Page 13 - Work Life and Benefits Booklet 2020 - Global Post

GlobalPost provides you with an opportunity to participate in two different Flexible Spending Accounts (FSA) administered through Igoe. FSAs allow you to set aside
a portion of your income, before taxes, to pay for qualified health care, dependent care and/or commuter expenses. Because that portion of your income is not
taxed, you pay less in Federal income tax, Social Security tax, and Medicare tax. The end result is that you decrease your taxable income and increase your take-
home pay. The FSA plan year is January 1, 2020 - December 31, 2020.

HEALTH CARE FSA & LIMITED PURPOSE FSA
IMPORTANT FSA RULES
For 2020, you may contribute up to $2,750 to cover eligible health care expenses incurred by you, your
spouse, and dependent children. Eligible expenses include:
Health Care FSA
Because FSAs can give you a significant
tax advantage, they must be
administered according to specific IRS
rules:

2.5 MONTH GRACE PERIOD
Coinsurance, Copays and Prescriptions For your HCFSA and LFSA you can incur
Deductibles
claims through March 15, 2021 and must
file claims by March 31, 2021.

After the grace period, unused funds will
be forfeited. Use it or lose it.
Go to www.fsastore.com for a list of
eligible expenses to spend any unused
funds.

Dental Treatment Eye Exams, Eyeglasses
and Orthodontia and Lasik Eye Surgery

HSA Participants: Take advantage of the Limited Purpose FSA for dental & vision expenses. If you Educational Video
meet your calendar year deductible, your LPFSA funds may also be used for medical. Flexible Spending Accounts
http://video.burnhambenefits.com/fsa/