Page 19 - Paragon Services Engineering 2019 Employee Benefits

Flexible Spending Accounts (FSAs) are special tax-
advantaged accounts used to pay for eligible out-of-pocket
health care and dependent care expenses. If elected, your
account(s) will be funded with tax-free dollars using
convenient payroll deductions. Only expenses for services
incurred during the plan year are eligible for reimbursement
from your accounts. If you are using your debit card, you
must save your receipts, just in case HRPro needs a copy for Important FSA Rules
verification. Also, all receipts should be itemized to reflect Because FSAs can give you a significant tax
what product or service was purchased. Credit card receipts advantage, they must be administered
are not sufficient per IRS guidelines. according to specific IRS rules:

HRPro | Health Care FSA Health Care FSA

This plan is used to pay for expenses not covered under You must forfeit any money left in your
your health plans, such as deductibles, coinsurance, copays account(s) after your expenses for the year
and expenses that exceed plan limits. Employees may defer have been reimbursed. The IRS does not
up to $2,700 pre-tax per year. Eligible expenses include: allow the return of unused account balances
at the end of the plan year. Up to $500 of any
unspent funds remaining in your account at
the end of the plan year will carry-over to the

next plan year, and unspent funds above
Coinsurance, Medical and Dental Eye Exams, $500 will be forfeited.

Copays and Prescriptions and Eyeglasses
Deductibles Orthodontia and Lasik Eye Dependent Care FSA
Surgery Unused funds will NOT be returned to you or

carried over to the following year. You must
Go to www.fsastore.com to shop for FSA-eligible products, file claims by September 30, 2020.
and for a list of eligible expenses.

HRPro | Dependent Care FSA
This plan is used to pay for eligible expenses you incur for
child care, or for the care of a disabled dependent, while you
work. Employees may defer up to $5,000 pre-tax per year.
Eligible expenses include:

Licensed nursery schools, Adult daycare facilities
qualified childcare centers, Educational Video
after school programs, Flexible Spending Accounts
summer camps (under age http://video.burnhambenefits.com/fsa/
13), preschool