Page 11 - Casting Network Benefits Guide 2020

Pre-Tax Savings Plans

Casting Networks provides you with an opportunity to participate in two different Flexible Spending Accounts (FSA) administered through TASC.

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 IMPORTANT FSA RULES

For 2020, you may contribute up to $2,750 to cover eligible health care expenses incurred by
you, your spouse, and your children up to age 26. Eligible expenses include: Because FSAs can give you a significant tax
advantage, they must be administered
according to specific IRS rules:

2.5 MONTH GRACE PERIOD

You can incur claims through March 15, 2021
and must file claims by March 31, 2021.
Coinsurance, Copays Prescriptions Dental Treatment Eye Exams, Eyeglasses
and Deductibles and Orthodontia and Lasik Eye Surgery After the grace period, unused funds will be
forfeited.
CLICK HERE for a complete list of eligible health care expenses.

DEPENDENT CARE FSA COMMUTER BENEFITS PARKING PLAN

For 2020, you may contribute up to $5,000 (per family) to The Commuter Benefits & Bicycle The Parking Plan lets you save money on
cover eligible dependent care expenses ($2,500 if you and program lets you save money on your commuting costs on a monthly basis,
your spouse file separate tax returns). Eligible expenses your commuting costs by paying for allowing you to join, cancel, or change
include: qualified expenses. you election amount any time.

Babysitters, nursery schools, Care of a household member Note: You can not enroll in both the commuter benefit and parking plan. It must
preschool or daycare who is physically or mentally be one or the other, but you can change your election monthly if needed.
centers for children under incapable of caring for him/
age 13 herself and qualifies as your
federal tax dependent Educational Video http://video.burnhambenefits.com/fsa/

11 Flexible Spending & Commuter Benefits