Frequently Asked Questions

What is an FSA?

An FSA allows you to use pre-tax dollars to pay for qualifying health care and dependent care expenses. Participating in an FSA increases your take home pay, as your taxable income is reduced by your pre-tax deductions. Also, you are not taxed on your reimbursements.

How does an FSA work?

The annual amount you elect to contribute will be divided by the number of pay periods remaining in your plan year. Every pay period, your Employer will deduct these equal amounts from your payroll check on a pre-tax basis before, Federal, Social Security and most state tax responsibilities are withheld from your pay. The money is saved in your corresponding "Flexible Spending Account" until you submit receipts for eligible expenses. The amount you are reimbursed is not taxable, resulting in significant savings and enhanced purchasing power.

How Do I Enroll?

Each year prior to the beginning of the plan year, your Employer will have a specified Open Enrollment Period. You will need to complete an Enrollment Form and submit it to your Employer by a certain date as personal enrollment is required annually. FSA elections do not carry forward from year to year. And, if you or your spouse are enrolled in an HSA, you are only eligible to participate in a Flexible Spending Account for dental, vision and post minimum deductible medical expenses.

Once I Enroll, Can I Change My Election?

Unless you have a qualifying Change of Status during the year, you cannot make changes to your elections such as increasing or decreasing your level of contributions. To review a comprehensive list of allowed changes, please review the Change in Status Matrix.

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