[ FLEXIBLE SPENDING ACCOUNTS ]
CYCLE OF SAVINGSThe Flexible Spending Accounts (FSA) let you pay for qualified healthcare, dependent care and adoption expenses tax-free.
HOW DO THE FSAs WORK?
For each account you enroll in, you choose how much to contribute. The money you contribute is taken out of your paychecks pre-tax, which lowers your taxable income for the year.
You may contribute to the following accounts:
Health Care FSA
Covers eligible medical, dental and vision expenses not paid by an insurance plan. This option is not available if you’re enrolled in the medical plan with the HSA per IRS rules.
You can contribute up to $2,750 each year.
Limited Purpose FSA
Covers eligible dental and vision care expenses only. This account is available only if you’re enrolled in the medical plan with the HSA, per IRS rules.
You can contribute up to $2,750 each year.
Dependent Care FSA
Covers eligible dependent daycare expenses so you and your legal spouse can work, find work or attend school full-time.
You can contribute up to $5,000 each year.
Adoption FSA
Covers eligible adoption expenses like court costs, attorney fees, and other expenses directly related to the legal adoption of a child.
You can contribute up to $5,000 each year.
How to pay for care and services
Debit card — You can pay for eligible expenses with a debit card at the point of service. Keep your receipts and Explanation of Benefits (EOB) statements mailed to you. The FSA administrator, benefitexpress, may ask you to see receipts and EOBs.
“Reimbursement by WEX” is available on the Apple App Store or Google Play.
- To use the app, you must first have an ABC Co. account.
- When you create your account, use your employer ID number: ABCCO. Enter your SSN when prompted.
Questions? Call benefitexpress at 877.555.5017.