to pay for qualifying out-
services you use with money deducted from of-pocket healthcare expenses for you and
your paycheck before it is taxed. This can your dependents. The amount you choose to
reduce your eligible healthcare expenses by contribute will be deducted from your pay in
as much as 30%. This plan is administered equal installments throughout the year. You
by Discovery Beneits. If you participate in the cannot change your annual contribution amount
HSA, you can only participate in an FSA if it’s unless you have a QLE.
a “limited FSA”. ABM’s FSA is not a limited
FSA. Expenses incurred by domestic partners You must make an election for each year in
and their children do not qualify as eligible which you wish to participate in the FSA .
expenses under the Healthcare FSA. ABM’s
FSA beneit includes a 10-week grace period. Minimum Annual Contribution: $300
Including the grace period, you can use your Maximum Annual Contribution: $2,750*
2021 contributions to reimburse expenses
made between your eligibility date and Eligible expenses for services rendered during
March 15, 2022. the Plan Year and grace period (your eligibility
date—March 15, 2022) must be submitted for
reimbursement by June 15, 2022.
* At the time of this publication, the IRS had not released an updated
2021 limit.
20 2021 Benefits Enrollment
ACCOUNT (FSA)
Flexible Spending Accounts (FSA) allow you $2,750* Annual Limit
to pay for qualifying healthcare goods and You are allowed to pay for qualifying out-
services you use with money deducted from of-pocket healthcare expenses for you and
your paycheck before it is taxed. This can your dependents. The amount you choose to
reduce your eligible healthcare expenses by contribute will be deducted from your pay in
as much as 30%. This plan is administered equal installments throughout the year. You
by Discovery Beneits. If you participate in the cannot change your annual contribution amount
HSA, you can only participate in an FSA if it’s unless you have a QLE.
a “limited FSA”. ABM’s FSA is not a limited
FSA. Expenses incurred by domestic partners You must make an election for each year in
and their children do not qualify as eligible which you wish to participate in the FSA .
expenses under the Healthcare FSA. ABM’s
FSA beneit includes a 10-week grace period. Minimum Annual Contribution: $300
Including the grace period, you can use your Maximum Annual Contribution: $2,750*
2021 contributions to reimburse expenses
made between your eligibility date and Eligible expenses for services rendered during
March 15, 2022. the Plan Year and grace period (your eligibility
date—March 15, 2022) must be submitted for
reimbursement by June 15, 2022.
* At the time of this publication, the IRS had not released an updated
2021 limit.
20 2021 Benefits Enrollment
