Flexible Spending Accounts
Carrier: Flexible Benefit Administrators
Customer Service Phone: 800.437.3539
Section 125 of the Internal Revenue Code allows certain benefits to be payroll deducted with pre-tax dollars. When an eligible employee completes an application to enroll in health and dental insurance plans, the pre-tax premiums are automatically deducted unless you indicate in writing that you wish to decline participation. Premiums will remain pre-taxed until a new enrollment application is received either during the annual open enrollment period or in the event of a "life event change."
Open enrollment takes place every year during the months of October and November for a benefit effective date of January 1. Changes outside of open enrollment are only allowed in the event of a "life event change", which includes significant events such as marriage, divorce, birth, death, or change in employment status.
A new election is allowed within 30 days of experiencing a life event and must be submitted through the Plansource online enrollment system. Employees wishing to add newborn or adopted children to the health insurance plan have 30 days from the birth or adoption to make the election. Enrollment will not be permitted after 30 days except during the next open enrollment period.
The school system offers the opportunity to participate in a Flexible Spending Account. This is an IRS approved program that allows you to use pre-tax dollars to pay for certain medical and/or dependent care expenses.
Deduct up to $3,050* pre-tax for qualified medical expenses.
Deduct up to $5,000* pre-tax for qualified dependent care expenses (in order to claim a tax exclusion for DCAP benefits, you must file IRS Form 2441 with your tax return).
Pre-tax means exempt from federal, state, and FICA taxes.
This is a calendar year benefit. The plan runs from January 1 through December 31.
* 2024 IRS limits have not been published as of this writing.
The plan includes a carryover provision that allows carry over of up to $610 of unused health FSA amounts remaining at the end of the plan year to reimburse medical expenses incurred during the following year. Unused amounts over $610 are forfeited if not claimed by the end of the 2 month run-out period.
Don't forget: Run-Out Period to turn in expenses after the end of the plan year is 2 months. The Run-Out Period ends on February 28 each year.
PLEASE NOTE: Specific enrollment periods apply to the flexible spending accounts. New hires have 30 days from the date of hire to enroll. The annual open enrollment period takes place during the month of November for a January 1 benefit effective date. Participation is not automatic and requires online enrollment to be completed prior to coverage becoming effective.
Flexible Benefits Plan Highlights
Plan Year | January 1 – December 31 |
Medical Expenses Annual Limit | $3,050.00* |
Dependent Care Annual Limit | $5,000.00* |
Claims Processing Schedule | Weekly |
Carry Over Allowance | $610 of unused health FSA dollars |
Run Out Period to turn in expenses | 2 months (ends February 28) |
Plan Administrator | FBA- Flexible Benefit Administators |
FBA Representative | Dwayne Cromwell |
FBA Telephone Number | 800.437.3539 ext.116 |
Flexible Benefits Administrators Email | dcromwell@flex-admin.com |