Hughston Benefits Guide
9
FLEXIBLE SPENDING ACCOUNTS (FSAs) | MEDCOM
FSAs offer opportunities to pay for eligible out-of-pocket health care expenses and dependent care expenses with pre-tax dollars. You have the option to participate in the following FSAs:
MEDICAL FSA
Who can participate? Benefit eligible employees not enrolled in a medical plan, or employees enrolled in the Copay plan.
What happens at the end of the year? Any leftover funds will be lost.
Grace period There is a 2.5 month grace period after the end of the plan year where you are still able to use funds for reimbursement.
Contribution Limits : Employees can contribute up to $3,200. You can use the funds for any qualified healthcare expense.
DEPENDENT CARE FSA
Who can participate? Benefit eligible employees
What happens at the end of the year? Any leftover funds will be lost.
Contribution Limits : Employees can contribute up to $5,000 per plan year. You can use the funds for any qualified dependent care expenses.
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