Page 29 - 2022 SoFi Benefits Guide
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Pre-Tax Flexible
Spending Accounts
(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 initial enrollment will be for
services incurred as of your New Hire Effective Date until Sept. 30, 2022.
How does this benefit work?
Flexible Spending Accounts (FSA) are like checking accounts that can be funded using pre-tax dollars deducted
directly from your paycheck.
Eligible health care or dependent care expenses can be reimbursed from these accounts.
You must enroll in your FSA every year in which you plan to participate, even if you currently hold an FSA.
How to get your Flexible Spending Account Started
Estimate your eligible expenses. Instructions for your P&A
Actively enroll in a FSA for 2021 - 2022 Group Login:
through Workday. To get started, please register your account
Use your debit card from P&A Group for by visiting www.padmin.com.
eligible out-of-pocket expenses.
The FSA funds will be deducted pre-tax from First time users navigate to the blue
your check each pay period. login box at the top of the page.
Select “Employees”.
How do I make changes to my participation? Under My Benefits Account Login, enter
You can only make changes to your participation your username and password and click
and/ or contribution amount during open enrollment Submit. If you are a first time user, click
or with a qualifying event. Make sure you budget the First Time Logging In link. You will
and plan ahead according to your projected health be prompted to create a username and
and dependent care needs. password for your account. TIP: If you
Where can I get more information? press Enter on your keyboard instead
of Submit, it will not work. You must
IRS Publication 502: Medical and Dental Expenses, click “Submit.”
and IRS Publication 503: Child and Dependent Care
Expenses list eligible expenses. These publications are
available online at www.irs.gov/forms-instructions or
by calling 800-TAX-FORM.
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