Flexible Spending Accounts are tax-favored accounts that allow participants to set aside money pretax for
eligible Medical and Dependent Care costs. Flexible Spending Accounts (FSAs) allow an employee the
opportunity to put some of his/her salary aside before taxes to pay for many common out-of-pocket
Use-it-or-lose-it refers to an IRS requirement. If you do not spend all the money you have elected, it will be
forfeited because it cannot be rolled over or refunded to you. Any money that you elect to set aside in a
flexible spending account for a given Plan Year may be used only for eligible expenses you incur for
services received during that Plan Year. So, it's very important that you plan carefully when deciding on how much to allot for your FSAs.
The Plan Year for flexible spending is September 1, 2013 - August 31, 2014.
Your medical reimbursement account may be used to reimburse you for expenses that you incur for
treatment of yourself, spouse and dependent children during your plan year.
Eligible medical expenses include deductibles and coinsurance amounts under a group health plan,
charges that are in excess of the amount reimbursed under a group health plan, and charges that are not
covered under a group health plan such as certain corrective surgeries, vision care, dental care and hearing
Effective January 1, 2011, all over -the counter medications eligible for reimbursement must be accompanied by a doctor's prescription.
Maximum contribution amount for 2013/2014 plan year is $2,500 ($208.33 per month).
Reminder - If you or your spouse participate in a Qualified High Deductible Health Plan and contribute to a
Health Savings Account, you are not eligible to enroll in Medical Reimbursement.
The FFA benefits card is available for Medical Reimbursement Flexible Spending Accounts. This card may
be used in lieu of cash for any out of pocket medical expenses only. It is a signature debit card and does
not require a pin for use. Cards are good for three years from the issue date as long as you participate each
consecutive plan year. Cards can be issued to spouses and dependent children (ages 18 to 26) for no
additional fee. Please note that in order for your card to be available in September, you must enroll no later than August 15, 2013.
As a district employee, you are eligible to participate in a Section 125 Flexible Benefit Plan. Enrollment
opportunities are limited to the plan year dates for your district.
A Section 125 Flexible Benefit Plan allows you, the employee, to select from a list of available benefits that
will meet your family's healthcare needs. Certain benefit premiums are deducted from your gross earnings
before federal withholding taxes are figured. The amount you elect to have deducted “pre-tax” actually
lowers your taxable income. By implementing this plan, your employer is helping you reduce your taxes and
increase your take home pay.
You can not change your elections during the plan year except for certain specified changes in family status.
Those changes include:
You must notify your employer within 31 days of the qualifying event to make changes.
This benefit allows you to pay for dependent care expenses with “pre-tax” dollars. The maximum amount for Dependent Care Reimbursement is $5,000 per plan year.
Dependent care may be provided in your home or at a licensed center outside of your home. If the care is in your home, the service cannot be provided by another child of yours under the age of 19, by your spouse, or by your dependents.